Mar 19, 2025 | Personal Tax
The Government has announced that the annual threshold for reporting side hustle and small-scale trading profits will rise from £1,000 to £3,000. This move could remove up to 300,000 individuals from the self assessment tax system, as they would no longer be required...
Mar 19, 2025 | Current AffairsPersonal Tax
From 1 April, millions of households will see their council tax bills rise. Most local authorities in England are planning increases of 5%, adding around £109 to a typical Band D bill. In Scotland, rates are set to rise by at least 8%, while in Wales, increases will...
Mar 12, 2025 | Personal Tax
Up to 300,000 taxpayers will no longer need to file a self assessment tax return as the Treasury raises the annual reporting threshold from £1,000 to £3,000. However, this change won’t take effect until at least the 2027/28 tax year, as HMRC needs time to develop an...
Mar 10, 2025 | Personal Tax
The free online service for filing accounts and company tax returns will be permanently closed from April 2026. Small businesses that rely on this service to submit accounts to Companies House and tax returns to HMRC will need to switch to commercial software. From 1...
Mar 6, 2025 | Business TaxPersonal Tax
HMRC’s clampdown on IR35 off-payroll working rules has raised £4.2bn in additional tax, National Insurance, and apprenticeship levy payments between October 2019 and March 2023. Around 120,000 contractors were affected, with the average individual paying £10,000 more...
