Company car rules
The rules surrounding company cars are not clear cut and easy, and there are many different aspects to consider. We will take you through each consideration and where this may or may not be a tax saving.
Minimum wage rose on 1 April
Increases to the National Living Wage and National Minimum Wage took effect from 1 April.
Revenue recognition: what do I need to know?
Back in March 2024, the Financial Reporting Council (FRC) issued periodic review amendments to UKGAAP. Among the key changes is the introduction of a five-step model for revenue recognition, which has sparked considerable discussion.
Neonatal Care Leave – What do employers need to know?
The Neonatal Care (Leave and Pay) Act 2023 will be introduced in England, Wales and Scotland from 6 April 2025 which has been developed to support parents of babies who require neonatal care.
Making Tax Digital for Income Tax
HM Revenue & Customs are introducing Making Tax Digital (MTD) for Income Tax from 6 April 2026. This will change the way sole-traders and landlords keep their records and report their income and expenses.
HMRC to enable Child Benefit charge clawback through PAYE
Taxpayers facing the High Income Child Benefit Charge (HICBC) will soon be able to pay the charge through their payslip, saving them the trouble of filing self-assessment tax returns.
Cash ISAs left alone – for now
Scott Hansell of Lovewell Blake Financial Planning says ISA reform is still on the Chancellor’s agenda, even though she made no mention of it in last month’s Spring Statement.
VAT Alert - Knowing if you need to register for VAT when the business entity changes
Usually, when there is a change to a business entity, such as a sole trader to a limited company, the question is often asked whether the company is taking on the sole trader business as a going concern?