The commencement of Making Tax Digital (MTD) for income tax is now live! This is the new 2026/27 tax year regime for self-employed individuals and landlords if they have business and/or property income (i.e. total takings, not net profits) of more than £50,000 per annum. MTD requires digital record-keeping and quarterly updates to HMRC, with […]
It can be hard to keep track of tax changes, with the start of a new tax year often bringing new rates, allowances and other legislative changes. To make things easier, here is a list of the key tax changes that will take effect from April 2026. Income tax In 2026/27 income tax rates, thresholds […]
New consultation on reporting company payments to participators Returning to corporation tax, a new consultation, ‘Reporting company payments to participators’ has been published, inviting views on proposals to introduce new requirements to report transactions between close companies and their participators to HMRC. The government believes that the risk of error and tax evasion is greatest in close companies, where the legal distinction between the […]
In a recent VAT case (Charge My Street Ltd v HMRC [2026] TC09802), the First Tier Tribunal found that electric vehicle charging supplied at public charging stations qualified for a 5% reduced rate VAT charge. This ruling contradicts HMRC’s long-held policy that electric vehicle charging at public charging stations is subject to a standard 20% […]
Date What’s Due 1 April Corporation Tax for year to 30/06/2025, unless quarterly instalments apply 1 April National Minimum Wage rate increases take effect. 5 April End of the 2025/26 tax year – many tax planning actions need to have been taken by this date, including making use of 2025/26 allowances). 6 April Start of […]
Whilst the issues in the Middle East may appear thousands of miles away, we know that it will have a ripple effect across our clients’ businesses, some more than others. If this disruption continues, clients who were impacted by the Russia energy shock, may find this much worse. We wanted to share some thoughts about […]
As a new tax year dawns on 6 April, the time has come to once again take a look at your ISA. The savings limit resets at the start of every new tax year and it remains best practice to invest as much as you can. However, this is the last tax year to maintain […]
Saving rates, the amount of interest paid back to you by your bank or building society, are a vital consideration when trying to grow a nest egg. Changes in inflation can impact saving rates and could see the growth of your nest egg stall. Given that the Government are committed to bringing down inflation, it […]
UK gilts are bonds issued by the UK Government so that it can borrow money. If you are looking to diversify your wealth plan, it is worth considering the value of UK gilts and whether they are right for you. What are the benefits of investing in UK gilts? UK gilts are widely considered one […]
With just a few weeks before Making Tax Digital (MTD) for Income Tax comes into effect on 6 April, the countdown is on. HMRC has been sending letters to thousands of sole traders, landlords and self-employed individuals, warning them their reporting obligations are about to change. Whether you have received your letter or not, you […]
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