From 1 October 2024, you can be reasonably sure that when you leave a tip or pay a service charge your largesse will benefit the establishment staff, not the business owners.The following update is reproduced from a news story released by the Department for Business and Trade."From Tuesday 1st October, millions of hard working and…
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Key performance indicators
Key Performance Indicators (KPIs) are widely used across industries in the UK to measure success and performance. Here are some of the top KPIs commonly used in various sectors:1. Financial KPIs:Revenue Growth: Measures the increase in sales or income over a specific period.Net Profit Margin: Percentage of revenue remaining after all expenses.Gross Profit Margin: Shows…
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Tax Diary October/November 2024
1 October 2024 - Due date for Corporation Tax due for the year ended 31 December 2023.19 October 2024 - PAYE and NIC deductions due for month ended 5 October 2024. (If you pay your tax electronically the due date is 22 October 2024.)19 October 2024 - Filing deadline for the CIS300 monthly return for…
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Higher rate relief pension contributions
You can typically claim tax relief on private pension contributions up to 100% of your annual earnings, subject to certain limits. Tax relief is applied at your highest rate of income tax, meaning:Basic rate taxpayers receive 20% pension tax reliefHigher rate taxpayers can claim 40% pension tax reliefAdditional rate taxpayers can claim 45% pension tax…
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