Budget 2024 - Your Country Needs You

Today's spring Budget 2024 was a worker's Budget. There were many changes encouraging us back into work. Not just the reductions in National Insurance but also aiming to deal with certain perceived unfairness to help us all feel better about bothering to turn up:

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2024 Tax Year End Planning

With the tax year ending 5 April 2024 fast approaching, please do check what tax planning action you might take:

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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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Registered

On The Spot Tax Limited

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