🚨 HMRC September 2024 Updates: Essential Information for Businesses! 🚨

The latest updates from HMRC are here, and they bring some important changes that businesses need to be aware of. Here are the highlights:

▶️ Corporation Tax Reminders - Starting this month, HMRC will no longer send corporation tax return and instalment payment reminders, interest statements, or payment receipts. Businesses should ensure they have their own systems in place to track these deadlines.

▶️ Agent List Notices - From October 2024, HMRC will stop sending the agent list of issued notices to deliver a company tax return. This is part of a trial to streamline communications and reduce paper usage.

▶️ Self Assessment Threshold Change - Updates to the Self Assessment threshold have been implemented. Make sure to review the new thresholds to determine if you or your clients need to file a Self Assessment return.

▶️ Extended Loss Carry Back - Businesses can now benefit from an extended loss carry back period, allowing them to offset losses against profits from previous years. This can provide significant tax relief for businesses facing financial difficulties.

▶️ VAT Registration Estimator Tool - HMRC has launched a new VAT Registration Estimator tool to help businesses determine if they need to register for VAT and understand their obligations.

▶️ Property Rental Income Statistics - New statistics on property rental income have been released, providing valuable insights for landlords and property investors.

ℹ️ Stay informed and ensure compliance by reviewing these updates in detail. For more information, check out the full bulletin on the HMRC website.

Reference: 2024-0003-008