Latest Thinking

Automatic enrolment for workplace pensions has helped many employees make provision for their retirement, with employers and government also contributing to make a larger pension pot. The law states that...

The letters in your tax code signify your entitlement (or not) to the annual tax free personal allowance. The tax codes are updated periodically and help employer’s work out how...

All businesses can now move their export declarations to the Customs Declaration Service (CDS), HMRC has confirmed. Businesses who have yet to move their export declarations to CDS will have...

From the start of April 2024, the government will increase the amount of funding that employers who are paying the apprenticeship levy can pass onto other businesses. Apprenticeships can currently...

There is still time to register for the marriage allowance before the current tax year ends on 5 April 2024. The marriage allowance applies to married couples and those in...

1 April 2024 – Due date for corporation tax due for the year ended 30 June 2023. 19 April 2024 – PAYE and NIC deductions due for month ended 5...

The replacement of domestic items relief enables landlords to claim tax relief when they replace movable furniture, furnishings, household appliances and kitchenware in a rental property. The allowance is available...

There are special rules which limit the ability to change your company’s accounting year end date. A company’s year end date is also known as its ‘accounting reference date’ and...

As well as filing accounts with Companies House, there is an important requirement to check that the information Companies House has about your company is correct every year. This is...

Leaders from top comparison sites, RAC and The AA will be among those meeting the Energy Affordability Minister to help share new fuel price data and keep costs down for...

In a recent announcement by the Treasury, it was announced that plans are afoot to deliver up to £1.8bn of productivity benefits by 2029. The aim is to improve public...

The taxable turnover threshold that determines whether businesses should be registered for VAT will increase from £85,000 to £90,000 from 1 April 2024. The taxable turnover threshold that determines whether...

In a move that may partly have been prompted by seeking to mirror a longstanding policy of the Labour party, the Chancellor has announced that the generous non-dom rules are...

As part of the Spring Budget measures, the Chancellor announced that the duty rates on beer, cider, wine and spirits would be frozen at the current rates from 1 August...

As had been widely expected, the Chancellor announced further changes to National Insurance contributions (NIC) rates for employees and the self-employed. There will be a further 2% cut in the...

In the Spring Budget, the Chancellor extended the fuel duty cut for a further 12 months to help support households and businesses at a time of high oil prices. The...

The High Income Child Benefit Charge (HICBC) came into force January 2013 and has applied to taxpayers whose income exceeds £50,000 in a tax year and who are in receipt...

A higher rate of Capital Gains Tax (CGT) applies to gains on the disposal of residential property if the gain falls into the higher rate band. In the Spring Budget,...

As expected, the Chancellor has found wriggle room in his fiscal rules that have allowed him to please his fellow Conservatives by reducing the impact of taxation. Not an unfamiliar...

The first measures under the Economic Crime and Corporate Transparency Act 2023 (ECCT Act) came into force on Monday 4 March 2024. Changes introduced include: greater powers to query information...

The Chancellor announced pension fund reforms as a further step in the government’s plan to boost British business and increase returns for savers. This includes requirements for Defined Contribution (DC)...

The Construction Industry Scheme (CIS) is a set of special rules for tax and National Insurance for those working in the construction industry. Businesses in the construction industry are known...

If a company has stopped trading and has no other income, then the company is usually classed as dormant for Corporation Tax purposes. A company is usually dormant for Corporation...

It is not unusual for taxpayers to find themselves in a position where they disagree with a tax decision issued by HMRC. There are a number of different options open...

HMRC have reversed a previous decision (originally published 12 February 2024) on the tax status of Double Cab Pick Ups (DCPUs), following an earlier 2020 Court of Appeal judgment. The...

Companies House has announced that some of their fees will be changing from 1 May 2024. The last change in fees was April 2016. The fees have been calculated on...

The Government has announced action to tackle the use of controversial ‘fire and rehire’ practices. In a press release issued 19 February 2024 they said: “Action against unscrupulous employers to...

An experienced entrepreneur has taken up a key role to promote the needs of small businesses to government and ensure suppliers seize the benefits of the Procurement Act. Shirley Cooper...

In general, there is no Capital Gains Tax (CGT) on a property which has been used as the family’s main residence. This relief from CGT is commonly known as Private...

Self-employed taxpayers should notify HMRC as soon as practicable when they begin working for themselves. HMRC must be officially notified by 5 October following the end of the tax year...