Many more sole traders and landlords will be required to comply with making tax digital (MTD) for income tax when the qualifying income threshold is reduced from £30,000 to £20,000.
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The sunset clause which was set to end the Enterprise Investment Scheme (EIS) and Venture Capital Trust (VCT) scheme on 5 April 2025 has been extended for a further ten years.
Continue ReadingIt is common for some employers to pay their workers earlier than usual in December, for example if the business will be closed during the festive period.
Continue ReadingAs announced in the Autumn Budget, the national minimum wage (NMW) and the national living wage (NLW) are set to increase from April 2025.
Continue ReadingThe changes to capital gains tax (CGT) announced in the Autumn Budget are subject to anti-forestalling rules designed to prevent taxpayers from circumventing the new rates and rules.
Continue ReadingHMRC has tightened up the process for claiming tax deductible employment expenses following a series of high-profile scandals.
Continue ReadingWhen was the last time you checked your national insurance (NI) record for unexpected gaps or viewed your state pension forecast?
Continue ReadingAt the Autumn Budget the Chancellor announced plans to remove the exemption which allows unused pension funds to be inherited tax free.
Continue ReadingAs expected, the Chancellor has confirmed the abolition of the generous tax regime enjoyed by non-UK-domiciled individuals, or ‘non-doms’
Continue ReadingPrivate schools will need to register for VAT and charge output VAT on education and boarding services when the exemption that currently applies is removed from 1 January 2025.
Continue ReadingThe stamp duty land tax (SDLT) surcharge levied on purchases of second and subsequent homes has been increased from 3% to 5% with immediate effect
Continue ReadingThe Chancellor has extended the current freeze on inheritance tax (IHT) thresholds until 2030 and announced changes to the treatment of inherited pensions and other IHT reliefs.
Continue ReadingReversing the previous Government's u-turn on the tax treatment of double cab pick-ups, they will revert to being treated as cars for certain taxation purposes from April 2025.
Continue ReadingShowing renewed commitment to promoting electric vehicles over petrol, diesel and hybrid models, the Government has extended the 100% first year allowance for zero-emission cars.
Continue ReadingThe rates of capital gains tax (CGT) payable on gains arising from assets other than residential property have been increased with immediate effect
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