Blog Search


April Questions and Answers

Q. In his Spring Budget, the Chancellor said ‘full expensing’ would apply to plant and machinery. Does this mean I can write off the balance brought forward in my plant and machinery pool, which was previously written down at 18% on the reducing balance method?

A: The new ‘full expensing’ rules announced in the Spring Budget on 15 March 2023, only apply to new (not second-hand) assets purchased on and after 1 April 2023.

If the brought-forward balance in your plant and machinery pool is now no more than £1,000, you can write off that amount under the current rules, otherwise, you must carry it forward reducing it by 18% each year until it reaches £1000.

Q. I’ve been receiving text messages from advising of new PAYE codes for 2023/24. However, when I log into the HMRC website, it says that no new PAYE codes have been issued. This has been going on for weeks, is it a scam or genuine contact from HMRC?

A: These messages are genuine, but there is a fault with the HMRC system that it is sending out these text messages when no PAYE code changes have been issued.

Q. I want to top up my NIC record by paying to complete seven tax years. To pay online I need an 18-digit reference number which is only available by calling HMRC, but the HMRC telephone line is never answered. How can I make the payment?

A: It is difficult to get through to HMRC by phone, and that is why the deadline for making voluntary NIC payments has been extended to 31 July 2023, as we explained above.

You can pay the NIC due by cheque made out to “HM Revenue and Customs only”. But be sure to write your name and National Insurance number on the back of the cheque, and don’t fold the cheque. Also include a cover letter which details:

  • your name, address, and phone number
  • your National Insurance number
  • how much you are paying
  • the period you are paying for

Send this letter and cheque to:
HM Revenue and Customs
National Insurance Contributions and Employer Office

  • Latest news and testimonials

  • Latest News

    • September Q&A

      Q. I have two small businesses which are treated as a group for VAT purposes, so we only submit a single VAT return covering both …

      Read more
    • Making Tax Digital for Business: update

      In July, the Government confirmed that the Summer Finance Bill would be published in September, with the measures dropped from the pre-election Finance Bill being reintroduced …

      Read more
  • Testimonials

    • Partner – Solicitor

      I have worked with SBL over the last 10 years on numerous matters involving owner-managed business. They are professional, personable, knowledgeable and work incredibly hard to provide the best advice to their clients. I would have no hesitation in recommending SBL.

  • Don’t hesitate to ask

    SBL are here to help. With accountancy advice and tax planning experts on hand to guide you and your business on the pathway to success! You can call us on 020 7580 6822, or email us on or if you’d prefer you can complete our Free Online Enquiry Form and one of the team will be in touch shortly.

    Don’t hesitate to ask

    Don’t hesitate to ask section

    • This field is for validation purposes and should be left unchanged.

    By submitting my details on this form, I consent to being contacted by a member of the SBL Accountants team by email or telephone. Privacy Policy