Welcome to our first newsletter for 2024.  Our monthly newsletter, previously Insider, was in need for a well-earned update, so we are delighted with our new look newsletters which provide valuable information for our readers.

This month we focus on the following topics:

HMRC LAUNCHES CRYPTOASSEST TAX DISCLOSURE SERVICE – HMRC has rolled out a new initiative enabling taxpayers to voluntarily disclose unpaid tax on cryptoassets covering exchange tokens, non-fungible tokens, and utility tokens.

OVERSEAS FIRMS PLEDGE TO INVEST BILLIONS IN THE UK – In November, Prime Minister Rishi Sunak hosted a summit at Hampton Court to spotlight foreign firms’ plans to invest £29.5 billion in the UK, signalling confidence in the economy.

ADVISORY FUEL RATES DECEMBER 2023 – HMRC has published the latest advisory fuel rates (AFR) for company car users, which applies from the 1st December 2023.

HMRC REMOVES PAYE SELF-ASSESSMENT THRESHOLD – HMRC has announced a major shift in tax procedures, exempting high earners with PAYE income exceeding £150,000 from self-assessment tax returns starting in the 2024/25 tax year.

WANT TO TALK TO AN EXPERT? Call one of the team at Porter Garland for advice on any of your financial matters.  Or to keep reading, click this link: newsroundup-jan24-default

And finally, wishing you best wishes for prosperous 2024.

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