info@makesworth.co.uk
Mon - Fri: 9:30 AM - 6:00 PM 
Talk with us: 02079938850
In his November 2023 Autumn Statement, the Chancellor announced a reduction in the main primary rate of Class 1 National Insurance from 12% to 10%. Rather than waiting until the start of the 2024/25 tax year to bring in the change, it applies from 6 January 2024. The change will benefit employers and directors, but
Learn More
The self-employed have historically paid two classes of National Insurance – Class 2 and Class 4. However, this is set to change from April 2024 with the abolition of Class 2 National Insurance contributions(NIC). What are Class 2 contributions? The payment of Class 2 contributions has enabled a self-employed person to build up entitlement to
Learn More
HMRC believes that not everyone is paying the correct amount of tax, estimating what it terms as ‘the tax gap’ as being ‘4.8% of total theoretical tax liabilities, or £35.8 billion in absolute terms, in the 2021 to 2022 tax year’. HMRC appreciates that not all this money is purposely withheld (as in fraud or
Learn More
Many businesses begin by buying a customer list from another similar business, sending out marketing adverts rather than waiting to build their own client base via recommendation. A business can also expand by buying a customer list. However, a customer list is usually more than just a list of customer names and contact details. It
Learn More
Despite 4.2 million couples being eligible for the tax break, only 1.8 million are claiming the marriage allowance (MA) – a benefit worth £252 a year. The main reason for not claiming is probably because those eligible are either unaware of the allowance or, if they are aware of it, think they are not eligible.
Learn More
HMRC have recently published a spotlight warning landlords to avoid schemes offering hybrid property arrangements that purport to save tax. HMRC’s view is that the scheme does not work and landlords who are tempted by the advertised advantages might find themselves out of pocket. Nature of the arrangements The arrangements are based on the landlord
Learn More