One of the said changes is the Income Tax Rates and Bands. From over £150,000 (2022/2023), it is now over £125,140. You can check this reference for the details of the different changes: New Tax Year (2023/24) Guide.

Thus, ensure to meet the new threshold so the taxes for the year 2023-2024 will reflect.

If you have questions with regard to the updates, you may contact HMRC support.

I've added these articles that talk about reporting VAT to HMRC:

Just let me know if there's anything else that I can help with. I'll always be here!

jpc4Author

so will it automatically update and show?

AbegailS_

Level 6

Thanks for getting back to us, @jpc4.

I want to make sure that we provide you with the best resolution to your concern.

Can you please verify if this is for a standard or advanced payroll?

I'll keep an eye on your response. Have a good day.

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