The student loan repayment threshold for England and Wales has been frozen at £25,000 until 2027, to the detriment of many new university students this September. Increased numbers of UK students are going to university…
Can you spot a fake HMRC letter?
Unfortunately, scam warnings have become a regular occurrence. The latest scam highlighted by HMRC is rather ‘old school’, involving letters posted to companies instead of the more usual digital communication. The scam letters being sent…
Dividend allowance cut doubles taxpayers
With the dividend allowance now cut to just £500, the number of taxpayers paying tax on dividend income for 2024/25 is expected to be double what it was three years ago. Previously set at £2,000,…
HMRC launches VAT registration estimator
HMRC has launched a new digital tool to help businesses estimate the potential impact of their VAT registration. This will be useful for established business owners and those planning to start a business. VAT registration…
Unveiling plans for the Renters’ Rights Bill
While only briefly mentioned in the King’s Speech, the government has now revealed more details of the Renters’ Rights Bill. The Bill will overhaul the private rented sector in England, with some elements also applicable…
Fiscal Drag: Caught in the 60% tax trap?
The number of taxpayers caught in the 60% tax trap has increased by nearly 25% over the past year. More than 500,000 people are now affected by higher tax rates due to their income exceeding…
Opening the books – the government’s spending inheritance…
The date of the next Budget has been announced, accompanied by the new Chancellor’s warning about government finances. Chancellor Rachel Reeves’ first announcement on entering 11 Downing Street was the commissioning of a ‘spending inheritance’…
New tax plans target private schools and social care
In her first detailed tax announcements as Chancellor, Rachel Reeves targeted both those starting off in life and those approaching the end of their lives. School fees From 1 January 2025, private school fees will…
Digital invoicing could prevent invoice fraud
Companies without a digital invoice processing system in place are leaving themselves open to invoice fraud. Over the past year, nearly a third of businesses have been targeted. Fake invoices often appear to be genuine…
Sales suppression one-to-many letter
HMRC has launched a campaign of one-to-many letters given its increasing concern surrounding the electronic suppression of sales (ESS). The campaign targets businesses that might have unpaid taxes due to misuse of their till systems.…