Tax-efficient gift-giving is an essential aspect of estate planning that can significantly reduce your inheritance tax (IHT) liabilities while benefiting your loved ones. By carefully planning and utilising the available allowances and exemptions, you
Research and development (R&D) tax credits are a crucial incentive designed to encourage businesses to innovate and invest in new technologies, processes and products. Yet, despite their significance, many businesses
The latest annual update to Student Loan interest rates was made last week by the Department for Education.
The first of the 2024 Sustainable Farming Incentive agreements for 2024 are now live. A tool is available that can help you find out about grants and funding that
Last week, the Rural Payments Agency (RPA) announced that 98% of eligible farmers have now received their first instalment of the new delinked payments.
The Bank of England’s decision to reduce the base rate to 5% means that HM Revenue & Customs (HMRC) will also reduce their interest rates. The interest rates charged by HM Revenue and
Chancellor Rachel Reeves visited the US and Canada last week, and during an interview with Bloomberg was asked whether she was considering increasing capital gains tax. She replied: “We’ve got a budget on October 30 and we will set out our policy
Draft legislation has now been published for the government’s plan to end the VAT exemption for private school fees.The government is also legislating to remove private schools from being eligible for business rates charitable rates relief.
The previous government included plans to end non-domiciled tax status at the Spring Budget and replace it with a 4-year foreign income and gains (FIG) regime. The new government have now announced their intention to continue with these
The government made changes last week to the remit for the Low Pay Commission (LPC) that will mean it takes the cost of living into account when recommending minimum wage rates. The LPC have also been instructed to narrow the gap
From 1 August 2024, selling fees charged by Amazon to UK vendors will be subject to VAT at 20%. This is because of a change in the legal entity that charges the fees. Previously, fees were charged by Amazon Service Europe S.a.r.l (ASE), which did not have a UK establishment,
HM Revenue and Customs (HMRC) have published draft legislation and a policy paper outlining the proposal for the abolition of the furnished holiday lettings (FHL) tax regime. This was originally announced by the previous
Losing a job can be a very challenging and stressful experience. However, if your employer has become insolvent and cannot pay you money that you are owed this adds even further to your stress.
The Institute of Chartered Accountants in England and Wales (ICAEW) have reported that HM Revenue and Customs (HMRC) are contacting taxpayers they believe may have overclaimed Business Asset Disposal Relief.
The King’s Speech detailed proposals for a number of areas of new legislation that are likely to affect small employers. The Federation of Small Businesses (FSB) subsequently reported that nine-in-ten employers surveyed by them
The Chancellor, Rachel Reeves, has announced a significant review aimed at enhancing pension investments, increasing pension pots, and reducing waste in the pensions system. The review was highlighted in the
From 5‌‌‌‌‌‌ August‌‌‌‌‌‌ 2024, any request to change your VAT registration details should be made using the VAT online account, and not by using the VAT484 form or any other postal or electronic means. Using the digital route is quicker, more secure and will avoid any unnecessary delays.
HM Revenue & Customs have released a new tool designed to help businesses find out what VAT registration would mean for their business. The new HMRC tool can help you to estimate what VAT might be owed or reclaimed by your business if you were to register for VAT.

Download our latest Newsletter here

Get in touch