News & Articles
New tax rules for double cab pick-ups
Under tax reforms effective April 2025, double cab pick-up vehicles (DCPUs) with a payload capacity of one tonne or more will be treated as cars for tax purposes. This reclassification impacts corporation tax (from 1 April) and income tax (from 6 April)...
Autumn 2024 Budget speech: History in the making?
Yesterday, Rachel Reeves delivered her first Budget speech. As the first Budget speech ever delivered by a female Chancellor of the Exchequer, the occasion was bound to be one for the history books regardless of what was said...
Check your National Insurance record: Can you claim your full State Pension?
HM Revenue and Customs (HMRC) has recently reminded people to check and make sure they are not missing out on valuable State Pension entitlements due to gaps in their National Insurance (NI) record. The issue mainly affects parents, particularly women, who claimed Child Benefit before 2000...
Should you pass on wealth now to avoid inheritance tax?
Many individuals are apparently passing on substantial amounts of their wealth in anticipation of possible changes to inheritance tax (IHT) in Labour’s first Budget on 30 October...
Highlights from the King's speech: What impact may they have on your business?
Last week King Charles delivered the King’s Speech. This is a speech traditionally delivered at the State Opening of Parliament and it sets out the government’s plans and priorities for the coming year...
Reminder: P11D form submission deadline rapidly approaching
The deadline – 6 July – for reporting expenses and benefits to HM Revenue & Customs (HMRC) is rapidly approaching. It's important for all employers to understand their responsibilities regarding this crucial tax form...
Are you an early bird?
HM Revenue & Customs (HMRC) have released figures showing that 295,250 Self Assessment tax returns were filed in the first week of the new tax year. Almost 70,000 were filed on the first day – April 6th. This seems to suggest an increasing trend for filing tax returns early...
Have you checked your tax code?
Prior to the tax year starting each 6 April, HM Revenue and Customs (HMRC), will issue new tax codes to employees, usually where there is a change of tax code...
Shareholder Agreements for limited companies: What you need to know
When there are several shareholders, a new company is being formed, a shareholder wants to pass their shares or pass them to their children, someone is nearing retirement, or the company has borrowed money from a shareholder, issues can easily arise that jeopardise the continued success of a busines..
Year End Tax Planning
It’s not too late to undertake some end of year tax planning. If you have some spare cash, an obvious tax planning point would be to maximise your ISA allowances for the 2023/24 tax year (currently £20,000 each)...
