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Newsletter May 2024

Our May newsletter brings you a few updates that you might find useful. As always, do get in touch if you need further clarification or an idea of how they might affect your own circumstances.

You can find out more about keeping your Childcare Account up to date (make a diary note as it’s every three months!) and how it works, particularly in conjunction with the Tax-Free Childcare scheme. If you are involved with payrolling or would like to consider it as an alternative to the usual P11D for expenses and benefits we have a useful article on it below. The HMRC app is free of charge and holds a whole host of information at your fingertips – from vital reference numbers to your tax position, HMRC communications and more. Our final piece includes details on claiming tax relief on private pension contributions. Our regular diary dates and deadlines take us up to mid-June so you can see what is due and when!

Childcare Account chores

HMRC’s Childcare Account can be used to claim free childcare (if eligible) or pay for Tax-Free Childcare.

Read further…Click Here

Accessing the HMRC mobile APP

HMRC’s free tax app is available to download from the App Store for iOS and from the Google Play Store for Android. 

read further… Click Here

Claim tax relief on pension contributions

You can usually claim tax relief on private pension contributions worth up to 100% of your annual earnings, subject to the overriding limits. Tax relief is paid on pension contributions at the highest rate of income tax paid.

read further… Click Here

Tax Diary May/June 2024

Tax Diary May/June 2024

read further… Click Here

Payrolling employee for expenses and benefits

Employers can register on a voluntary basis (before the start of the tax year) to report and account for tax on certain benefits and expenses via the RTI system. This is known as payrolling and removes the requirement to complete a P11D for the selected benefits at the tax year end.

read further… Click Here

payable by today.