Monthly Archives: April 2024

New employment protections

The following changes were enacted from 6 April 2024. These changes apply to England, Wales and Scotland. Northern Ireland is not included as employment law is devolved. The information that follows is reproduced from a post on the House of Commons Library at https://commonslibrary.parliament.uk/what-employment-laws-are-changing-from-april-2024/#:~:text=New%20legislation%20has%20expanded%20rights,effect%20from%206%20April%202024. Changes to flexible working Employees can now make two rather than…
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Opening up small company reporting

Companies House are working on detailed changes that will require small and micro sized companies to file information about their turnover and profits at Companies House. Once filed, this data will be available to anyone searching affected companies’ records at Companies House. At present, smaller companies can file abridged accounts that do not include a…
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Boost for small businesses

In a recent press release, HMRC underlined the benefits to smaller businesses from the increase in the VAT registration threshold and the business rates freeze. Here’s what they said: “Small businesses have received a boost as the VAT registration threshold is raised from £85,000 to £90,000, and £4.3 billion of business rates relief comes into…
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Tax on savings interest

If you have taxable income of less than £17,570 in 2024-25 you will have no tax to pay on interest received. This figure is calculated by adding the £5,000 starting rate limit for savings (where 0% of the interest is taxable) to the current £12,570 personal allowance. In addition, there is a Personal Savings Allowance…
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