Latest Thinking

As part of the Autumn 2024 Budget measures, the government introduced new anti-avoidance provisions to prevent the abuse of the existing close company anti-avoidance rule. The measure will have effect...

A trust is an obligation that binds a trustee, an individual or a company, to deal with assets such as land, money and shares and which form part of the...

Despite an appeal, the Courts recently found against Bolt in relation to their attempts to evade the statutory entitlements of their drivers to a minimum wage and holiday pay. The...

Determining an acceptable level of pension income for retirement depends on individual circumstances, including lifestyle expectations, health, and financial commitments. However, several guidelines and studies provide benchmarks to assist in...

New proposals to crack down on subscription traps, have been unveiled by the Department for Business and Trade as the government launches a consultation on measures to make it easier...

The current tax benefits for the letting of properties as short-term holiday lets (known as Furnished Holiday Lets – FHL) is to be abolished from April 2025. The changes will...

Capital allowances enable businesses to claim tax relief on certain capital expenditures. Different rules apply to various types of capital expenditure, and the amount you can claim depends on the...

The limit on Income Tax reliefs has applied since 6 April 2013. This measure was the first time a limitation to existing reliefs had been introduced. The cap is set...

If you believe you have overpaid tax to HMRC, you can typically claim a tax refund for the excess amount. The process for making a claim varies depending on factors...

A salary sacrifice arrangement involves an agreement by an employee to lower their cash salary in exchange for non-cash benefits. Importantly, this reduction must not bring their earnings below the...

HMRC has been busy promoting the benefits of using its app. A new advertising campaign launched by HMRC is targeted at 18 to 34 year olds and showcases how the...

The Bank of England’s recent decision to reduce the base rate to 4.75% brings several potential benefits to various sectors of the UK economy. Let’s explore these advantages in detail....

When evaluating the annual running costs of electric vehicles (EVs) compared to diesel cars, several key factors come into play: fuel (or electricity) expenses, maintenance, insurance, taxation, and depreciation. Here’s...

1 December 2024 – Due date for Corporation Tax payable for the year ended 28 February 2024. 19 December 2024 – PAYE and NIC deductions due for month ended 5...

As part of the recent Budget measures, it has been confirmed that the Help to Save scheme is to be extended by a further 2 years, until April 2027. The...

The tax treatment of double cab pick-up vehicles (DCPUs) has been clarified as part of the recent Budget announcements. This follows a chequered history of the tax treatment of DCPUs...

It was announced as part of the Autumn Budget measures that the government will not now proceed with the reform to base the High Income Child Benefit Charge (HICBC) on...

At Autumn Budget 2024, the government confirmed that it will go ahead with a simplification measure first announced in January 2024. This new measure will mandate the reporting of Income...

It was confirmed as part of the Autumn Budget measures that changes announced by the previous government at the Spring Budget earlier this year will proceed almost entirely as initially...

It was announced as part of the Budget measures that the government will reform these reliefs from 6 April 2026. The existing 100% rates of relief will be maintained for...

As part of the October Budget the Chancellor announced the highest ever level of government investment of £20.4 billion in research and development for next year, reinforcing the government’s commitment...

Keeping an eye on competitors offers crucial advantages, especially in a dynamic market. Here’s why it pays off: Improving Market PositioningBy observing competitor pricing, branding, and marketing strategies, you can...

It was announced as part of the Budget measures that the higher rates of Stamp Duty Land Tax (SDLT) on purchases of additional residential properties will increase to 5% (from...

As had been widely predicted, the Chancellor announced increases to the rate of National Insurance contributions (NICs) that are paid by employers. The main rate of secondary Class 1 NICs...

In the Autumn Budget, the Chancellor had been widely expected to increase fuel duty rates. However, in a surprise announcement she extended the fuel duty cut for a further 12...

A number of changes to Inheritance Tax (IHT) were announced as part of the Budget measures. We have covered each of the main measures below. It should be noted that...

In the Budget it was announced that the rates of Capital Gains Tax (CGT) are to be increased with immediate effect. The main rates of CGT that apply to assets...

As part of the Autumn Budget measures the Chancellor announced that the duty rates on tobacco products were increased by 2% above the rate of inflation (based on RPI) effective...

The Chancellor of the Exchequer, Rachel Reeves announced significant increases to the Minimum Wage rates on the eve of the Budget. The Chancellor confirmed that the government has accepted in...

The long awaited, much anticipated and dreaded first Budget of the new Labour government was delivered to Parliament yesterday – 30 October 2024 – by the Chancellor, Rachel Reeves. We...