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Spring budget summary 2025
27 Mar 25

2025 Spring Budget Summary

2025 Spring Budget Summary In the 2025 Spring Budget, Chancellor Rachel Reeves unveiled a series of initiatives aimed at strengthening HMRC’s ability to combat tax evasion and avoidance. These measures are designed to enhance compliance, modernize tax administration, and ensure a fairer tax system. Increased Investment in HMRC Compliance The…
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Business Asset Disposal Relief
07 Nov 24

Business Asset Disposal Relief (BADR) – changes ahead

Business Asset Disposal Relief (BADR) – changes ahead It was much speculated before the Autumn Statement that there would be changes to Business Asset Disposal Relief (BADR), and they came. Whilst the threshold of £1m worth of gains will still apply the rate of taxation will be changing. The current…
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labour private schools tax
30 Jul 24

VAT on private school fees

VAT on private school fees One of the most talked about tax topics ahead of the election was Labour’s pledge to introduce VAT to private school fees. The new chancellor Rachel Reeves outlined her plans for Labour’s Private Schools tax along with announcing the date of the upcoming budget on…
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High Earner Tax Returns | Self assessment
14 Jun 24

High Earner Tax Returns | Self Assessment

High Earner Tax Returns | Self Assessment A common question we receive is: Why do I need to file a tax return if all my income is taxed at source? Previous Requirements In past years, individuals with a gross income over £100,000 had to file a tax return, even if…
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person filling out paper tax return form - payments on account
14 Jun 24

Payments on Account: What is it and Why?

Understanding Payments on Account for Tax in 2024 With the tax return season in full swing, many people ask: what are payments on account, and why do I need to make them? Here’s a clear breakdown: What Are Payments on Account? Payments on account are advance payments towards your tax…
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28 Mar 24

The Basis Period Reform

The basis period reform was announced as part of the Autumn Budget in 2021. This change will affect you if you are self-employed, part of a partnership or and LLP that currently don’t prepare their taxes in line with the traditional tax year of April to April. The purpose of…
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12 Mar 24

5th April – So what?

5th April – so what? The 5th April marks the end of the tax year in the UK, but why is that important? The day marks the last day for you to have done anything to affect your tax position for that year, with the next day being the first…
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07 Mar 24

When is a Dividend a Dividend?

When is a dividend a dividend? For lots of SME business owners, dividends will make up a significant part of their total personal income. #Dividends will often be used alongside a salary payment from your company. Dividends offer some tax benefits compared to taking all of your remuneration by way…
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29 Feb 24

Get ready for changes to UK company law

Get ready for changes to UK Company Law. UK Company Law is changing from today, 4th March 2024. We know companies, intermediaries and other stakeholders want to make sure they’re ready for the changes, so that they can take action at the right time. Anyone thinking about incorporating a company…
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