The mandatory rollout of Making Tax Digital (MTD) for Income Tax is set to begin in April 2026. MTD for ITSA will bring substantial changes to how businesses, self-employed
Securing funding for a new startup is one of the most critical steps in ensuring the success of a business venture. However, obtaining financing can often be challenging. For
The 18% and 28% Capital Gains Tax (CGT) rates currently applied to carried interest gains remain unchanged for the current tax year. This charge applies to individuals who provide
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
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 trust. The person who
The vehicle benefit charges for 2024-25 were announced at Autumn Budget 2024. The government will introduce legislation by statutory instrument in December 2024 to ensure 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
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
Determining an acceptable level of pension income for retirement depends on individual circumstances, including lifestyle expectations, health, and financial commitments. However,
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 take
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
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
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 app can help them
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 such as whether
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 at the greater
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
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,
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 December 2024. (If you