Changes are coming for anyone that pays Income Tax via Self-Assessment. Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA) will be a requirement for anyone with a business and/or property income of more than £50,000 per year, from April 2026.
For many employees the COVID-19 pandemic changed their working arrangements. Suddenly the ‘office’ took on a new meaning and location, namely their own homes. Here we discuss the tax implications that anyone working from home should consider. Choice or...
With less than 3 months to go until the self-assessment deadline, now is the time to get started if you need to file a personal tax return, and with that in mind, we have prepared a beginners guide to self-assessment. Below you will find an overview of the process,...
In an attempt to stabilise financial markets which had been thrown into turmoil following the ‘mini-budget’ announcements in September, the (new) Chancellor, Jeremy Hunt made a statement to the House of Commons on Monday 17 October 2022. He announced what amounts to a...
OCT 2022 UPDATE: During the course of October, the Government announced a series of u-turns in relation the ‘mini-budget’. These u-turns included 45% additional income tax rate to remain indefinitely Corporation Tax increase (from 19% to 25%) to go ahead...
Marriage Allowance is one of the most under-utilised personal tax saving options and at a time when cost of living pressures are only increasing, it’s worth taking advantage if you can. One of the reasons for such a low take up of the scheme is probably because the...
