HMRC figures for 2023/24 show cash ISA subscriptions have increased by almost 224% more than stocks and shares ISAs by the end of the decade. The Chancellor’s plan to reform individual savings accounts (ISAs) to…
Let Property Campaign nudges up revenues
HMRC’s Let Property Campaign has been running for over twelve years. In 2024/25, it pulled in a record £107 million from landlords – more than a 60% increase on the previous year. The number of…
Cryptocurrency conundrums
A Bank of England proposal to cap stablecoin holdings at a maximum of £10,000 or £20,000 for individuals has received fierce criticism; however, there are signs the Bank is softening its stance. A stablecoin is…
VAT return errors get an update
HMRC have withdrawn form VAT652. Companies with large VAT return errors must now submit corrections online or in writing. Larger VAT return errors are entered as method 2 type corrections, whereas method 1 is used…
Companies House identity verification begins rollout
Companies House identity verification starts on 18 November 2025. For individual directors, the date will vary when they will need to confirm they have verified their identity, depending on when their company’s next confirmation statement…
The stamp duty tangle – a useful lesson
The former Deputy Prime Minister Angela Rayner’s recent problems with stamp duty land tax (SDLT) offer a salutary lesson. In early September, the Deputy Prime Minister (and Housing Secretary) resigned after discovering that she had…
Electric car charging rates change – home and away
Starting 1 September 2025, two separate advisory fuel rates apply to fully electric cars depending on whether charging is at home or using a public charger. HMRC’s advisory fuel rates can be used to reimburse…
Business Asset Disposal Relief on Selling your business
An important consideration when selling your business is whether business asset disposal relief (BADR) will be available to minimise the capital gains tax (CGT) cost. BADR will be less advantageous from April 2026, so company…
Miscalculated corporation tax reliefs targeted by HMRC
Companies that may have miscalculated their corporation tax marginal relief may receive a letter from HMRC as part of a new campaign. The targeted errors could be due to ignoring associated companies. Associated companies Directors…
Changes made to pension relief claims
HMRC has tightened checks on pension relief after finding that a third of claims made by PAYE tax codes were incorrect. The problem Contributions into a personal pension are made net of basic rate tax,…