APS Accountancy Limited

Scammers are on the rise as the Self-Assessment deadline nears! HMRC warns that HMRC never emails or texts about tax refunds. Stay alert, report suspicious contacts, and protect your money from fraudsters. #TaxScamAlert #StayVigilant #ProtectYourMoney

Selling online? From 2024, digital platforms must report your information to HMRC if sales exceed £1,700 or 30 goods a year. Casual sellers are exempt, but regular traders may need to register for Self-Assessment. #OnlineSellingTax #HMRCReporting #UKTaxRules

From April 2024, UK businesses can access enhanced R&D tax relief through the merged RDEC and new ERIS schemes. With generous deductions and credits for R&D-intensive projects, the schemes offer tailored support to fuel innovation and drive growth. #RDTaxRelief #InnovationSupport #UKBusinessGrowth

Scotland’s 2024 Budget delivers on public priorities with investments in services, poverty reduction, and economic growth. Tax rates stay frozen, but bands shift to protect low incomes. A hopeful step forward for Scotland’s future! #ScotlandBudget2024 #InvestInScotland #TaxUpdates

It is important to take the necessary steps to protect your land and property from fraud. #PropertyFraudProtection #SecureYourLand

A new rule aimed at preventing individuals from using companies to avoid taxes through the Transfer of Assets Abroad (ToAA) provisions applies to income arising to persons abroad on and after 6 April 2024. #AssetTransfersAbroad #InternationalAssets

The VAT Flat Rate Scheme allows businesses to pay VAT as a fixed percentage of their total turnover, which includes VAT. The applicable percentage varies based on the business type. This scheme is designed to simplify VAT accounting, thereby reducing the administrative burden associated with VAT compliance. #VATFlatRateScheme #SmallBusinessVAT

If you have lost or forgotten your National Insurance number, there are several ways to retrieve it. #NICNumber #NINApplication #UKTaxEssentials

One of the most commonly used and valuable exemptions from Capital Gains Tax (CGT) is for the sale of a family home. Generally, there is no CGT on a property that has been used as your main family residence. However, an investment property that has never been used as your main home will not qualify. This relief is known as Private Residence Relief (PRR). #UKPropertyTax #ExpatsAndTax #SellingFromAbroad

The letters in your tax code indicate whether you are entitled to the annual tax-free personal allowance. These codes are updated each year and help employers calculate how much tax should be deducted from your salary. #UnderstandingTaxCodes #UKTaxHelp #TaxCodeGuide