As we start the new tax year, there are some big changes affecting taxpaying individuals. “Most taxpayers are affected by one or several of the changes that are introduced this...
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Jeremy Hunt’s “back to work” Budget included announcements on increasing the annual allowance for pension contributions, abolishing the lifetime allowance for all and a new capital allowance relief, plus forecasts...
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Several payments to employees are set to increase in early April 2023. These changes affect all employers. Does your business have employees? Here’s what you need to know: 3 Rate...
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The annual exemption for capital gain tax is about to decrease – by more than half! Reducing the allowance from £12,300 to £6,000 is expected to impact 250,000 taxpayers during...
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If you are eligible for a UK state pension, now is the time to check that your national insurance contributions (NI) are up to date. NI contributions are typically paid...
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Cryptocurrency is growing in popularity. Whilst it’s becoming a familiar term, what does it involve and how does it work? A cryptocurrency is a digital currency. It’s an alternative form of...
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2023 has arrived, bringing a new way of penalising late filing and payments of VAT. From 1 January 2023, HMRC is charging interest on all late payments. There is now...
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A Person of Significant Control. This impressive description is how HMRC refers to someone who: directly or indirectly owns more than 25% of the shares in a company; directly or...
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Chancellor Jeremy Hunt announced his Autumn Statement yesterday. It followed warnings that taxes would increase and spending would be cut. The measures taken aimed to tackle soaring inflation (11.1% in...
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Using a private vehicle for business entitles you and or your employees to claim mileage allowance to cover expenses. HMRC’s current mileage allowance rates are: 45p per mile for the...
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