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01/02/2024

February Tax Tips & News

Welcome to the Davies Tracey 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!

New Year, New Budget

It might seem like only a few weeks ago that we had the Autumn Statement, but already we've had news in the early days of 2024 that the next Budget is on its way. And with that, a swirling mass of rumours about tax changes - particularly cuts, ahead of a Read More...

Online sellers watch out for 'side hustle tax'

You may have seen one of the early 2024 tax stories popping up in many of the national newspapers relates to a so-called 'side hustle tax'. Is it really a tax? No. Yet we're seeing it reported as a 'New Year tax clampdown' and similar such descriptions. Read More...

£148m in tax bills to be paid in instalments

As the Self-Assessment Income Tax deadline looms (31 January), HMRC has revealed that many people have opted into a scheme to pay their tax bills in instalments. Read More...

Scotland creates new higher income tax band

Scottish taxpayers earning more than £75,000 are set to pay a new higher rate of 45% from 2024-25. The Scottish Government has announced the change following its Budget. Read More...

February Questions and Answers

Q. I've just been told I'm being made redundant by my employer, but they have agreed to a significant settlement agreement. My employment will continue for three months and after that they've agreed to pay one month of salary (still on the payroll in that Read More...

February Key Dates

1st - Due date for Corporation Tax for companies with an April year-end Read More...

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Based in the Tees Valley, supporting clients in the northern region and beyond, our team delivers everything you would expect from first-class accountants. Our services aim to help our business clients to achieve greater profitability, and our individual clients to enjoy greater wealth.

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