Tax News

The rise of the higher rate taxpayer


The Government continues to freeze both the personal allowance and the higher-rate income tax thresholds – leading to an increase ...

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High-income earners need to re-register for child benefit


Child benefit supports parents or guardians of children under 16, or under 20 if in approved education, by contributing towards ...

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Preparing for the second payment on account – and what happens when you can’t pay?


If you are a Self-Assessment taxpayer, it is almost time to make your second ‘payment on account’ – advance payments ...

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Inheritance Tax collections in the UK Rise to £7.5 billion amid ongoing tax reform debates


Inheritance Tax (IHT) receipts in reached approximately 7.5 billion British pounds in 2023/24, marking a rise from 7.09 billion pounds ...

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HMRC income tax receipts rise by £2 billion


HM Revenue & Customs (HMRC) recently reported a £2 billion increase in income tax receipts, reflecting a strong self-assessment period ...

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New tax year – New tax rules


With the start of the new tax year, taxpayers can expect significant changes that will directly impact their finances in ...

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How does taper relief really work?


Inheritance Tax (IHT) is a tax on the estate (the property, money, and possessions) of someone who has died. While ...

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What are the implications of MTD for ITSA for SMEs?


The introduction of Making Tax Digital for Income Tax Self-Assessment (MTD for ITSA) is going to create some upheaval within ...

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Run your business from home? Get to know your VAT entitlement


If you are a business owner and work or run your business from home, then you may be entitled to ...

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