Major changes to Inheritance Tax from April – How new residence rules and the end of non-dom status could affect your estate
Mar 25, 2025
Major reforms to the UK’s Inheritance Tax (IHT) regime are on the horizon, with sweeping changes, particularly affecting non-domiciled individuals (non-doms) set to take effect from 6 April 2025. At the heart of these reforms is a move away from the ...
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Capital Gains Tax clampdown – What HMRC’s surge in investigations means for you
Mar 20, 2025
HM Revenue & Customs (HMRC) has intensified its efforts to track down unpaid Capital Gains Tax (CGT), with recent figures showing an increase in compliance activity. The number of completed CGT investigations more than trebled in the last tax year, rising ...
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How neonatal care leave will affect your payroll and policies
Mar 18, 2025
From 6 April 2025, employers will need to accommodate a brand-new statutory entitlement: neonatal care leave and pay. Introduced under the Neonatal Care (Leave and Pay) Act 2023, the legislation offers vital financial and emotional support to parents whose babies require ...
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Welcome news for thousands as Income Tax reporting threshold set to increase
Mar 13, 2025
In a move to simplify tax compliance and boost the economy, the Government has announced that the Income Tax Self-Assessment (ITSA) reporting threshold will rise from £1,000 to £3,000. This means that around 300,000 people will no longer need to file ...
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Road tax changes for electric vehicles – How to secure an extra 12 months tax-free
Mar 11, 2025
If you own an electric or low-emission vehicle, you have likely enjoyed the benefit of paying zero road tax. However, from 1 April 2025, all electric, zero, and low-emission cars, vans, and motorcycles will be subject to Vehicle Excise Duty (VED) ...
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Could a Family Investment Company help you manage tax and protect wealth?
Mar 06, 2025
For individuals and business owners looking to preserve wealth for future generations while maintaining control over their assets, Family Investment Companies (FICs) are an alternative option to trusts. With the October Budget announcing changes to Capital Gains Tax (CGT), Business Asset ...
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HMRC sends letters as next phase of MTD edges closer
Mar 04, 2025
From April 2026, the way you report your income tax will change. HM Revenue & Customs (HMRC) is introducing Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA), and if you are a sole trader, self-employed individual, or landlord earning over ...
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The power of strategic planning and why your business needs a roadmap
Feb 27, 2025
It would seem fairly straightforward to point out that running a business without a plan is a bit like setting off on a road trip without a map. However, this analogy seems a tad antiquated. Who uses a map anymore? It would ...
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HMRC updates guidance on tax classification of double cab pick-ups
Feb 25, 2025
HM Revenue & Customs (HMRC) has issued updated guidance on the taxation of double cab pick-up trucks, clarifying which vehicles will be affected by the Government’s decision to reclassify them as company cars for tax purposes. We have previously brought you ...
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Furnished Holiday Lets – Where are we now?
Feb 20, 2025
With significant changes to the Furnished Holiday Let (FHL) regime coming into effect in April 2025, owners of holiday rental properties face crucial decisions about their tax position and business structure. What are the key upcoming changes to FHL? The favourable tax ...
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