IHT property valuations are coming under closer scrutiny. HMRC challenged more property valuations over the past year, with the number rising by more than a fifth.
Author: Ammu Accounting
CGT and NIC increases explained
CGT and NIC increases have helped push HMRC tax receipts higher. For 2025/26, the amount of tax collected by HMRC increased by 9.3% compared with the previous year.
Close company reporting for directors
Close company reporting is becoming more detailed. From the 2025/26 tax year, directors of close companies will have to provide more information than before when completing their self-assessment tax returns.
VAT late payment penalties explained
More than 580,000 traders were penalised for late VAT payments last year. That represents around a quarter of VAT-registered businesses. For many firms, VAT late payment penalties are an added pressure at a time when cash flow is already tight.
Inheritance Tax Gift Rules and the Limits of the Exemption
The inheritance tax gift rules can be more generous than many people realise, but they are not always straightforward.
How the Cycle to Work Scheme Still Saves Tax
The cycle to work scheme remains a popular employee benefit, and it is easy to see why. Despite speculation ahead of the November 2025 Budget, no financial cap was introduced on the value of cycles
Business Tax Changes Businesses Should Not Ignore
April brought in several important business tax changes, and some could have a direct impact on how businesses claim reliefs, manage tax filings, and stay compliant.
New Self Assessment Changes for Directors of Close Companies
From the 2025/26 tax year onwards, HMRC is introducing new reporting requirements on Self Assessment tax returns for directors of close companies. These self assessment changes for directors will mean providing more information than in previous years, including details of […]
How to Comply with Making Tax Digital
Many sole traders and landlords are still working out how to comply with Making Tax Digital without taking on more admin than necessary, now that the rules have gone live.
Cryptoasset Reporting Rules and HMRC Disclosure
The new cryptoasset reporting rules are bringing more attention to an area where awareness and compliance still appear to be low. Despite HMRC’s cryptoasset disclosure service running for more than two years, it has generated just over £4 million in disclosures.
Statutory Pay Compensation for Smaller Employers
The increase in statutory pay compensation from 6 April 2026 will be welcome for smaller employers, although it is a modest one. The rate of compensation paid for administering statutory payments will rise from 8.5% to 9%.
State Pension Age Changes and Payroll
The state pension age changes beginning from 6 April 2026 could create practical payroll issues for employers.
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