Tax News

The ins and outs of pre-notification of R&D claims


The UK Government has long encouraged businesses to invest in Research & Development (R&D) projects, believing it to be at ...

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HMRC claws back £700million in IHT after families fail to understand gifting rules


In the last five years, HM Revenue & Customs (HMRC) has retrieved more than £700 million in Inheritance Tax (IHT) ...

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P11D – Are you ready to report and pay tax on Benefits in Kind?


Benefits in Kind (BIK) cover a number of different perks or additional payments made by employers to their employees. They ...

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Fiscal drag bites on earners


Changes to personal tax allowances and higher interest rates have seen a growing number of people being affected by fiscal ...

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What is the Residence Nil-Band Rate? And why does it matter to you?


The Residence Nil Band Rate (RNRB) was introduced by the Government in 2017 and benefits families passing on their main ...

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Landlords are latest group targeted by HMRC ‘nudge’ letters


Residential landlords are the latest group to have been targeted in receiving ‘nudge’ letters from HM Revenue & Customs (HMRC). ...

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683,000 higher rate taxpayers opt out of child benefit as thresholds remain frozen


The High Income Child Benefit Charge (HICBC) was introduced in 2013 and was set up to charge tax on individuals ...

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Striking the perfect balance: Director’s salary and dividends for 2023/24


As a business owner, determining the ideal salary for company directors can be tricky. Often, most directors will want to ...

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Chancellor abolishes Lifetime Allowance pensions shake-up


The abolition of the pensions Lifetime Allowance, (LTA) which was announced in the Spring Budget, releases people to save as ...

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