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HMRC Updates HICBC Reporting for 2025
From this summer, employed taxpayers who have to pay the high income child benefit charge (HICBC) will no longer need to complete a self assessment tax return.
VAT Late Payment Penalties Rise Sharply
It is now more expensive to be late when it comes to making a VAT payment. The slowest payers now face a 250% increase to an annualised rate.
New CGT Rates and Triggers Explained
With basic rate taxpayers now facing doubling capital gains tax (CGT) rates, and with the exempt amount a quarter of its previous level, it is no surprise that considerably more CGT is being paid to HMRC.
Spring Statement: Tax Rises Still on the Horizon
There were no tax increases in the Chancellor’s Spring Statement (upgraded from an initial Spring Forecast), but that might just be pain deferred.
More Taxpayers Join MTD by April 2028
Self-employed people and landlords with an income between £20,000 and £30,000 will be required to use Making Tax Digital (MTD) from 6 April 2028.
Spring Statement 2025 – Ammu’s Commentary
Rachel Reeves’ Spring Statement brings few surprises but confirms that key tax and compliance changes are going ahead as planned. Key points for you as a business owner: Helpful Articles for MTD and Payroll Updates Making Tax Digital: Key Changes […]
Making Tax Digital: Key Changes from April 2026
From April 2026, HMRC is rolling out Making Tax Digital (MTD) for Income Tax, which will impact many self-employed individuals and landlords. If you earn over £50,000 from employment or property, you’ll likely be affected—so it’s time to start preparing. […]
Year-End Tax Checklist: What to Do Before the 6 April Deadline
As the tax year-end approaches, now’s the time to take action and make the most of valuable allowances and planning opportunities. Here are 15 practical steps to consider before 6 April 2025
Changes to NIC Rates & Thresholds: What This Means for Your Business
Following the Autumn Budget in 2024, the new National Insurance (NI) changes are coming into effect from 6 April 2025. It’s important to understand how these adjustments will impact your business. Whether you’re a sole director of a limited company […]
New Tax Year Planning: Maximize Your 2025/26 Allowances
The start of the new tax year warrants as much planning as the end of the old tax year.
Small Employers’ Relief: Statutory Pay Boost in 2025
Statutory payments can be problematic to administer for smaller employers, but in a rare instance of generosity HMRC compensates for this.
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