Articles in "Tax"

HMRC will send Simple Assessment tax statements to pensioners in the next few weeks.

With the new Labour government promise to hit the ground running in the first 100 days of power, no time was wasted announcing their first tax changes.

Divorce can be one of the most difficult life events that an individual can face. With an estimated UK divorce rate of 42%, it is an area that we see increasingly often. The tax rules in connection with dividing up chargeable assets can be complex and must be considered prior to any financial order being agreed to protect against an unexpected tax burden.

From April 2023, there have been year on year reductions to the annual exemption for Capital Gains Tax (CGT), increasing the exposure of individuals to CGT and consequently those required to report the disposal of UK residential property to HMRC within 60-days of completion. The Chancellor did provide a silver lining in the 2024 Spring Budget, announcing the reduction in the higher rate of CGT payable on disposals of residential properties, which applies from April 2024.

New company car advisory fuel rates have been published and took effect from 1 June 2024.

An HMRC error could mean that some low-income, self-employed workers lose out on their entitlement to National Insurance-related benefits like the state pension, warns the Low Incomes Tax Reform Group (LITRG).

HMRC has updated guidance on when tax relief is available on travel expenses for staff who work from home.

One in ten highly skilled freelancers are currently out of work due to the impact of reforms to IR35 tax legislation, according to research published by the Association of Independent Professionals and the Self-Employed (IPSE).