Thousands of eligible pensioners will receive a Winter Fuel Payment this winter. Whether or not you can keep the money will depend on your taxable income If you were born before 22 September 1959 and you live in England, Wales or Northern Ireland you could…

HMRC has confirmed that companies will not have to comply with the requirements of Making Tax Digital (MTD) for corporation tax (CT) purposes No start date had been set for MTD for CT, under which companies would have been required to maintain digital records; send…

From January 2026 UK businesses facilitating crypto asset exchanges must collect user and transaction data and report it to HMRC under the new crypto asset reporting framework (CARF) The first report, which will cover the period from 1 January to 31 December 2026, must be…

HMRC has published draft legislation aimed at tightening rules around umbrella companies in a bid to increase accountability, protect workers and ensure the correct tax is paid across the labour supply chain Umbrella companies are often used by temporary or contract workers who are paid…

Some individuals may be able to avoid this by claiming an exemption. Self-employed taxpayers and landlords with qualifying income of £50,000 or more on the 2024-25 tax return will be required to comply with MTD IT from April 2026. This means they will have to…

Draft legislation has been published giving more insight into how and when proposed restrictions to two major inheritance tax (IHT) reliefs will be implemented. At Autumn Budget 2024 the Chancellor announced plans to reform business prop­erty relief (BPR) and agricultural property relief (APR). Draft legislation…

If you reimburse fuel or charging costs for employees using a company car for business travel there will be no taxable profit and no Class 1A national insurance, provided the mileage amount paid does not exceed the advisory rates Engine size Petrol LPG Diesel ≤1400cc…

The issue affecting many self-employed taxpayers in relation to Class 2 national insurance contributions (NICs) is unlikely to be resolved before the end of September From the 2024-25 tax year, self-employed individu­als with profits more than £6,725 no longer need to pay Class 2 NICs….

The Government has announced plans to increase the threshold above which income from self-employment must be reported via self-assessment. Currently, if you earn over £1,000 from self-employment, or a so-called ‘side hustle’ such as babysitting or dog walking, you need to report this income to…