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.
Category: Tax Planning
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.
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
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.
Key UK Financial Dates to Be Aware of in 2026
The Dates to Put in Your Financial Diary Now! As we move through 2026, a number of important financial changes and deadlines will affect individuals, landlords and business owners alike. By knowing what’s coming up and when, you can plan […]
making tax digital exemptions
From April, Making Tax Digital (MTD) for Income Tax applies to sole traders and landlords with income above £50,000. Some people may qualify for Making Tax Digital exemptions depending on their circumstances. You can now apply to HMRC if you […]
HMRC rental income declaration campaign brings record revenues
HMRC’s Let Property Campaign continues to pay dividends. In 2024/25 alone, it generated a record £107 million in previously unpaid tax from landlords, an increase of over 60% compared to the prior year.
Stamp Duty on Second Home: A Cautionary Tale from Westminster
The recent resignation of former Deputy Prime Minister Angela Rayner over unpaid stamp duty has put the spotlight back on a complex area of tax law.
state pension age under review
State Pension Age Is Under Review Again Just before Parliament’s summer recess, the government quietly announced a new review of the State Pension Age (SPA). This decision could shape long-term retirement plans and significantly impact UK public finances. Why the […]
HMRC targets miscalculated corporation tax reliefs
Have You Received a Letter from HMRC About Corporation Tax Relief? HMRC is writing to companies it believes may have miscalculated their corporation tax relief under the marginal relief rules. These letters are part of a wider campaign to identify […]
new rules for claiming pension tax relief
HMRC Tightens Pension Tax Relief: What You Need to Know From 1 September, HMRC has introduced stricter rules for claiming pension tax relief. The changes are aimed at reducing incorrect claims, many of which came from basic rate taxpayers. If […]
HMRC is going digital: what taxpayers need to know
It is now clear, HMRC is going digital, and the way you manage your taxes is about to change. While plans to extend Making Tax Digital (MTD) to corporation tax have been dropped, the latest transformation roadmap confirms a wave […]
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