DUA Tax Newsletter – April 2024
Welcome to the April edition of our Tax newsletter. We hope that you find this informative. Please contact us if you wish to discuss in more detail any of the points highlighted. HAPPY NEW TAX YEAR In this April issue we highlight some of the key tax changes that take effect from the start of […]
Managing hybrid teams
As hybrid working has become more mainstream, managers have had to adapt. The emergence of hybrid teams – a blend of remote and in-office workers – has ushered in a new era of workplace dynamics. The challenge lies in effectively managing these diverse teams, balancing flexibility with structure and fostering collaboration amidst physical separation. […]
HMRC service issues
HMRC continues to come under fire for its service levels, and recent surveys rated this as poor, with 94% somewhat or extremely dissatisfied with them. These include long wait times to be connected to an adviser, and the webchat coming in for severe criticism too. The length of time taken to deal with correspondence is […]
Creating sustainable growth
We live in uncertain times, but it’s still possible to grow your business in a sustainable way. Globally, 2024 could be a year that is full of economic uncertainty. It’s an election year in the UK and the USA. Interest rates remain high, and inflation is still high too. Creating sustainable business growth during times […]
Leverage the power of apps with your accounting software
Although core accounting software has the basic functionality required, add-ons, or apps, can significantly enhance its capabilities in many areas. The following examples show how some of these apps can positively impact accounting software. Practically all businesses have to pay suppliers, and there is the ability to process these and make payments without […]
Cash basis of accounting – is it right for you?
HMRC are removing many of the restrictions on the use of the cash basis, reducing the complexity of tax returns and making tax simpler for small businesses (apparently!). The cash basis is a method that businesses can use to calculate trading profits for income tax purposes, as an alternative to using traditional ‘accruals’ accounting. The […]
Becoming a trusted advisor
Becoming a trusted advisor to your clients involves building relationships and taking the time to understand their world. Becoming a trusted advisor instead of “just another supplier” takes time and necessitates providing value to your clients by focusing on helping them to solve problems. Becoming a trusted advisor involves building long term relationships which are based […]
What are the tax rates anyway?
The headline income tax rates for England and Wales are 20%, 40% and 45%, and this gets more complex when dividends are taxed, with headline rates of 0%, 8.75%, 33.75% and 39.35%. If you think that is bad enough, pity those in Scotland who have rates of 19%, 20%, 21%, 42%, 45% and 48% to contend with. […]
Tax E-news – March 2024
Welcome to the March edition of our Tax newsletter Budget Special Edition. We hope that you find this informative. Please contact us if you wish to discuss in more detail any of the points highlighted. BUDGET 2024 On 6 March 2024, Chancellor Jeremy Hunt presented his Spring Budget to Parliament. In the knowledge that […]
Dividend tax
Currently, £1,000 can be taken as tax free dividend income in the current tax year 2023-24. It was £2,000 prior to that. However, come 6 April, the £1,000 is cut again and the tax-free amount will be £500 only. This is estimated to affect nearly £4.5m people and raise significant sums for the treasury. […]