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Fiscal drag bites on earners - May 5, 2023
 | Changes to personal tax allowances and higher interest rates have seen a growing number of people being affected by fiscal drag. Fiscal drag is the phenomenon where taxpayers are pushed into higher tax… |
What is the Residence Nil-Band Rate? And why does it matter to you? - May 5, 2023
 | The Residence Nil Band Rate (RNRB) was introduced by the Government in 2017 and benefits families passing on their main property to a direct descendent. Since its introduction, millions of families around… |
Landlords are latest group targeted by HMRC ‘nudge’ letters - May 5, 2023
 | Residential landlords are the latest group to have been targeted in receiving ‘nudge’ letters from HM Revenue & Customs (HMRC). The letters are part of a targeted ‘nudge’ campaign from HMRC… |
683,000 higher rate taxpayers opt out of child benefit as thresholds remain frozen - May 5, 2023
 | The High Income Child Benefit Charge (HICBC) was introduced in 2013 and was set up to charge tax on individuals claiming child benefits who were earning a yearly income in excess of £50,000. The tax charges… |
Striking the perfect balance: Director’s salary and dividends for 2023/24 - May 5, 2023
 | As a business owner, determining the ideal salary for company directors can be tricky. Often, most directors will want to balance their salary and dividend payments to be as tax efficient as possible…. |
Businesses must get to grips with a Government crackdown on fraud committed by employees - May 5, 2023
 | A new ‘failure to prevent fraud’ offence is being introduced by the Government to encourage businesses to do more to deter offending, which will ultimately protect themselves, consumers, and other… |
Chancellor abolishes Lifetime Allowance pensions shake-up - April 17, 2023
 | The abolition of the pensions Lifetime Allowance, (LTA) which was announced in the Spring Budget, releases people to save as much as they like into their schemes. Chancellor Jeremy Hunt abolished the allowance,… |
How does Full Expensing work? - April 17, 2023
 | Chancellor Jeremy Hunt has announced a partial replacement for the Super Deduction that allows companies to write off 100 per cent of the cost of investment in one go. The Full Expensing scheme was announced… |
Crypto transactions to become part of Self-Assessment under new regulations - April 17, 2023
 | The Government has announced there will be greater scrutiny on the reporting of all crypto transactions, including for cryptocurrencies and non-fungible tokens (NFTs). HM Revenue & Customs (HMRC) will… |
How do changes in Corporation Tax affect my business? - April 17, 2023
 | Changes to the amount of Corporation Tax (CT) businesses pay came into effect on 1 April. From that date, the main rate of CT rose from 19 per cent to 25 per cent for the most profitable companies. Companies… |
Latest News
Latest NewsJun
Donating to charity is its own reward, but if you are a UK taxpayer and you …
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Jun
Inheritance Tax (IHT) is rarely a popular topic, but with the nil rate band …
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