Specialist Tax News

14 January 2025

From new year to year end – time to keep a tax-planning resolution?

As 2025 gets under way, it is once again the time of year to start considering your tax year-end planning. The early months of the year

17 December 2024

HMRC scam warning

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

17 December 2024

Payrolling benefits in kind

‘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

17 December 2024

Corporate Tax Roadmap

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

17 December 2024

Get ready for making tax digital for income tax

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

02 December 2024

Farmers campaigning for agricultural property rethink

The announcement in the Autumn Budget about restrictions to inheritance tax (IHT) agricultural and business property relief from April 2026 has upset farming businesses in particular,

02 December 2024

Bring forward succession planning to avoid a big IHT bill

The current tax rules encourage farmers and other business owners to hold on to their business until death, when the assets then pass to the next

02 December 2024

Check your State Pension entitlement

HMRC have developed an app that can help people prepare for their retirement. Individuals can use the app to check their State Pension Forecast, allowing them

02 December 2024

Paying employees early before Christmas

Some employers need to pay their employees earlier than usual in December. This can be for several reasons, such as businesses closing during the festive period

02 December 2024

Remember Christmas gifts of up to £50 per employee are tax free

Employers should note that certain gifts to staff at Christmas are tax free if structured correctly. Employers are allowed to provide their directors and employees with

02 December 2024

Christmas party time!

There continues to be no taxable benefit for employees provided that all staff are invited, and the cost to the employer does not exceed £150 a

02 December 2024

Advisory fuel rate for company cars

The table below sets out the HMRC advisory fuel rates from 1 December 2024. These are the suggested reimbursement rates for employees' private mileage using their