Tax Tips & News

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01/10/2024

October Tax Tips & News

Welcome to the Stephen Hill Mid Kent Tax Tips & News monthly newsletter, bringing you the latest news to keep you one step ahead of the taxman.

If you need further assistance just let us know or send us a question for our Question and Answer Section.

We’re committed to ensuring none of our clients pay a penny more in tax than is necessary and they receive useful tax and business advice and support throughout the year.

Please contact us for advice on your own specific circumstances. We’re here to help!

Mounting speculation of Inheritance Tax changes to come

As speculation mounts that the new Government will soon make changes to raise more money for the Treasury via Inheritance Tax (IHT), it seems we're already set for the highest receipts on record this year. Read More...

A new flat rate for pension tax relief? Budget changes expected

Amid the frequently repeated references to the £22bn 'blackhole' in the public finances and warnings from the Prime Minister of a 'painful' Autumn Budget, it would appear that tax relief on pensions may be another area the Government seeks out to raise mo Read More...

Loophole for fund managers that chancellor called 'absurd' set to be closed

One area of potential tax reform that we know we should expect to hear more about on Budget day surrounds the tax treatment of 'carried interest'. Read More...

Seasonal staff warning from HMRC

Many businesses across the UK have peaks and troughs in their trade, depending on the season. And some, as a result, have to take on more helping hands to cover the workload just during that particular spell. Read More...

October Questions and Answers

I earn £62,000 and have been offered a bonus that would increase my total income to £95,000. How will this affect my tax, and are there any higher tax bands I should be aware of? Am I right that bonuses are taxed more than normal income Read More...

October Key Dates

5th - Self-Assessment Registration Deadline: if you've become self-employed or earned other untaxed income during the 2023-24 tax year, you must register for self-assessment by this date to avoid penalties. Read More...

About Us

Stephen Hill Mid Kent are a firm of chartered accountants with offices in Maidstone, New Romney and Dymchurch, offering local business owners and individuals a wide range of both general and specialist accountancy services and advice. We pride ourselves on being more than just accountants. Visit our website stephenhillmidkent.co.uk for more information.

31-33 Albion Place Maidstone Kent ME14 5DZ

Stephen Hill Mid Kent is a trading name of Stephen Hill Mid Kent Ltd