The government has done a U-turn on a plan to classify double-cab pick-ups as cars for tax purposes. HM Revenue & Customs announced on February 12 2024 that it would close the ‘loophole’ that allowed double-cab pick-ups that can carry payloads… Read more
HM Revenue and Customs (HMRC) are warning that fraudsters could focus on Self Assessment taxpayers. HMRC say that they have responded to 207,800 referrals in the year to January, with more than 79,000 relating to fake tax rebates. The total… Read more
The tax and NI rates and thresholds, as well as the national living and minimum wage levels, applicable to earnings taxed under PAYE have been confirmed for the 2024/25 tax year. One of the more lamented features of the current… Read more
Those aged between 18 and 40 can set up a Lifetime ISA (Individual Savings Account) to buy their first home or save for later life. You can put in up to £4,000 each year until you’re 50. The government will… Read more
In recent weeks there has been a flurry of online activity discussing the new law that will require online marketplaces to report information about income made by their users to HMRC. The discussion has led to many people asking questions… Read more
WHAT TAX ANNOUNCEMENTS WILL BE MADE IN THE SPRING BUDGET? Clients will no doubt be hopeful of major tax cuts from the Conservative government alongside schemes to improve economic growth. Little is certain, but we do have some strong indications… Read more
