February 2023

Welcome to Our Latest Newsletter

In all things tax, time is of the essence.

Checking that your personal affairs, business affairs and your plans for the long term are arranged as tax efficiently as possible is always important. The optimum time to review this is the period leading up to 5 April, the end of the tax year.

Such a review may be even more beneficial than usual this year. Major change to tax bands and allowances has been announced over the course of 2022. This means some last-chance opportunities to make use of allowances at present rates and to access current tax bands. Similarly, there may be areas where you have discretion over the timing of income and it is worth establishing whether income is better taken this year or next.

See our lead article for our 2023 Year End Tax Planning Checklist.

Budget - Wednesday 15 March

A reminder that the Peplows Budget Party has returned this year, to be held at Exeter Racecourse.  We would be delighted if you could join us.  Please click here for more details and to book your place.

Below is our round-up of the latest tax and business news. Please contact us if you want to talk about how these updates affect you or your business. We are here to support you!

2023 Year End Tax Planning Checklist

130% super deduction ends soon

Check your National Insurance record before 5 April 2023

Struggling to pay your tax bill on time? Make time to pay arrangements online

Managing your cash flow is essential right now!

HMRC is testing an automated SMS system

Selling online and paying taxes

Minimum Wage & Statutory Pay Rates from April 2023

Business rates list closes soon

Households, businesses, and organisations who are “off the gas grid” to receive energy bill support over the coming weeks

Cost of Living Payments from Spring 2023 – Low income households

HMRC late payment interest rates to be revised after Bank of England increases base rate

UK sets out plans to regulate cryptoasset activities – Consultation announced

The digital pound consultation

Pensions: Value for Money Consultation

New law gives employees and other workers more say over their working hours

‘Here to help’: Commission launches new push on trustee guides as sector faces challenging year

Made Smarter Innovation: Industry ready Robotics and Automation

Ban on single-use plastics in England

Fishing fund gears up to help industry go green

Sustainable Farming Incentive roll-out

Countryside Stewardship Higher Tier application window opens for 2024 agreements