Feb 27, 2025 | Business TaxPersonal Tax
HMRC is set to inform taxpayers affected by Making Tax Digital (MTD) for Income Tax, with letters starting in April. Initially, these will go to landlords, sole traders, and self-employed individuals earning over £50,000. From 6 April 2026, those earning above this...
Feb 26, 2025 | Personal Tax
According to a survey by the Building Societies Association, most cash ISA savers are firmly against any Government plans to reduce or scrap the tax-free savings allowance. Just 8% of respondents supported cutting the current £20,000 annual allowance, while 73% wanted...
Feb 24, 2025 | Personal Tax
HMRC has collected an extra £23 billion in taxes from April 2024 to January 2025, with self assessment receipts surging by 19% – a staggering £10bn more than pre-pandemic levels. Total income tax revenues, including PAYE, were £7bn higher in January 2025 compared to...
Feb 14, 2025 | Business TaxPersonal Tax
The Public Accounts Committee (PAC) has urged HMRC, Companies House, and the Insolvency Service to work more closely to combat tax evasion and corporate fraud. MPs criticised the slow progress in joint efforts, highlighting missed opportunities to recover lost tax...
Feb 10, 2025 | Personal Tax
From April 2027, unused pension pots and death benefits will be included in an individual’s estate for inheritance tax (IHT) purposes. The Association of Taxation Technicians (ATT) has warned that this change, announced in the Autumn Budget, could increase costs and...
