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UK music strikes festive chord Down Under thanks to new trade deal

The UK’s trade deal with Australia is ringing in festive cheer this year, having helped British music companies expand Down Under ahead of the festive period. Please see link for further details https://www.gov.uk/government/news/uk-music-strikes-festive-chord-down-under-thanks-to-new-trade-deal
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New EU pay-gap rules will impact UK businesses

New EU rules on pay transparency that aim to close the gender pay gap look set to have a ripple effect on how businesses in the UK operate. Please see link for further details https://www.accountingweb.co.uk/business/finance-strategy/new-eu-pay-gap-rules-will-impact-uk-businesses
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More delays contacting HMRC?

HMRC have announced that they will be focussing the use of its Self-Assessment helpline on priority queries from 11 December 2023 to 31 January 2024. Taxpayers calling with queries that can be quickly and easily resolved online will be directed to HMRC’s online services from 11 December until the SA deadline on 31 January. The…
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Goodwill and compliance are not just for Christmas

The festive season comes but once a year and so do the questions of what is and what is not allowable. Like dogs, compliance is not just for Christmas, but are employers always aware of their recordkeeping obligations?   Please read more for further details https://www.accountingweb.co.uk/tax/hmrc-policy/business-entertainment-goodwill-and-compliance-are-not-just-for-christmas
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Asda Bosses claim “no holes” in finances despite £4.2 million in debt.

Asda have a complex accounting structure and bosses have told MPs that in the New Year Asda must cover £30m interest on the first tranche of a £4.2bn debt repayment due in February.   Please see link for more details   https://www.accountingweb.co.uk/business/financial-reporting/asda-bosses-claim-no-holes-in-finances-despite-ps42bn-debt
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Separated taxpayer not liable for cgt on joint property.

A female taxpayer who was separated from her husband did not have to pay CGT of £14000 after the first teir tribunal found she had no beneficial interest in the pair’s joint property. Please see link for further details. https://www.accountingweb.co.uk/tax/personal-tax/separated-taxpayer-not-liable-for-cgt-on-joint-property
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Self –assessment tax thresholds. If it ain’t broke don’t fix it.

The changes to the self assessment threshold, aimed at simplifying tax interactions, have raised concerns as cutting down tax return filers without robust HMRC systems may create unnecessary risks for taxpayers. Please see link for more details https://www.accountingweb.co.uk/tax/personal-tax/self-assessment-thresholds-if-it-aint-broke-dont-fix-it
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