April 2024 Newsletter
Friend & Grant Ltd
Accountancy | Tax Advice | Growing Businesses from start up to exit strategy | Platinum Xero Partners | Probate
Happy new (tax) year! ??
Here we go again… operation ‘tax return completion 2023-24’ is a go!
Our Tax Return software is all up to date with the latest version and the Tax Team are ready and raring to dive in, and we are busy requesting records from clients!
It can be easy to push your Tax Return to the bottom of the to-do list, especially with the 31st January 2025 deadline seemingly an age away.
However, we know all too well that this deadline comes round fast, and it’s good to get an understanding of your tax liability sooner rather than later – that way, you’ve got time to plan your finances and save if necessary.
P11Ds - Benefits in Kind
If you’ve provided any of your employees with any employment benefits during 2023-24, then you will need to report these to HMRC via a form P11D.
Benefits in kind include things like medical insurance, a company vehicle or gym memberships.
Likewise, if your limited company provides you with any benefits as a director, then a P11D may need to be completed.
The deadline for these is 6th July 2024, so if you haven't previously completed a P11D this is something to start thinking about ahead of the deadline.
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