Spring Statement reaction
My colleague Ed Passmore wrote in Wednesday’s EDP that businesses shouldn’t expect too much from Chancellor Rachel Reeves’ spring statement, and he wasn’t wrong – there was precious little which will directly affect business. But that doesn’t mean that there weren’t a few nuggets of interest.
CIOT calls on government to rewrite unfair VAT rules
The Chartered Institute of Taxation (CIOT) is calling on the government to address unfair tax rules as interest rates on late payments rise.
Important Tax Changes for Furnished Holiday Let Owners
What Married Couples and Civil Partners need to know before April 2025
HMRC late payment interest cut by 0.25%
HMRC has reduced late payment and repayment interest rates following the cut to the base rate.
HMRC warns landlords to disclose earnings
HMRC has warned landlords to disclose their earnings on self assessment tax returns.
Employer NICs rise may have consequences
The extra costs of the increase in employers’ NICs could cause businesses to respond in ways the government did not intend, the Chartered Institute of Taxation (CIOT) has warned.
Final call for voluntary National Insurance contributions
Taxpayers only have until 5 April 2025 to make voluntary National Insurance (NI) contributions for missed contributions dating back to 2006.
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.