A busy start for HMRC on Making Tax Digital (MTD) for 2025 with focus falling on new guidance for three-line accounts and joint property income. Self-employed individuals and landlords with an annual income of more…
Property purchasing could get costlier……………
Although a late reprieve cannot be completely ruled out, the stamp duty cost of purchasing a property in England and Northern Ireland is set to go up from 1 April 2025. Stamp duty costs have…
What to expect from the Spring Forecast on 26 March
The Chancellor has announced the timing of her next formal report to Parliament. Cast your mind back six Chancellors ago to Philip Hammond (aka Spreadsheet Phil). In autumn 2016, Hammond announced a change to the…
A cautionary tale – no excuse for late tax return
In a recent case heard by the First Tier Tribunal (FTT), a taxpayer lived overseas, encountered postal delays and had limited internet access, but these did not constitute reasonable excuses for the late submission of…
Making Tax Digital latest
Although Making Tax Digital (MTD) for the self-employed and landlords is still more than a year away, the October 2024 Budget further extended its scope with the announcement that it will apply to those with…
Lost pensions worth billions unclaimed
Over the past six years, the number of lost pension pots has doubled to around 3.3 million. The total value of missing funds now sits at almost £31 billion. A pension pot is considered to…
Employment rights changes on the horizon
The Employment Rights Bill working its way through parliament will have serious implications for employers once finally enacted. Along with the loss of options for offering more flexible working arrangements, the changes are likely to…
Stamp duty hit for landlords
UK landlords are facing increased rates of surcharge when purchasing buy-to-let property following increases over the past three months. The rate is now particularly punitive for those buying property in Scotland. Stamp duty was devolved…
From new year to year end – time to keep a tax-planning resolution?
As 2025 gets under way, it is once again the time of year to start considering your tax year-end planning. The early months of the year are the time to undertake year-end tax planning. Unsurprisingly,…
The consequences of higher employer’s national insurance contributions
The impact of the Budget’s increases in national insurance contributions (NICs) are not limited to employers. There were three main changes to employer’s NICs announced in the Budget, all of which will take effect from…