Welcome to the
George Hay December Highlight

With another year drawing to a close, our team are busy supporting clients with their requirements in the run up to Christmas – from payroll and tax returns to year-end accounts, audits and Will-writing.

In amongst the hard work, we have also found some time to celebrate another good year for the practice and our collective achievements. You can read more about the festive fun we’ve been having in this month’s GH Insights.

In this month’s technical round-up, we cover the tax implications of gifts to employees at Christmas; we explain the changes to the rules surrounding double-cab pick-ups announced at the Autumn Budget; we issue a reminder about the new reporting requirements affecting online sellers, and what to do if you are unable to settle your income tax liabilities; we look at tax-efficient remuneration options post-Budget, and we highlight the benefits of e-invoicing for businesses.

To speak to us about anything we’ve covered below, to share your concerns about challenges that lay ahead, or to explore how you could extend the scope of the support we currently offer you in 2025, please contact us.

Reflecting on the past year, and the new one ahead

– A message from Senior Partner, Barry Jefferd

Christmas 2024 – Opening hours

Please be aware that our offices will close at 12.00pm on Friday 20 December, owing to our Christmas Lunch. Our offices will remain closed until 2nd January 2025.

Our Payroll Bureau, GH Payscheme, will operate as follows:

GH Payscheme*:

Date	Working hours
Friday 20 December	9:00am-11:30am
Monday 23 December	9:00am-1:00pm
Tuesday 24-Thursday 26 December (inc)	CLOSED
Friday 27 December	9:00am-1:00pm
Monday 30 & Tuesday 31 December	9:00am-1:00pm
Wednesday 1 January	CLOSED
Thursday 2 January	Normal hours resume

*If you need to speak to a member of the Payroll team over the festive period, please call 01767 220199 to contact them directly.

Technical News

Christmas cheer or tax liability? How trivial benefits impact your business

With Christmas just around the corner, you might be thinking about how your…

What is the most tax efficient salary choice for you after the Budget?

Prior to the Chancellor’s Budget, we considered what any changes…

Could electronic invoicing help to tackle late payments?

In a bid to tackle problematic late payments, that are costing small businesses around £22,000 a year…

Government turns back on double-cab pick-up rules

Following a series of U-turns on the rules surrounding the tax treatment of double-cab pick-ups, the latest…

New reporting requirements for online platforms

New reporting requirements for digital platforms – such as eBay and Airbnb – came into effect at the start of…

I am unable to pay my Income Tax bill – What can I do?

Sometimes, paying your tax bill on time can be difficult when costs are high…

GH Insights

Kicking off the Christmas festivities…

Across our offices, we have been getting well and truly in the spirit of the season with bowling (in Santa…

Celebrating business excellence in Hertfordshire – biz4Biz Awards 2024

As long-time supporters and sponsors of the biz4Biz awards, we were delighted…

Cloud Accounting Tips & Tricks Hub

In recent months, we’ve been imparting tips and tricks to help you get the most out of cloud accounting software…

Key Dates

December 2024

22 December 2024 - Deadline for electronic remittance of PAYE, NICs and CIS to HMRC.
30 December 2024 - Deadline for filing Income Tax return with HMRC if Tax to be collected through PAYE Code Number.
31 December 2024 - Deadline for filing of accounts with Companies House for accounting periods ended 31 March 2024.
31 December 2024 - Corporation Tax returns due for accounting periods ended 31 December 2023.

January 2025

1 January 2025 – All education services and vocational training provided by a private school in the UK for a charge will be subject to VAT at the standard rate of 20 per cent.
7 January 2025 – VAT returns and payments due for Accounting Quarter period ending 30 November.

Click here for more key dates...

Download our Companies House reforms guide

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Biggleswade
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George Hay is the trading style of George Hay Partnership LLP

Registered in England and Wales number OC373025. A full list of members can be viewed at our registered office: Registered Office: Brigham House, High Street, Biggleswade, Bedfordshire, SG18 0LD

Registered to carry on audit work in the UK, regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales

GH Payscheme is a trading name of GH Online Accounting Limited. GH Online Accounting Limited is registered in England No 3829902. Registered Office: Brigham House, High Street, Biggleswade, Bedfordshire, SG18 0LD GH Online Accounting Limited a subsidiary of George Hay Partnership LLP

GH Probate is the trading style of GH Probate Limited. Registered in England and Wales number 9630102. Registered Office: St George’s House, George Street, Huntingdon, Cambridgeshire, PE29 3GH

Authorised to carry out the reserved legal activity of non-contentious probate in England and Wales by the Institute of Chartered Accountants in England and Wales

GH Wills is the trading style of GH Wills Limited. Registered in England and Wales. Company Number: 15577357. Registered office: St. George’s House, George Street, Huntingdon, Cambridgeshire, PE29 3GH.

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Welcome to the George Hay December Highlight