There is growing speculation that the Chancellor may soon raise the basic rate of Income Tax from 20% to 22%. At the same time, it is thought that a corresponding 2% cut in employee National Insurance contributions could be introduced. Together, these changes would shift how the overall tax burden is shared, particularly between working […]
There is a common hesitation that many business owners and individuals experience when considering professional advice. People often look at the fee first and think of it simply as an expense. However, when advice is viewed only through the lens of cost, the real value can be overlooked. Good advice is an investment. It is […]
And what it may mean for tax planning and business decision making Rachel Reeves’ recent speech has provided a clear indication of the Government’s direction on economic management, taxation, and public investment. While the next Budget will be needed to confirm specific measures, it is already possible to see the themes that are likely to […]
The Winter Fuel Payment is a familiar part of the support many older people receive each year. It is designed to help with heating costs over the colder months and is paid as a tax-free lump sum. However, the rules have changed in recent years, and the payment is no longer a universal benefit. It […]
From 18 November 2025, all company directors and people with significant control (PSCs) will be legally required to verify their identity at Companies House. This verification is being phased in over 12 months and Companies House is contacting companies directly with guidance regarding what needs to be done and by when. These changes are intended to […]
The remittance basis of taxation for non-UK domiciled individuals (non-doms) was replaced with the new Foreign Income and Gains (FIG) regime from April 2025. This new regime is based on tax residence rather than domicile. Under the new rules, nearly all UK-resident individuals must report their foreign income and gains to HMRC, regardless of whether […]
HMRC has issued a press release urging 18-23 year olds who have yet to claim their Child Trust Fund (CTF) cash to do so as soon as possible. According to HMRC, over 758,000 young adults in this age group have unclaimed funds, with the average savings pot estimated to be around £2,240. Anyone who turned […]
As of April 2025, directors of close companies and self-employed taxpayers face new mandatory reporting requirements on their Self-Assessment returns. Up to 900,000 company directors and 1.2 million taxpayers carrying on a trade will be impacted by new rules that require them to provide more information when filing their 2025-26 self-assessment returns. Legislation has been […]
1 November 2025 – Due date for Corporation Tax due for the year ended 31 January 2025. 19 November 2025 – PAYE and NIC deductions due for month ended 5 November 2024. (If you pay your tax electronically the due date is 22 November 2025.) 19 November 2025 – Filing deadline for the CIS300 monthly […]
Many people put off writing a Will. It is easy to understand why. It feels like planning for something that is hopefully far away, and it can feel uncomfortable to think about what will happen after we are no longer here. Yet having a Will in place is one of the most considerate and practical […]