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To July’s Tax Tips & News, our newsletter designed to bring you tax tips and news to keep you one step ahead of the taxman.

If you need further assistance just let us know or you can send us a question for our Question and Answer Section.

We are committed to ensuring none of our clients pay a penny more in tax than is necessary and they receive useful tax and business advice and support throughout the year.

Please contact us for advice on your own specific circumstances. We're here to help!
July 2024
· Battle lines drawn on tax – but is there a 'conspiracy of silence?'
· Budget will loom following General Election result
· Tax lost to error and ‘failure’ rises – four years on from digital tax
· As Euro 2024 kicks off, tax spotlight takes a Football focus
· July Questions and Answers
· July Key Dates
Battle lines drawn on tax – but is there a 'conspiracy of silence?' top
You’ve probably heard a fair bit about tax so far in this General Election campaign, with many claims and counter-claims thrown around by the major parties. How do we know what to really make of it? For seasoned political aficionados, it is a familiar story at election time. Do the numbers add up? Can the country really afford the policies that have been put forward? Read More
Budget will loom following General Election result top
Tax lost to error and ‘failure’ rises – four years on from digital tax top
Once the votes are all counted and we know who the winners and losers are in this year’s General Election on 4 July, minds will start turning to the implementation of the policies promised by the incoming party. Read More Whilst the main focus of the nation in terms of tax talk has all been about the General Election, some very interesting figures have been published this month by HMRC. Read More
As Euro 2024 kicks off, tax spotlight takes a Football focus top
Whilst many of you will have been tuned in to watch Europe’s top footballing nations battle it out in Euro 2024 in Germany, back in the UK there has been some attention on a rarely discussed aspect of the beautiful game – tax. Read More
July Questions and Answers top
July Key Dates top
Q: I'm a business owner. I've recently purchased new equipment for my business costing £74,000. Specifically, could you explain how the Annual Investment Allowance (AIA) works for the 2024/25 tax year and how I can claim it for these purchases? Answer

Q: I’m self-employed and have heard about the benefits of using the Simplified Expenses system for calculating some of my business expenses. Could you explain how this works for the 2024/25 tax year and what kind of expenses I can claim. Answer

Q: Our company has previously claimed R&D tax relief under the Research and Development Expenditure Credit (RDEC) scheme but I’m aware that there have been changes for the 2024/25 tax year. Can you please summarise what we should be aware of and how this might affect our next claim? Answer

- Final deadline for businesses for filing P11Ds for employees


- For employers operating PAYE, this is the deadline to send an Employer Payment Summary (EPS) to claim any reduction on what you’ll owe HMRC


- Deadline for employers operating PAYE to pay HMRC. This is also the quarterly deadline for businesses that pay per quarter. For those paying by post, the deadline is 31 July.


- Corporation Tax Returns are due for companies with year-end of 31 July

Need Help? top
New Clients Welcome top
Please contact us if we can help you with these or any other tax or accounts matters.

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About Us top
Abatax Accountants are based in Newport Pagnell, Milton Keynes, offering local business owners and individuals a wide range of services.

All clients are entitled to fixed fees, work delivered on time and unlimited phone support. Visit our website https://www.abatax.co.uk for more information.

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