tax

Find out the latest goings-on at TTR Barnes by browsing our news posts:

Business Asset Disposal Relief Changes BADR

Business Asset Disposal Relief (BADR): Breakdown of Forthcoming Changes 12th February 2025

Within her Autumn 2024 budget statement, Chancellor Rachel Reeves announced that the rates associated with Business Asset Disposal Relief (BADR) would be increasing.  Part of a broader strategy to increase tax revenues, the rates will be increased to 18% over […]

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Key Tax Changes for Second Homeowners 2024 9th September 2024

While owning a second home can be seen as an attainable aspiration and something to work towards, recent and upcoming changes in law mean that many landlords and multiple homeowners are seeing increased financial challenges, causing them to reassess their […]

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What can the economy expect from the new Labour Government? 2nd August 2024

With a new government, led by a new Prime Minister, Britain can expect big changes in the months and years ahead, but what alterations might Labour bring to the economy? Chancellor Rachel Reeves has presented Labour as a party focused […]

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accountants in sunderland

Forthcoming Changes to Reporting of Benefits in Kind (BiKs) 30th May 2024

From 6th April 2026 employers must process Benefits in Kind (BiKs) though payroll rather than the annual submission of P11D/P11D(b) returns. The new approach is an effort to reduce administrative time for both employers and HMRC through the removal of […]

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Solicitors Accounts Regulations: What You Need to Know

Up to 28,000 small businesses set to receive financial boost following increase in VAT threshold 9th May 2024

As of 1st April the VAT registration threshold has been raised from £85,000 to £90,000. The VAT move is set to benefit up to 28,000 small businesses, who will no longer meet the threshold for VAT submissions. The change is […]

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Solicitors Accounts Regulations: What You Need to Know

Changes to National Insurance Contributions 24th April 2024

The rate of National Insurance Contributions paid depends on your employment status, whether you are employed or self-employed and how much you earn.  In last year’s Autumn Statement – as part of the National Insurance Contributions (Reduction in Rates) Act […]

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Basis Period Reform: Changes to accounting periods from 2023/2024 for individuals and partnerships 21st February 2024

As of 6th April 2024 business profits for sole traders, unincorporated businesses and limited liability partnerships should be calculated inline with the tax year,” rather than on the “current period basis”, thus aligning all accounting periods to the tax year […]

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Solicitors Accounts Regulations: What You Need to Know

The Full Expensing Regime 19th January 2024

The Chancellor’s announcement at the Autumn Statement on 22 November 2023 brought a pivotal development for businesses as the full expensing regime (allowing companies to claim 100% capital allowances for qualifying plant and machinery) will no longer expire on 31st […]

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Solicitors Accounts Regulations: What You Need to Know

Solicitors Accounts Regulations: What You Need to Know 11th December 2023

Solicitors, as entrusted custodians of client funds, operate within a structured set of guidelines known as the Solicitors Accounts Regulations (SAR). This financial regulatory framework not only safeguards the interests of clients but also establishes a robust foundation for financial […]

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Autumn Statement 2023 23rd November 2023

On 22 November 2023, Jeremy Hunt delivered the ‘Autumn Statement for Growth’. Against an improving economic backdrop, the Chancellor is keen to stimulate economic growth and highlighted 110 measures for businesses. In addition, there were significant statements relating to National […]

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