Self-employed people and landlords with an income between £20,000 and £30,000 will be required to use Making Tax Digital (MTD) from 6 April 2028. This will bring a further 900,000 low-income taxpayers under the MTD…
Sick Pay and Small Employers’ Relief
Statutory payments can be problematic to administer for smaller employers, but in a rare instance of generosity HMRC compensates for this. Also, from 6 April 2025, the rate of compensation will almost triple from the…
Side hustles and tax obligations
HMRC has recently launched their Help for Hustles campaign to help people earning extra income to understand their tax obligations. Online platforms, such as eBay, are now required to report users’ income to HMRC. Anyone…
Making Tax Digital Expands
Self-employed people and landlords with an income between £20,000 and £30,000 will be required to use Making Tax Digital (MTD) from 6 April 2028. This will bring a further 900,000 low-income taxpayers under the MTD…
Spring Statement: The Magic of £9.9 billion
There were no tax increases in the Chancellor’s Spring Statement (upgraded from an initial Spring Forecast), but that might just be pain deferred. Before becoming Chancellor, Rachel Reeves set out a new goal for the…
New tax year planning
The start of the new tax year warrants as much planning as the end of the old tax year. While the end of the tax year on 5 April is a major focus of tax…
Another Day, Another Validation Order…………
Another successful validation order obtained for our client. Many thanks to Kartikeya Sharma of 23ES for a brilliant job articulating what was a challenging case! Photo by GR Stocks on Unsplash
Late payment interest warning
A warning for the 1.1 million taxpayers who missed the 31 January filing deadline. It isn’t just penalties you will be incurring for subsequent late payment, but also late payment interest. A record amount of…
Heads Up: New Reporting Requirements for Dividend Data
Starting with the 2025/26 tax year, directors of close companies (owner-managed companies) will need to separate the dividend income received from their companies. This change will have an impact on almost 900,000 directors. In very…
Overseas workday relief set to improve
Employees coming to work in the UK should see an improvement in the new version of overseas workday relief set to be introduced from 6 April 2025. Current system Under the current system of overseas…