The government announced at Budget 2025 that dividend income, property and savings income, will be subject to new tax rates. These changes will be legislated for through the Finance Bill 2025-26 and will be phased in between April 2026 and April
More...The new rules will allow companies to raise more capital under the following schemes although investors will need to factor in reduced VCT Income Tax relief when assessing opportunities. The Venture Capital Trusts (VCT) and Enterprise Investment
More...The June 2025 reforms introduce a £35,000 income limit for keeping the Winter Fuel Payment, with HMRC recovering the payment from those above the threshold. The WFP is a tax-free payment provided by the government to help older people keep warm
More...Agricultural and business property relief changes that were first announced at Autumn Budget 2024 will come into effect from 6 April 2026. These measures will introduce significant reforms to Business Property Relief (BPR) and Agricultural Property
More...The 2027 reforms will shift more responsibility to personal representatives, who may need to manage withholding arrangements and settle any IHT before pension benefits are released. From 6 April 2027, most unused pension funds and death benefits
More...From 6 April 2026, new tax rules will expand workplace benefits relief. The changes will simplify the treatment of certain low-value workplace benefits-in-kind (BIKs), affecting both employers and employees. The changes extend existing exemptions
More...Accountants often see the impact that excess stock has on a business long before the business owner realises what is happening. Over-stocking drains cash, fills storage space, increases waste, and restricts flexibility at key moments. Many business
More...Many businesses regard their overheads as fixed, predictable, and largely outside their control. In reality, an overhead audit often uncovers costs that have risen quietly, services that are no longer used, and processes that have gone unchallenged
More...The Financial Services Compensation Scheme (FSCS) has raised its savings guarantee for bank deposits, increasing the deposit protection limit from £85,000 to £120,000 per person. This change came into effect on 1 December 2025 and marks a significant
More...HMRC has published a new Making Tax Digital newsletter. This newsletter is mainly intended for taxpayers and agents who are currently testing the Making Tax Digital for Income Tax (MTD for IT) system. MTD for IT will become mandatory in phases from
More...There are now less than 2 months to the self-assessment filing deadline for submissions of the 2024-25 tax returns. We urge our readers who have not yet completed and filed their 2024-25 tax return to file as soon as possible to avoid the stress of
More...VAT road fuel scale charges are fixed, standardised amounts that businesses must use to account for output VAT when they provide fuel for private use in a vehicle that is also used for business purposes. The VAT road fuel scale charges are published
More...Employees with a second job, third job or more may be able to defer or delay paying Class 1 National Insurance on their additional employment. This deferment can be requested when Class 1 National Insurance contributions are being paid to more than
More...The rules that govern who pays Income Tax in Scotland is determined by whether an individual is considered a Scottish taxpayer. For most people, determining Scottish taxpayer status is straightforward. Individuals who live in Scotland are considered
More...Many modern companies insist on the inclusion of restrictive covenants to limit the freedoms of employees upon the termination of their contracts. However, the High Court recently reinforced the stringent legal principles governing the enforceability
More...Food and energy costs remain central concerns for households and businesses because they influence everything from wages to margins to day to day operating decisions. Inflation is easing compared to the volatility of the last few years, but the
More...As we look ahead to 2026, there is growing speculation about how the Bank of England will manage interest rates during what many economists believe will be a period of calmer inflation, steadier wage growth and a more predictable economic backdrop.
More...The chancellor Rachel Reeves announced as part of the Autumn Budget measures that the Income Tax thresholds will be maintained at their current levels for a further three years until April 2031. This will see the personal tax allowance frozen at
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