LATEST NEWS

Redundancy pay and tax
There is a tax-free limit of £30,000 for redundancy pay regardless of whether it is your statutory redundancy payment or
VAT group registration
There are special VAT rules that allow two or more companies or limited liability partnerships, commonly referred to as ‘bodies
What is fiscal drag?
The freezing of tax thresholds often leads to a phenomenon known as fiscal drag. When tax thresholds remain unchanged, taxpayers
Higher rate relief pension contributions
You can typically claim tax relief on private pension contributions up to 100% of your annual earnings, subject to certain
Current rates for Capital Gains Tax (CGT)
CGT is generally charged at a flat rate of 20% on most chargeable gains for individuals. However, if taxpayers are
Gifts and Inheritance Tax
Most gifts made during a person’s lifetime are not subject to tax at the time of transfer. These gifts, known
Business cashflow
The government offers the following information regarding business cashflow. If you do not have enough money coming in to pay
What is fuel duty?
The Office for Budget Responsibility (OBR) has offered the following explanation: “Fuel duties are levied on purchases of petrol, diesel
Is there a partnership in place?
A partnership is a reasonably straightforward way for two or more legal persons to establish and operate a business with
Not so Trivial Tax Benefits
There is a trivial benefit-in-kind (BiK) exemption for small, non-cash employee benefits. This exemption applies to BiKs classified as 'trivial,'
Two October self-assessment deadlines
The deadline for submitting paper self-assessment tax returns for the 2023-24 tax year is 31 October 2024. Late submission of
Pension Credit action week
Pension Credits can provide extra income to those over State Pension age and on a low income. The Department for