Specialist Tax News

Updates are continuing to come through on HMRC’s ‘Making Tax Digital for Income Tax’ (‘MTD for IT’) initiative. It will initially apply from 6 April 2026
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The minimum hourly rates that employers must pay their employees go up from 1 April 2026. Employers must pay their employees at least these minimum rates
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National Insurance Contributions (NICs) NICs deducted from employee wages remain at the same levels as we head into 2026/27. This means that, for employees, no NICs
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As we head into 2026/27, it should be remembered that, for most sales of capital assets, CGT will apply at 18% for basic rate taxpayers and
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IHT can apply to certain lifetime transfers/gifts and also on the value of an individual’s estate at the time of death. The IHT nil rate band
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For 2026/27, the annual investment allowance (AIA) will remain at £1 million and the full expensing regime will be available to companies. The rate of writing
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From 1 April 2026, the VAT registration and deregistration thresholds will remain at £90,000 and £88,000 respectively. There have been no changes to the rates of
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Business rates As announced in the 2024 Budget, two new lower multipliers for eligible retail, hospitality and leisure (RHL) properties with rateable values (RV) below £500,000
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Besides the new property income tax rates detailed in the taxes on income section, another change affecting property is the introduction of a high value council
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England and Northern Ireland If you are planning to purchase residential property, the good news is that there were no changes to stamp duty land tax
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Rates from 1 April 2026 There are no changes to corporation tax rates and thresholds for the financial year commencing 1 April 2026. These include the
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Penalties Late filing penalties for corporation tax returns are set to be doubled for returns where the filing date is on or after 1 April 2026.
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