News
Stay informed and up to date with the latest news and developments.
Employer Services
The deductibility of training costs
HMRC has recently published guidance to provide greater clarity about the tax deductibility of training costs for the self-employed....
General News & Developments
Buy-to-let owners may be selling up
While the higher rate of capital gains tax (CGT) on residential property disposals has dropped by 4%, from 28% to 24%, from 6th April 2024...
General News & Developments
HMRC begins to ramp up its checks
There’s no respite for HMRC with inheritance tax (IHT) accounts, undeclared dividend income and gains from share disposals to scrutinise....
General News & Developments
How to navigate the £500 trust income exemption
The introduction of a £500 income exemption from 6th April 2024 will impact many trusts....
General News & Developments
Increased income: the double-edged sword
With tax bands and other thresholds frozen, taxpayers should be aware of the implications of their income increasing. Increased income can mean more than facing a higher tax bill....
General News & Developments
The national insurance ‘tax cut’
For employees, the national insurance tax cut announced in the Autumn Statement took effect last month, on the 6th January....
General News & Developments
Changes to ISA reforms from April 2024
The 31st January 2024 deadline for submitting a 2022/23 self-assessment tax return is not far off, especially for those not yet registered....
General News & Developments
Handy hints ahead of self-assessment
The 31st January 2024 deadline for submitting a 2022/23 self-assessment tax return is not far off, especially for those not yet registered....
General News & Developments
Navigating HMRC’s New Powers: Understanding Digital Platform Reporting Rules & Side Hustle Regulations
HMRC has acquired expanded powers that mandate digital platforms to share details of individuals engaged in services or selling goods....
General News & Developments
Updated tax guidance for electronic company car charging
HMRC has updated its guidance to clarify that there is no taxable benefit when an employer reimburses employees who charge their electric company cars at home....
General News & Developments
Are we saying farewell to inheritance tax?
In July, the government was reported as holding talks on abolishing inheritance tax (IHT). This wasn’t given much credence at the time, but there are now reports that the March 2024 Budget will include a reduction to the 40% IHT rate as a prelude to future abolishment....
General News & Developments
Guidance on deferring your state pension
With HMRC under pressure to collect more tax owed, it is moving away from the tolerance shown during the pandemic and back towards a normal level of debt enforcement activity. ...
General News & Developments
Fraud countermeasure drives R&D tax relief changes
The level of fraudulent claims being made for research and development (R&D) tax relief has prompted HMRC to introduce a new procedure...
General News & Developments
Finalising returns figures and filing early
HMRC is chasing taxpayers who have submitted tax returns for 2021/22 containing unresolved provisional figures, while also extolling the benefits of filing early for 2022/23....
General News & Developments
Behind the numbers on income tax
New income tax statistics from HMRC appear to be good news, but the numbers are not what they seem.
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General News & Developments
Agri-tax reliefs set for restrictions
Draft legislation has been published that will, from 6 April 2024, restrict the geographical scope of agricultural relief and woodlands relief to property in the UK....
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