WDA Accountants

WDA Accountants At Warren Day Accountants we offer a fresh approach to accounting. We keep it simple, accurate and cost effective.

We are knowledgeable, friendly and go the extra quarter for our clients.

If you have taxable income of less than £17,570 in 2023-24 you will have no tax to pay on interest received. This figure...
20/03/2024

If you have taxable income of less than £17,570 in 2023-24 you will have no tax to pay on interest received. This figure is calculated by adding the £5,000 starting rate limit for savings (where 0% of the interest is taxable) to the current £12,570 personal allowance. However, it is important to note that if your total non-savings income exceeds £17,570 then the starting rate limit for savings is unavailable.

There is still time to register for the marriage allowance before the current tax year ends on 5 April 2024. The marriag...
19/03/2024

There is still time to register for the marriage allowance before the current tax year ends on 5 April 2024. The marriage allowance applies to married couples and those in a civil partnership where a spouse or civil partner does not pay tax or does not pay tax above the basic rate threshold for Income Tax (i.e., one of the couples must currently earn less than the £12,570 personal allowance for 2023-24). HMRC has revealed that March is the most popular month for marriage allowance applications, with almost 70,000 couples applying in March last year.

The replacement of domestic items relief enables landlords to claim tax relief when they replace movable furniture, furn...
18/03/2024

The replacement of domestic items relief enables landlords to claim tax relief when they replace movable furniture, furnishings, household appliances and kitchenware in a rental property. The allowance is available based on the cost of domestic items such as free-standing wardrobes, curtains, carpets, televisions, fridges and crockery.

1 April 2024 - Due date for corporation tax due for the year ended 30 June 2023.
18/03/2024

1 April 2024 - Due date for corporation tax due for the year ended 30 June 2023.

A higher rate of Capital Gains Tax (CGT) applies to gains on the disposal of residential property if the gain falls into...
15/03/2024

A higher rate of Capital Gains Tax (CGT) applies to gains on the disposal of residential property if the gain falls into the higher rate band. In the Spring Budget, the Chancellor announced a reduction in the higher rate that exists for residential property from the current rate of 28% to 24% from 6 April 2024. These rates apply to higher rate taxpayers as well as to trustees and personal representatives. The lower rate that applies to basic rate taxpayers will remain unchanged at 18%.

As part of the Spring Budget measures, the Chancellor announced that the duty rates on beer, cider, wine and spirits wou...
14/03/2024

As part of the Spring Budget measures, the Chancellor announced that the duty rates on beer, cider, wine and spirits would be frozen at the current rates from 1 August 2024 until 1 February 2025. This is an extension to the previous alcohol duty freeze announced in last year’s Autumn Statement that took effect on 1 February 2024 and was scheduled to last for 6 months until 1 August 2024. The Chancellor said this move will benefit some 38,000 pubs across the UK.

The High Income Child Benefit Charge (HICBC) came into force January 2013 and has applied to taxpayers whose income exce...
13/03/2024

The High Income Child Benefit Charge (HICBC) came into force January 2013 and has applied to taxpayers whose income exceeds £50,000 in a tax year and who are in receipt of child benefit. It was announced as part of the Spring Budget measures that the income threshold at which HICBC starts to be charged will be increased from £50,000 to £60,000 effective from April 2024.

In the Spring Budget, the Chancellor extended the fuel duty cut for a further 12 months to help support households and b...
12/03/2024

In the Spring Budget, the Chancellor extended the fuel duty cut for a further 12 months to help support households and businesses at a time of high oil prices. The Chancellor acknowledged that the rising price of fuel places a huge burden on families and businesses.

The taxable turnover threshold that determines whether businesses should be registered for VAT will increase from £85,00...
12/03/2024

The taxable turnover threshold that determines whether businesses should be registered for VAT will increase from £85,000 to £90,000 from 1 April 2024. The taxable turnover threshold that determines whether businesses can apply for deregistration will be increased from £83,000 to £88,000 on the same date. It had been previously announced that the rates would be frozen until 31 March 2026. However, the Chancellor’s announcement makes the first change in 7 years to the rates and has been designed to help SMEs.

In a move that may partly have been prompted by seeking to mirror a longstanding policy of the Labour party, the Chancel...
11/03/2024

In a move that may partly have been prompted by seeking to mirror a longstanding policy of the Labour party, the Chancellor has announced that the generous non-dom rules are to be axed.

Address

Cube House 5A Whytecliffe Road South
Croydon
CR82AY

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 4pm

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