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How to be tax efficient as a company director in 2025/26
How to be tax efficient as a company director in 2025/26 With the changes announced in the Chancellor’s Autumn 2024 budget now coming into effect, it is important for businesses…
Goodbye P11ds!
The transition from P11D reporting to Payrolled Benefits in Kind The landscape of tax reporting has seen significant changes since the introduction of the P11D form in the 1960s. To…
How inaccurate P60s can cause tax issues
Filing a tax return is rarely anyone’s idea of an enjoyable activity, but accuracy is crucial to avoid costly penalties and unnecessary complications. Many taxpayers don’t realise that an inaccurate…
Still to do your tax return?
As we welcome 2025, there are still 5.4m taxpayers who have yet to file their 2023/24 self assessment returns, compared to 5.7m who were yet to file at the start…
Making Tax Digital for Income Tax Self Assessment (MTD for ITSA): Important Threshold Changes
The latest announcement regarding Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) has brought significant changes to the digital tax landscape. HMRC has announced a reduction in…
Changes to lease accounting
Amendments to FRS 102 which come into effect for periods commencing on or after 1 January 2026, will have a considerable impact on how leases are accounted for lessees. The…
Changes expected to company size criteria
The changes in company size thresholds first introduced by the Conservative government are expected to come into force on 6 April 2025. This will mean some companies will fall out…
HMRC late payment interest changes
In the October 2024 Budget, the UK government announced an increase in HMRC’s late payment interest rates. Starting from 6 April 2025, the rate will rise by 1.5 percentage points,…
Autumn Budget 30.10.24 Tax Rates
Tax Rates 2024/25 Tax Cards Welcome to the 2024-25 Tax Rates Income Tax Allowances 2024/25 2023/24 Personal Allowance (PA)* £12,570 £12,570 Marriage Allowance† 1,260 1,260 Blind Person’s Allowance 3,070 2,870…
Employee Mileage Claims
In most businesses an element of business travel is involved, employees and employers can be confused about how to reimburse employees (or even themselves) for the fuel they use to…
Autumn Statement Tax Tables 2024/25
Autumn Statement Tax Tables 2024/25 Income Tax Rates and Allowances (Table A) Main allowances 2024/25 2023/24 Personal Allowance (PA)*† £12,570 £12,570 Blind Person’s Allowance 3,070 2, 870 Rent a room…
Autumn Statement
AUTUMN STATEMENT 22.11.23 Mind your headroom In the weeks leading up to the Autumn Statement, the press was full of speculation about tax cuts. This was a surprise, just over…