HMRC’s newly launched online service means that taxpayers can pay a high income child benefit charge (HICBC) in real time. It should reduce the number of individuals who have to register for self assessment only…
One Week On: The Autumn 2025 Budget – A Balancing Act?
This year’s Budget risked becoming the winter budget, arriving as late as possible on 26 November after a long, rumour-filled run in. The Chancellor’s first Budget last autumn, on 30 October 2024, came following the…
Making Tax Digital – Exemptions
In less than six months, Making Tax Digital (MTD) will become mandatory for sole traders and landlords with an annual income of more than £50,000. However, some may be able to avoid the requirements. HMRC…
Time to Talk About Director Loan Accounts
Used wisely, a company loan can be an attractive option for directors who need to access company funds, especially if the need is urgent. However, there can also be serious tax implications for the unwary.…
Untangling red tape on company reporting
Government plans on company reporting appear somewhat contradictory. Some regulations are set to tighten from April 2027, but latest announcements suggest a move in the opposite direction. The current intention is that from 1 April…
Cash ISAs twice as popular as stocks and shares ISAs
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HMRC have withdrawn form VAT652.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…