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The chancellor Rachel Reeves announced as part of the Autumn Budget measures that the Income Tax thresholds will be maintained at their current levels for a further three years until April 2031. This will see the personal tax allowance frozen at £12,570 through to April 2031 across the UK. In addition, the higher rate threshold will
The Chancellor of the Exchequer, Rachel Reeves announced increases to the Minimum Wage rates on the eve of the Budget. The Chancellor confirmed that the government has accepted in full the proposals of the Low Pay Commission (LPC) for increasing minimum wage rates from 1 April 2026.The National Living Wage (NLW) rate will increase from
The Chancellor has kept the main pension allowances unchanged but has confirmed a new cap on salary sacrifice arrangements that will apply from April 2029.
There had been heated speculation that the Chancellor would change the pension rules to help the government raise taxes, but no changes were announced to the annual allowance (which
The Chancellor has confirmed a series of duty increases on tobacco, vaping liquid, and alcohol that will take effect over the next year, with new rates intended to balance public health concerns with support for producers and the wider hospitality sector.
As part of the Autumn Budget measures the Chancellor announced that the duty rates
In the Autumn Budget, the Chancellor had been expected to increase fuel duty rates. However, she has extended the fuel duty cut for a further 6 months to help support households and businesses.
The Chancellor said ‘I know that the cost of travelling to and from work is still too expensive, so I am extending the 5p cut until September
Starting in 2028-29, the government will introduce a High Value Council Tax Surcharge (HVCTS) for residential properties in England valued at £2 million or more. This surcharge will be collected by local authorities, but the revenue will go to central government.
High Value Council Tax Surcharge Charging Structure
Property
The degree of speculation about this year’s Budget announcements was further compounded when the Office of Budgetary Responsibility uploaded their report on Budget changes prior to Rachel Reeves announcements to Parliament.
However, there are to be no changes to the main rates of Income Tax, NIC and VAT that affect wage earners across
Most business owners know that progress matters, but many still hesitate when it comes to planning. It can feel like an extra task or something that only large companies need to worry about. Yet, in practice, steady planning is one of the simplest ways to create real progress in any small or medium sized business. The link between the two
Many business owners focus on sales as the main driver of growth. Sales matter, but they are only part of the story. Real financial growth happens when a business retains profits. Keeping a portion of earnings inside the business, rather than extracting everything each year, creates stability, resilience and long term value. It is one of
Making Tax Digital for Income Tax (MTD for IT) will become mandatory in phases from April 2026. If you are self-employed or a landlord and have over £50,000 in qualifying income you need to start preparing to submit quarterly updates, keeping digital records and cope with a new penalty system.Your qualifying income is the total income you
If you earn fees or sell goods as a side hustle, you may need to pay tax on your profits.
HMRC has launched a new press release encouraging Christmas crafters and anyone with a fee earning hobby to check their tax reporting obligations as part of its Help for Hustles campaign. This is relevant to individuals earning extra income, whether
A demerger involves splitting the trading activities of a single company or group into two or more independent entities. This can be facilitated by distributing the assets of a holding company to its shareholders.
There are special statutory demerger provisions that are designed to make it easier to divide and put into separate corporate
While there are many state benefits available, it is not always clear which of these are taxable and which are tax-free.
HMRC’s guidance outlines the following list of the most common state benefits which are taxable, subject to the usual limits:
Bereavement Allowance (previously Widow’s Pension)
Carer’s Allowance or (in Scotland
Claiming Child Benefit can provide an important benefit by granting National Insurance credits.
If you claim Child Benefit and your child is under 12, you will automatically receive National Insurance credits. This in turn will protect your contribution record during periods of home responsibility.
The child benefit rates for the only
If you use your own money to buy items for work, you may be eligible to claim tax relief as long as the items are essential for your job and are used solely for work purposes.
Flat rate expenses (also known as a flat rate deduction) allows you to claim tax relief for a fixed amount each tax year to cover the costs of work clothing and
The claimant began employment as a Contracts Coordinator on 23 January 2023, subject to a contractual 6-month probationary period, one which required 5 weeks' notice for termination. The contract included a garden leave clause, but no clause permitting Payment in Lieu of Notice (PILON). Disputes soon arose over his work patterns and
The daily charge for driving within the London Congestion Charge zone will rise from £15 to £18 from 2 January 2026. This is the first increase in several years and forms part of Transport for London’s wider plan to manage traffic levels, improve air quality and support sustainable travel across the capital.
Transport for London has said
Many small businesses rely on a mix of overdrafts, card facilities and short term loans to maintain day to day cash flow. During the past year banks and alternative lenders have become more cautious, and several indicators suggest that credit conditions will tighten further during 2026. For business owners, a little early preparation can
The Department for Business & Trade has recently published a report that outlines the government's enforcement of the National Minimum Wage (NMW) and National Living Wage (NLW) for the 2024–25 financial year.The Government is committed to ensuring that all workers receive the minimum wage to which they are entitled, and HMRC enforces
HMRC is currently contacting certain sole traders by email to reiterate the importance of adjusting business expenses for personal use.The email explains:why personal use must be adjusted on your self-assessment tax return; andwhat you need to do if your business expenses cover business and personal use.The email also includes links to
HMRC offers a helpful online tool that allows agents and taxpayers to check when they can expect a response to a query or request that they have made. The online tool is updated weekly with the latest information.The full list of taxes the tool can currently be used for are as follows:Child BenefitCorporation TaxConstruction Industry
The free HMRC tax app now provides quick access to tax codes, income history, self-assessment details, National Insurance records and even payment options, all from your phone.
HMRC’s free tax app is available to download from the App Store for iOS and from the Google Play Store for Android. The latest version of the app includes some
If you are unable to pay your tax bill, it's important to reach out to HMRC as soon as possible.
HMRC may offer a Time to Pay arrangement, allowing you to settle the debt in manageable instalments based on your financial situation.
Taxpayers with liabilities of up to £30,000 can use the online Time to Pay (TTP) service to set up
Many businesses are still unaware that the VAT late filing and late payment rules now operate on a points-based system, where repeated delays can quickly lead to a £200 penalty and added interest.
The VAT late filing penalties regime changed for accounting periods beginning on or after 1 January 2023. Under the new system, there are
Latest News
- Autumn Budget 2025 – Personal Tax changes
27/11/2025 - More...
The chancellor Rachel Reeves announced as part of the Autumn Budget measures that the Income Tax thresholds will be
- Autumn Budget 2025 – Minimum Wage increases
27/11/2025 - More...
The Chancellor of the Exchequer, Rachel Reeves announced increases to the Minimum Wage rates on the eve of the Budget.
- Autumn Budget 2025 – Pension changes
27/11/2025 - More...
The Chancellor has kept the main pension allowances unchanged but has confirmed a new cap on salary sacrifice
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