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How to Verify a QR Code on Letters or Leaflets from HMRC | Do HMRC use QR Codes?

HMRC may include a QR code on letters or leaflets to provide additional information or assistance.  QR codes can be seen on many HMRC communications, including the following  situations:

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What are negligible value claims on Assets? | Negligible value claim conditions

Taxpayers can make a negligible value claim when an asset they own has reduced in value such that it has become of negligible worth. The taxpayer effectively treats the asset as disposed of and immediately reacquired at a negligible value at the time the claim is made. The asset must still be owned by the person making the claim and must have become of negligible value while it was owned. Making a claim allows the asset owner to realise a capital loss on an asset without having to dispose of it.  

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What are the new tax rules for digital platforms? | How much can you sell online before paying tax in the UK?

From 2024, digital platforms must report your information to HMRC if sales exceed 2,000 Euros (Approximately £1,700) or 30 or more instances of sales of goods in a calendar year. Casual sellers are exempt, but regular traders must register for Self-Assessment.  

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Can I claim VAT back on a business car lease? | How does VAT work on Company Cars?

Reclaiming VAT on company cars isn’t as simple as it sounds. Generally, businesses can’t recover VAT on purchase of a car unless the car is used exclusively for business purposes. But there are a small number of excepted cars where the Input VAT can be reclaimed, specifically:  

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What does increasing employer National Insurance mean? | The Likely Effects of Employers’ NIC Increases in 2025

In our last blog on this matter, we discussed the announcement of the changes in NIC Rates for employers coming into place on the 5th of April 2025. Here we are breaking down all the potential effects the changes made by the Chancellor of the Exchequer and the Labour Party might have on your business in the long term.

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Capital Gains tax for investors relief | What is CGT Investors’ Relief?

The rate of Capital Gains Tax (CGT) for Investors’ Relief will rise from 10% to 14% for disposals made on or after 6 April 2025. It will then increase further to 18% for disposals made on or after 6 April 2026.

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When do I need to register for VAT? | How to prepare for registering for VAT HMRC

When approaching the VAT registration threshold there are important matters to consider. The VAT registration threshold is the point at which businesses must register for VAT with HMRC.  

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How does the 7-year Rule inheritance tax work? | How is the 7-Year Rule Calculated?

Inheritance tax (IHT) is a  tax on the estate (the property, money and precessions) of a person who dies. There is normally no inheritance tax to pay due to the current rules. Estates less than the value of £325,000 are not liable to pay any IHT on the transfer of assets on death. This allowance can be increased in certain circumstances. 

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What are the changes to employer National Insurance in 2025? | Employer's National Insurance Increases for 2025

As widely predicted, the Chancellor announced increases to the rate of National Insurance contributions (NICs) paid by employers in the 2024 autumn budget. The primary rate of secondary Class 1 NICs will increase by 1.2% to 15% (from 13.8%) effective 6 April 2025. The Class 1A and Class 1B employer rates will also increase in line with this change.  

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What does the new Autumn budget mean for farmers? | What is the new inheritance tax on farms?

The Autumn Budget 2024 is hugely significant for the agricultural sector. Farmers are often asset rich but cash poor, meaning in the absence of inheritance tax (IHT) reliefs the next generation would have to break up their farm to meet IHT liabilities. This would then threaten a reduction in available land for food production and so ultimately potentially have an impact on food prices. A number of changes in the Autumn budget negatively affect the farming sector.  

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Understanding the Changes to Stamp Duty Land Tax in the Autumn Budget | How will property sales be affected?

As part of the autumn budget measures, it was announced that the higher rates of Stamp Duty Land Tax (SDLT) on purchases of additional residential properties will increase to 5% (from 3%) for transactions effective on or after 31 October 2024.  

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What are the Capital Gains Tax rates in the autumn budget 2024? | Is Business Asset Disposal Relief changing?

The autumn budget announced that the rates of Capital Gains Tax (CGT) are to be increased with immediate effect. The main rates of CGT that apply to assets other than residential property and carried interest will increase from 10% to 18% (for Income Tax basic rate payers) and from 20% to 24% (for Income Tax higher rate payers). The capital gains tax changes are applicable for disposals made on or after 30 October 2024.