HMRC has recently launched their Help for Hustles campaign to help people earning extra income to understand their tax obligations.
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Late Tax Payment Warning: Interest Rates Rising in 2025
A warning for the 1.1 million taxpayers who missed the 31 January filing deadline. It isn’t just penalties you will be incurring for subsequent late payment, but also late payment interest.
New Dividend Reporting Rules for Directors in 2025
Starting with the 2025/26 tax year, directors of close companies (owner-managed companies) will need to separate the dividend income received from their companies.
MTD 2025: Key Updates on Three-Line Accounts & Income
A busy start for HMRC on Making Tax Digital (MTD) for 2025 with focus falling on new guidance for three-line accounts and joint property income.
UK Overseas Workday Relief: Key Changes from April 2025
Employees coming to work in the UK should see an improvement in the new version of overseas workday relief set to be introduced from 6 April 2025.
Spring Forecast 2025: What to Expect on 26 March
Cast your mind back six Chancellors ago to Philip Hammond (aka Spreadsheet Phil). In autumn 2016, Hammond announced a change to the timings of Budget announcements, with a Spring Budget and Autumn Pre-Budget Report (PBR) to be replaced by an Autumn Budget and a Spring Statement.
Late Tax Return Penalties: No Excuse for Missing Deadlines
In a recent case heard by the First Tier Tribunal (FTT), a taxpayer lived overseas, encountered postal delays and had limited internet access, but these did not constitute reasonable excuses for the late submission of a self-assessment tax return.
The Key to Thriving in 2025?
The Autumn Budget led to big changes that businesses can’t afford to ignore. Rising National Insurance contributions, higher wage costs, and shifts in tax policies are reshaping the financial landscape. For businesses, staying ahead means having clear, real-time financial insights […]
Start 2025 Right: Year-End Tax Planning Tips to Know
As 2025 gets under way, it is once again the time of year to start considering your tax year-end planning.
Making Tax Digital Expanded: Key Dates and Updates to Know
Although Making Tax Digital (MTD) for the self-employed and landlords is still more than a year away, the October 2024 Budget further extended its scope
Lost pensions worth billions unclaimed
Over the past six years, the number of lost pension pots has doubled to around 3.3 million. The total value of missing funds now sits at almost £31 billion. A pension pot is considered to be lost when the pension […]
Employment Rights Bill: Key Changes Employers Must Prepare For
The Employment Rights Bill working its way through parliament will have serious implications for employers once finally enacted.