Looking Forward To Tax Changes In 2024

With Covid, several Prime Ministers and Chancellors and the run up to a general election, changes to the tax system have been numerous and we can expect more in 2024.

What can we see on the horizon and how should you react?

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After lots of Tricks, it's time for some Treats!

Here are some tax free treats you could take from your company, with the maximum tax free amounts for a two person shareholder-director company shown in brackets. 

  • Salary (£25k pa)
  • Trivial Benefits (£600 pa)
  • Annual Parties (£600 pa)
  • Cycle To Work Scheme (Credit License Limit: £2k)
  • Private Health Checks (Annual - £No Limit)
  • Eye Tests (Annual - £No Limit)
  • Tax Free Dividends (£2k)
  • Pensions (£120k pa – With IFA Advice)
  • Relevant Life Policies (£Not Excessive)
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Dear HMRC...Why We Need To Talk

HMRC-Phone-Contact

Dear HMRC

Why we need to talk to you…..

As an unrepresented taxpayer with apparently very simple tax affairs, I find myself needing to call you. I really don’t want to. I have better things to do, but I like to know I’m not going to upset you.

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Budget 2023 - Are we just refilling potholes?

There's been a lot said today, but does it amount to refilling what has been there before or something new? Was there anymore in it than for high earning, beer drinking, car driving, parents with potholes outside their home?

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Registered

On The Spot Tax Limited

Trading as On The Spot
Registered in England & Wales under company number 06566196
VAT number 937 5293 90