HMRC has tightened up the process for claiming tax deductible employment expenses following a series of high-profile scandals If you incur job-related expenses of up to £2,500 which are not fully reimbursed by your employer you may be able to claim tax relief. For expenses…

Many more sole traders and landlords will be required to comply with making tax digital (MTD) for income tax when the qualifying income threshold is reduced from £30,000 to £20,000 The Budget confirmed that taxpayers with qualifying income of £50,000 or more will be required…

At the Autumn Budget the Chancellor announced plans to remove the exemption which allows unused pension funds to be inherited tax free Currently, if a pension holder dies before the age of 75 their beneficiaries can generally inherit the remaining funds tax-free, whether as a…

When was the last time you checked your national insurance (NI) record for unexpected gaps or viewed your state pension forecast? Missing qualifying years in your NI record, or ‘gaps’, can reduce the amount of contributory benefits you are entitled to. This includes maternity pay,…

As expected, the Chancellor has confirmed the abolition of the generous tax regime enjoyed by non-UK-domiciled individuals, or ‘non-doms’ Broadly, the current rules apply to a UK resident whose permanent home – or domicile – for tax purposes is outside the UK. These individuals do…

It is common for some employers to pay their workers earlier than usual in December, for example if the business will be closed during the festive period While this may make sense for the business, being paid early can have an unwanted impact on an…

The rates of capital gains tax (CGT) payable on gains arising from assets other than residential property have been increased with immediate effect Rates Those taxpayers who decided to accelerate planned investment disposals before the Budget in anticipation of the predicted CGT hike will be…

Private schools will need to register for VAT and charge output VAT on education and boarding services when the exemption that currently applies is removed from 1 January 2025 All education and boarding services provided by a private school or connected person will be subject…

The Chancellor has announced that the main rate of secondary Class 1 national insurance contributions (NIC) for employers will increase by 1.2 percentage points from 13.8% to 15% from April 2025 The Class 1A and Class 1B employer rates (relating to benefits) will also increase…