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Spring Statement Announced: More Tax Changes to Come?
The debates and arguments over the merits or otherwise of some of the tax changes from the Budget have barely settled down, even two months
Stamp Duty Tax Receipt Trends Revealed in New Reports
Among the changes we saw at Budget 2024 related to Stamp Duty – the tax you pay when you buy a new property. And a
Statutory Paternity Leave and Pay Changes in 2024
These affect us personally and professionally and if you have policies and procedures regarding Statutory Paternity Leave (SPL) and Pay (SPP), be aware of changes
Surge in Cash ISA Deposits
Savers rushed to deposit money into cash ISAs in October, driven by speculation that the annual allowance might be cut. £4.2 bn was added in
Tax Break Scheme for Second Homeowners Axed
The furnished holiday lettings tax regime is on the verge of being abolished. Reforms were announced under the previous Conservative Government in Spring 2024 and
Tax Changes Expected as Pressure Grows on Public Finances
A Government surplus would normally be seen as good news. But despite reaching £15.4bn in January – a record high for the month – it’s
Tax Changes to Progress to Law in the New Year
The 2024-25 Finance Bill is on course to complete in the new year. This will enact the many tax measures announced in the Autumn Budget
Tax Commitment Finally Set to Change After 25 years
A 25-year UK tax commitment related to Income Tax is set to be axed from next month. As the new tax year begins on 6
Tax on Rental Income for Jointly Owned Property: What to Know
Q.4 Jointly owned property and rental income – Anything tax-wise that we should know? I am a pensioner receiving a state pension and a private
Tax Penalty Fears for Pensioners as Millions ‘Dragged into Net’
Baroness Ros Altmann, a leading campaigner on pensions, has highlighted her fears after figures showing that the number of pensioners liable for tax have doubled
Tax Raid Pulls in £300 Million Less than Predicted
Chancellor Rachel Reeves’s £25 billion National Insurance hike brought in £300 million less than expected in its first two months. PAYE income tax and employer
Taxman Collects More than £400m in Interest Charges
The amount the tax man collects from interest charges has grabbed some media attention in recent weeks, as new data was published. Following a Freedom
The Government Refuses to Increase the Annual Personal Allowance to £20,000
Parliament debated a petition calling for the income tax threshold to be raised from £12,570 to £20,000 to allow people to keep more of their
Treasury Coffers Swell from IHT Bills – Even Before Imminent Reforms Set In
Reforms to Inheritance Tax were arguably among the most contentious measures that Rachel Reeves announced during her Autumn Budget. We’ve seen farmers staging significant protests
Treasury Collects £10bn Extra in Business Taxes
It has been revealed that companies across the UK have paid £95.2 billion in Business taxes in the financial year just finished (23/24) – a
VAT Margin Scheme for Car Dealers
Brexit has introduced a VAT border between Great Britain and Northern Ireland, the implications of which are still being worked through. From 1 May 2023,
Voluntary NIC Payment Deadline Extended Again
In April 2023, we gave you the good news that the government had extended the deadline for paying voluntary National Insurance contributions (NIC) to fill
Watch Out for Data Thieves’ Latest Scam
Scammers are targeting people’s online tax accounts and attempting to steal sensitive personal data, HMRC officials have warned. It’s been reported by the Institute of
Welcome IZENR (aka National Insurance Relief in Investment Zones)
An initialism that will soon fall smoothly from our tongues is IZENR, HMRC’s description of Investment Zone Employer NICs Relief. This applies in payroll systems from
What Are the Tax Implications of Removing My Name from Property Deeds?
In 2010, I took out a mortgage to buy my daughter a property in Birmingham for her to live in. Both of our names are