by EOACC | Apr 8, 2024 | Tax Charges
HM Revenue & Customs (HMRC) have confirmed that Child Benefit rates increased on 6 April 2024. A family with one child will now receive up to £1,331 a year and up to £881 a year for each additional child. Payments are made to families on a 4-weekly basis and paid...
by EOACC | Apr 8, 2024 | Tax and Business Updates
As a result of a new UK-Australia Free Trade Agreement (FTA), UK artists will now be able to claim resale royalties when their art is resold in the Australian professional art market. Previously, UK artists have not received any royalties when their artwork was resold...
by EOACC | Apr 8, 2024 | Tax and Business Updates
The Low Pay Commission (LPC) has published a report on the future of the National Minimum Wage beyond 2024. In recent years, the LPC has been setting the National Living Wage based on a target of two-thirds of median hourly earnings. The National Living Wage is now...
by EOACC | Apr 8, 2024 | Self-Employed
HM Revenue & Customs have recently updated and clarified their guidance on training costs paid by the self-employed. The general rule for whether the cost of a training course can be deducted from your self-employed profits is that it must be incurred wholly and...
by EOACC | Apr 3, 2024 | Employment
From 6 April 2024, the 2% cut in employee national insurance contributions will come into effect. Employees will now be deducted 8%, rather than 10%, on monthly earnings between £1,048 and £4,189. A 2% deduction on earnings above this amount continues to apply. There...
