Missed the 31st January tax deadline? Here is our 5 point guide on how you can minimise your personal tax penalties. Recap:Personal tax penalties are charged for both late filing of the tax return and for late payment of any […]
The deadline for filing your 2023/24 tax return was 31st January 2025, but if you missed it, you’re not alone—around 1.1 million taxpayers have also failed to file on time this year. Unfortunately, missing the deadline comes at a cost.
Late Tax Return? Follow These 4 Steps to Avoid Bigger Penalties Read More »
Are you planning a Staff Christmas Party? Here are the rules you must follow to ensure that the costs are tax deductible. As Christmas Party Season is now approaching, what constitutes as a Staff Christmas Party? More importantly, we will
On Wednesday 30th October 2024, Chancellor Rachel Reeves unveiled her “Halloween Budget”, marking Labour’s first budget in over 14 years. True to predictions, this budget includes significant tax increases aimed at raising over £40 billion to fuel economic growth. In
In the recent UK Halloween Budget, significant increases to Employer’s National Insurance (NI) contributions were announced, impacting businesses of all sizes. From April 2025, the employer’s National Insurance rate will increase from 13.8% to 15.0%, and the contribution threshold will
Impact of the Employers National Insurance Increase: What Businesses Need to Know? Read More »
Get Ready for Your Paper Tax Return: Key Deadlines and Tips The deadline for submitting your self-assessment tax return for 2023/24 on paper is approaching fast. Here’s what you need to know to avoid fines and get your taxes filed
If you own a furnished holiday let, important tax changes are on the horizon. Currently, furnished holiday lets qualify for Business Asset Disposal Relief (BADR), allowing property owners to benefit from lower Capital Gains Tax when selling. However, this beneficial
If you claimed Child Benefit before May 2000, you may be missing out on your full State Pension entitlement. Prior to that date, there was no requirement to provide a National Insurance number when applying for Child Benefit. Unfortunately, this
Child Benefit Claimants Missing Out on Full State Pension Entitlement Read More »
Pension tax changes are predicted to be a part of the forthcoming budget next month. We go through each of the potential changes to pension taxes and the likelihood of them being implemented. The main areas of pension taxes that
Potential Pension Tax Changes: Predictions & Actions to Take Read More »
On Wednesday 6th March 2024, the Chancellor, Jeremy Hunt announced his Spring Budget to update the country on the fiscal plans ahead. With an upcoming general election later this year, tax cuts were anticipated. As with every budget there are
Spring Budget 2024 – How it affects you and your business? Read More »