With the 31 January self assessment deadline fast approaching, HMRC has warned taxpayers to be alert to fraudsters. In the past year, there has been a 16.7% increase in scam referrals to HMRC, with almost 150,000 received in the year to November 2024. A significant proportion of those referrals were fake tax rebate claims. HMRC […]
‘Payrolling benefits in kind’ means that employee benefits in kind (e.g. company cars and medical insurance) are reported to HMRC through the employer’s payroll. Employees’ tax codes are amended so that any income tax due on the benefits is paid throughout the tax year. If a benefit has been payrolled, it does not need to […]
The Government published a ‘Corporate Tax Roadmap’ as part of Autumn Budget 2024. The Roadmap is designed to give corporate businesses (and, in some areas, non-corporate businesses) certainty about the tax framework ahead to give confidence in business decisions being made now. The Roadmap sets out the areas in which the Government intends to maintain […]
Prior to the Autumn Budget, there was hope that the new Labour Government might further delay the introduction of Making Tax Digital for Income Tax (MTD for IT). However, such hopes were dashed on Budget day, with confirmation of the previously-announced timescales and an additional announcement that individuals with income from trading or property of […]
Surrey-based accountancy firm TWP has urged business owners looking to sell their business to act quickly ahead of the changes announced by Rachel Reeves. In October it was revealed that the rates for Business Asset Disposal Relief (BADR) will gradually increase, reaching 14 per cent in April 2025 and matching the main lower Capital Gains […]
The 2024 Autumn Budget announcements made by the Government have caused many to rethink their pension strategy and whether these are still a relevant and useful long-term investment. You may be wondering, for example, whether contributing to a pension (either through work or privately) is the most tax-efficient strategy considering the alternatives – like stocks, […]
Christmas is a busy time, but the start of a new year is always a good opportunity to take a closer look at your investment portfolio and prepare for the year ahead. The markets have been moving fast this year, and we think they will continue to see interesting trends in the next 12 months […]
Retirement is a goal that is achievable for almost everyone, but not without a comprehensive plan and financial strategy. Without one, you could find that you run out of funds to support your lifestyle in later years when the prospect of returning to work is a lot less appealing. We always suggest that you start […]
With Christmas right around the corner, many of you might be looking into ways to spread the holiday cheer among your employees. Maybe you want to give a box of chocolates to your executive assistant or a bottle of wine to your line managers – small gestures that brighten up the workplace. Unfortunately, it is […]
If you are a sole trader or small business owner using a double cab pickup (DCPU) for your work, now is the time to consider your options. The Budget revealed a tax change for DCPUs that could have significant financial implications for both you and your business. Whether you are looking to expand your fleet […]
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