The start of the 2024/25 financial year saw the Capital Gains Tax (CGT) Annual Exempt Amount fall to a historic low of £3,000, down from £6,000 the previous year.
Category Archives: Tax
HMRC has clarified tax rules on commuting for hybrid and remote workers
In a recent statement, HM Revenue & Customs (HMRC) has clarified travel from an employee’s home to their base office under a hybrid working arrangement does not qualify for tax relief.
Plan a little, achieve a lot – Destress with effective tax planning
April marks both the start of the 2024/25 tax year and Stress Awareness Month – a coincidence not lost on those of you who are turning your attention to tax planning for the coming year.
Higher rate taxpayer? How to prepare for the end of the tax year
The end of the financial year is coming. 5 April is crunch time for making businesses and individual estates as tax efficient as possible.
Making Tax Digital – Your questions, answered
Making Tax Digital (MTD) is designed to simplify the tax process for business owners.
Attention UK Taxpayers – do you understand the 500T tax code?
The 500T tax code in the UK is a temporary, non-cumulative code used by HMRC when they lack information.
Warning to all taxpayers – Pay your taxes on time amidst rising interest rates
As the deadline for paying any tax approaches, it is crucial you make your payments accurately and on time before it is too late. Continue reading
Tightening the reins on ‘side hustles’ – Navigating HMRC’s new powers
HM Revenue & Customs (HMRC) is now using new powers granted to them by the Government to target a key area of tax evasion – online traders. Continue reading
Implications for businesses amid soaring pension tax relief
Recent statistics reveal a significant increase in the amount of annual pension tax relief, exceeding £50 billion for the first time.
Understanding Capital Gains Tax on property investments
Investing in property can be a lucrative venture, but it’s essential to understand the implications of Capital Gains Tax (CGT) on these investments to protect your investments from unexpected costs.