KC Accountancy Services

Heads Up, UK Parents: High Income Child Benefit Charge for 2024/25 It's crucial to be aware of how the High-Income Child Benefit Charge (HICBC) might impact your finances. Here’s what you need to know for 2024/25: 🔢 Income Threshold: If either you or your partner earn over £60,000 annually, you could face this charge. The higher your income, the more of your Child Benefit could be reduced. 💸 How It Affects You: For every £100 you earn above £60,000, 1% of your Child Benefit will be taxed. This means if you earn £70,000, you could see a 50% reduction in your Child Benefit. 📝 Steps to Take: Review Your Income: Check if your earnings exceed the threshold. Declare It: If you’re affected, you’ll need to report it on your Self-Assessment tax return and adjust your payments accordingly. Seek Advice: Unsure how this affects you? We can help you navigate the complexities and ensure you’re managing your tax obligations effectively. Don’t let this catch you off guard—stay ahead and plan wisely! #HighIncomeChildBenefitCharge #HICBC #TaxYear2024 #UKTaxes #ChildBenefit #Accountancy #FinancialPlanning #TaxAdvice

TOP TIP... Did you know that if you’re married or in a civil partnership, you could be missing out on valuable tax savings? 💍 The UK Marriage Allowance allows one partner to transfer up to 10% of their personal tax-free allowance to the other, potentially saving up to £252 a year! Here’s how it works: 1. Eligibility: One partner must earn less than the personal allowance (£12,570 for 2024/25), and the other must be a basic rate taxpayer. 2. Transfer: The lower earner can transfer 10% of their allowance (£1,257) to their partner. 3. Claim: You can apply for this allowance online via the HMRC website or with help from your accountant. Don’t let this opportunity slip by—check if you’re eligible and claim your savings today! If you need help navigating the process, we’re here for you! #MarriageAllowance #TaxSavings #UKTaxes #Accountancy #FinancialAdvice #CouplesFinance #TaxTips

Growing your business but hitting some stumbling blocks? Swipe to learn how to tackle them and keep moving forward...👉 It’s important to remember EVERY business faces challenges. It’s how you handle them that makes the difference. Keep pushing forward and stay resilient! Remember our door is always open, we love hearing your ideas and being a sound board for you. Link to website in bio or get in touch today! 👩💻 📩 info@kcaccountancyservices.co.uk 📞 01691 674792 #BusinessGrowth #Entrepreneurship #AccountingTips #SmallBusiness #BusinessStrategy #OvercomeChallenges

Top Tip – Claim for Working From Home (WFH) Working from home? Don’t overlook the potential tax savings on your home office! 🏠💼 ✅ Why It Matters: If you use part of your home exclusively for work, you can claim a portion of your household bills—like electricity, heating, and even council tax—against your tax bill. 🔍 What to Consider: -Proportionate Claim: Calculate the percentage of your home used for work and apply that to your expenses. -Simplified Method: HMRC offers a flat rate allowance if you work from home regularly, making it easier to claim. Make sure you're not missing out on these potential savings. Contact us to get it right and maximize your deductions! #TaxTip #HomeOffice #TaxSavings #WorkFromHome #Accountancy #FinancialAdvice #SmallBusiness

Would you consider self-employment to stay active and flexible in your later years? 💼✨ Stuart Lewis, Chief Executive of Rest Less, said: 'With the state pension age soon to be 67 and set to go higher still, many people are choosing to work beyond the point of traditional retirement. For many, self-employment is a great option as it allows people to remain active and engaged in the community and workforce whilst also providing greater flexibility – leveraging their skills, experience and network to make an impact. The decision to go self-employed can be driven by wildly different sets of circumstances from people living comfortably and pursuing an entrepreneurial passion to those who are forced to generate an income and have not been able to find a permanent solution in the mainstream workforce.’ Don’t forget we offer a variety of services for self-employed individuals, let us worry about the paperwork and keeping you compliant with HMRC, leaving you to concentrate on the profits! Tap the link in bio to our website 💻 #SelfEmployed #RetirementGoals #EntrepreneurLife #HMRC #WorkLifeBalance

Have you recently started working for yourself?Don't forget to register for Self Assessment with HMRC! 💻 If you don’t register by 5 October in your business's second year, you could face a fine. The registration process is simple. You can do it yourself by visiting the HMRC page here: 👇 https://lnkd.in/dcxcQXp ⭐ Need help? ⭐ We offer a registration service for £150.00 + VAT. What does this service include? - Registration with HMRC for all relevant taxes - Guidance and support through face-to-face or phone meetings - Assistance in setting up initial systems to manage your new business Feel free to message us for help, or get in touch: 📩 info@kcaccountancyservices.co.uk 📞 01691 674792 #SelfEmployed #SmallBusiness #TaxHelp #HMRC #SelfAssessment #BusinessOwner #Freelancer #Startup #AccountingServices #BusinessSupport

Running a business can be one of the most challenging things you will ever experience, keep pushing and adjusting to change and you will reap the benefits! ✨ Get in touch with us today if you are looking for help with the day to day bookkeeping and accountancy tasks, let us take away that part leaving you time and energy to focus on your business and future growth. #accountingservices #AccountingExperts #FinancialFreedom #SmallBusinessSupport #businessowner #smallbusinesstips

Does your accountant or current situation give you this peace of mind? Perhaps it’s time to get in touch and see how we can make things easier for you! 📩 info@kcaccountancyservices.co.uk 📞 01691 674792

Navigating the complex world of UK taxes and accounting can be challenging, but you don’t have to do it alone. Whether you're a business owner or an individual, we’re here to simplify your financial journey with expert advice and personalised solutions. From tax planning to financial forecasting, we’ve got you covered every step of the way. 💬 Ready to take control of your finances? Let’s connect today! 👉 https://lnkd.in/exk-Bq36 👈 #UKAccountant #TaxPlanning #FinancialExpert #SmallBusinessSupport #HMRCCompliance"

There is nothing more rewarding than hearing we are doing the right thing! Communication & reassurance with our clients will always take priority. We would love you to know more about our services, why not head to our website or get in touch if you’d like more information. 👇 https://lnkd.in/exk-Bq36 📩 info@kcaccountancyservices.co.uk 📞 01691 674792