Double cab pick-ups to be treated as company cars from April 2025
From April 2025, double cab pick-up trucks will no longer be treated as commercial vehicles for income tax and capital allowance purposes. This will significantly increase the benefit-in-kind (BIK) tax charge for employees and impact on the tax deductions available for businesses.
Autumn Budget Summary 2024
Chancellor Rachel Reeves delivered her Budget on Wednesday 30 October 2024. She pledged to ‘invest, invest, invest’ to drive growth and ‘restore economic stability’.
Budget reaction from Shaun Davison
An initial reaction to Rachel Reeve's Autumn Budget from Tax manager Shaun Davison.
Budget reaction from James Shipp
Given how much of the Chancellor’s Budget had already been signposted, businesses shouldn’t really have been expecting anything other than financial pain – and that is indeed what Rachel Reeves delivered.
Autumn Budget at a glance
Rachel Reeves delivered her first Budget as Chancellor of the Exchequer on 30 October 2024. The Budget aims to deal with the £22 billion ‘black hole’ in public finances whilst restoring stability and rebuilding public services.
ISAs should be viewed as an ongoing opportunity, rather than a one-off tax-saving method
Although we don’t yet know the full details, it is clear that taxes on gains on savings and investments is one area that the Chancellor will be looking at to raise extra revenues. This is having the effect of shining a spotlight on the benefits of wrapping investments in an ISA, where both capital growth and dividend/interest income are free of tax entirely – you don’t even have to declare any ISA on your tax return.
Leading UK charity fundraising expert tells regional charities they need to diversify their sources of income
Charities need to diversify their fundraising streams to cope with a rapidly changing funding environment, with many traditional sources of income drying up – that was the advice given by one of the UK’s foremost charity fundraising specialists at a special webinar for the region’s charity trustees and managers.
Investment bonds – a flexible investment vehicle which falls outside capital gains tax
Chris Egmore of Lovewell Blake Financial Planning says that onshore investment bonds can be a tax-efficient and simple way of investing for the medium- to long-term