Welcome to the September 2023 News Update from Prestige Business Management
September 2023 News Update – featuring additional news developments from our newsletter series. Stay informed with the latest news in business support and financial affairs.
Key Dates Coming Up
Due date for payment of Corporation Tax – 1 October 2023
for period ended 31 December 2022
Due date for register for Self-Assessment – 5 October 2023
If you are registering for the first time
PAYE, NIC and CIS payment due – 19 October 2023
(postal) for month end or quarter end 5 October 2023
CIS return due – 19 October 2023
Payments made to subcontractors in month to 5 October 2023
PAYE, NIC and CIS payment due – 20 October 2023
(electronic) for month end or quarter end 5 October 2023
Corporation Tax return – 31 October 2023
For quarter ended 31 October 2022
Due date to file your Self-Assessment tax return – 5 October 2023
If submitting a paper tax return (Online due date is 31 January 2024)
Important Self-Assessment Tax Deadlines Coming Up
There are a number of important self-assessment tax deadlines coming up. Especially if you are new to self-assessment. If you started self-employment between 6 April 2022 and 5 April 2023, you are required by law to register for self assessment by 5 October 2023. If you intend to submit a paper tax return this must be filed by midnight on 31 October. If you intend to submit your self-assessment tax return online, you have until midnight on 31 January 2024 to do so.
Experimental Reverse Happy Hour
The owners of Slug & Lettuce have announced they will be running a trial whereby they will charge approximately 20p more per pint during peak hours. They say this is to tackle price increases. Peak pricing is nothing new. It is used by other sectors like travel companies charging a premium during busy seasons, plus airlines and taxi services. Bars throughout the UK have been grappling with increased costs, including energy, leading to record numbers of closures.
Strike Dates in October
Rail strikes are planned for Wednesday 4 October. Services likely to be affected are:
Chiltern Railways, Cross Country Trains, Greater Anglia, LNER, East Midlands Railway, c2c, Great Western Railway, Northern Trains, South Eastern, South Western Railway, Transpennine Express, Avanti West Coast, West Midlands Trains, GTR, Island Line, Southeastern, Southern including Gatwick Express
London Underground workers will strike on Wednesday 4 and Friday 6 October.
For the first time in history junior doctors and consultants are uniting to take joint strike action. Both will strike on Monday 2, Tuesday 3 and Wednesday 4 October. People requiring emergency care are advised to use A&E as normal or call 999. For other concerns call 111 or GP services.
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Why do we Pay Income Tax? – 20 September 2023
Income tax is collected by the government, from your personal income, to pay for public services including but not limited to education, welfare and the NHS. Most personal income is subject to tax including earnings from employment, self-employment, some benefits and pensions, rental income and returns from savings and investments, over certain thresholds. Income tax is one of the main sources of revenue for the government and it is levied on most types of personal income, In fact only approximately 60% of the workforce has earned income over the tax free threshold. Those who earn over the personal allowance will be taxed at a rate relative to their earnings. tax is split into bands that are taxed at different rates. These can be adjusted by the government according to economic trends and the revenue required to deliver essential projects and services to the nation. Find out more.
Accounting for Your Landscape Gardening Business – 11 September 2023
We offer fresh accounting for your landscape gardening business. We understand that accounting will often be the last thing on your mind after a hard day’s work. That’s why we offer simple, smart, custom accounting solutions for landscape gardening businesses of every scale. We understand the tools of the trade for every burgeoning landscape gardening business. Prestige Business Management uses the latest and best technology to support businesses of every scale. We especially understand the challenges for business that relies on your physical skills and presence, on the go, in all seasons. This is why we will offer a range of strategies and platforms to track your income and expenses while you are out and about, in every weather. We can either handle all of your accounting or just the basics, depending on exactly what you need. Find out more.
Payroll / PAYE for Startups – 4 September 2023
Payroll / PAYE for start-ups is an essential function within every business. Payroll is the process that matches workers with their wages. If payroll gets off track, things can go very wrong very quickly. So you definitely want to avoid errors within payroll / PAYE for start-ups whenever possible. Avoiding errors within your business payroll helps you to retain trust and commitment among your employees, as well as support your business’s record keeping and cash flow forecasting. When you form your own business there are certain challenges associated with managing payroll / PAYE for start-ups. Fortunately we can help businesses of every scale to navigate the Pay-As-You-Earn (PAYE) system. Here is everything you need to know. Read in full.
September Top Tips
With Halloween just around the corner, spooky surprises can sneak up on your spending. Here are our top tips for saving money this Halloween.
Pick up a Pumpkin
Check out pumpkin prices. An extra large pumpkin will set you back as much as £3, a large one is about £1.65 but a standard size is only about 80p. Once it’s on the doorstep will you even notice the difference. Or three standard sized pumpkins might be more effective than one large one.
Once your pumpkin is carved it won’t keep for very long before it rots. So hold off flexing your creative muscles until at least the night before to make sure it’s looking fresh on the night.
To the same point, make sure you get your design right the first time. Make it easy on yourself with any number of downloadable templates.
Have a go with old eyeliners or eyeshadows for a splash of spooky colour to save on buying a whole new set that might only get used once. Try out some talc for a spooky skull or ghou;ish ghost look.
Prestige Business Management Works for You
At Prestige Business Management we can help your business understand the best solutions for the success of your business. Find out what we can do for you. Call us today on 0203 773 2927.