Practice News Archive - Davies Tracey - Accountants in Tees Valley
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Autumn Budget commentary

OCTOBER 2024 Click the relevant image below to view video commentary Read on for commentary from Ian Kelly, Tax Partner And so there we have it, Labour’s first Budget for 14 years and the first by a female  Chancellor of the Exchequer. Rachel Reeves at times showed a few nerves, as a couple of stumbles…Read More

Autumn Budget 2024 – predictions

by Ian Kelly, Tax Partner It only seems like yesterday that Labour swept to power and the Chancellor of the Exchequer, Rachel Reeves, announced that Wednesday 30 October 2024 would be Budget Day. In the intervening period, Reeves, the first female Chancellor and in charge of Labour’s first Budget for 15 years, has played a…Read More

An immediate focus on generating economic growth

The General Election is now behind us and, as widely publicised, in Rachel Reeves we now have our first lady Chancellor of the Exchequer. As I write this article, we are at day five of the Labour government and the day after Reeves asked the Treasury to report back to her with their assessment of…Read More

HMRC glitch for Direct Debit payments

Following a weekend during which a VAT deadline fell, we have been made aware of a glitch in HMRC’s system when it comes to those who pay via Direct Debit. They define a Direct Debit as a ‘request for payment’, which may or may not proceed. This is why payment isn’t actually taken until 10th-12th…Read More

Spring Budget 2024

7th March 2024 At times, it feels that Chancellor of the Exchequer Jeremy Hunt has been presenting to the House of Commons forever and a day with his Budgets and Autumn Statements but he has actually only delivered two of each. The 6 March 2024 Budget was widely perceived, in advance, to be something of…Read More

Digital platforms now have to collect extra information about sellers

JANUARY 2024 “Do I need to pay tax on my Vinted/eBay earnings?” Due to recent headlines, this has become a key question as we enter the new year and self-assessment tax returns are at the forefront of our team and clients’ minds. Please be aware that currently, the only change is for digital selling platforms…Read More

Autumn Statement – a summary from our Tax Partner

By Ian Kelly, November 2023 Just over a year after his inaugural Autumn Statement, Chancellor of the Exchequer Jeremy Hunt delivered his second on 22 November 2023 which he opened with a title for the said Autumn Statement, “An Autumn Statement for Growth”. One was immediately transported back to the Liz Truss/Kwasi Kwarteng Mini Budget…Read More

PREVIEW: Autumn Statement (22 November)

Driving to work this morning, I switched to Radio Four, not my favourite choice of radio station, but I wanted to catch up with feedback on Rishi Sunak’s address to the Conservative Party Conference. As luck would have it, the Prime Minister was being interviewed, albeit a recording from the previous day, and he got…Read More

Celebrating National Payroll Week

SEPTEMBER 2023 We celebrated #NPW23 by shining a spotlight on current payroll issues affecting UK businesses, via our latest DT Payroll newsletter. Please click here to read it now, and get up to date on:

Tax Rates 23/24

Our Tax Card is now available, created for your use as a quick point of reference throughout the 2023/24 tax year. It shows all recent changes to rates and allowances affecting business and personal finances. TAX RATES 23/24 – CLICK HERE TO VIEW If you have any queries or require more detailed advice, please call us…Read More

Budget Summary

MARCH 2023 Our Tax Partner Ian Kelly rounds up Wednesday’s budget from Chancellor of the Exchequer, Jeremy Hunt. Well, after all the advance hype and “leaks”, Chancellor of the Exchequer, Jeremy Hunt’s first Budget was something of a damp squib; always a problem when the “spoiler alert” has already taken place. Hunt’s calm and gentle…Read More

Flexible working… and its payroll challenges

In January 2023, new research from HR expert MHR Global, revealed that a greater proportion of employees would prefer to work in the office with flexible hours (51%) than work from home with structured hours (41%). Full time office workers across the UK were surveyed, who drew on their experiences working remotely during the coronavirus…Read More

2023 Spring Budget Preview

MARCH 2023 – OUR TAX PARTNER, IAN KELLY, LOOKS AHEAD TO NEXT WEDNESDAY’S BUDGET The clock is ticking on Chancellor of the Exchequer Jeremy Hunt’s first formal Budget to be held on Wednesday 15 March. After his Autumn Statement last November, we’re into confirmed traditional Spring Budget territory. Hunt’s delivery back then, I wrote, was…Read More

Three regional professionals link up for live events

FEBRUARY 2023 Now that we are firmly in 2023, alongside other experienced regional professionals, we have decided that not only is it time to get local businesses focussed on their long-term plans, but it is also time to get businesses together in person to do so. We are coming together with Chartered Financial Planners Mercury…Read More

Making Tax Digital for Income Tax Self-Assessment now delayed until 2026

JANUARY 2023 The most significant change to personal taxation in 25 years has been postponed for a second time. HMRC recently confirmed that once again Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA) is postponed, until 2026. HMRC states: “The Government understands businesses and self-employed individuals are currently facing a challenging economic environment, and that…Read More

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