Tax News

Classic cars, jewellery and handbags – How high luxury is accounted for in Inheritance Tax


Inheritance Tax (IHT) is paid on all items of your estate after you pass away if you exceed certain thresholds. ...

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Government summer savings spree adds complexity to VAT for hospitality and tourism


When Rachel Reeves announced a temporary cut in VAT from 20 per cent to five per cent for family attractions ...

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Salary sacrifice cap and the squeezed middle


The £2,000 cap on National Insurance (NI) free salary sacrifice pension contributions was sold as a tax on high earners ...

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The hidden savings tax trap and why changes to ISAs make it harder to put money away


Do you know what your Personal Savings Allowance is? While most taxpayers in the UK will know the thresholds for ...

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Secured the raise – Keeping an eye on your eligibility for the High-Income Child Benefit Charge


If you have been one of the lucky ones to secure a pay rise this year, be mindful that the ...

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What you need to know about your first quarterly MTD report on 7 August 2026


For sole traders, self-employed individuals and landlords with gross incomes exceeding £50,000 from self-employment or property, you are now mandated ...

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Up to two fifths of employers may withdraw salary sacrifice pensions


Employers are facing growing uncertainty over the future of salary sacrifice pension schemes following the Government’s decision to introduce a ...

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Close companies face additional reporting requirements


Further administrative changes are on the cards for close companies, as the Government seeks to gain a better understanding of ...

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Making Tax Digital for Income Tax is now live – What next?


For landlords and sole traders bringing in qualifying annual income over £50,000 (not including profit or dividends), Making Tax Digital ...

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