More taxpayers moving to higher rate
New figures released alongside the Budget highlight a projected surge in the number of people set to pay more than the basic rate of tax. Does that include you?
Tax
2023/24 – the 23-month tax year?
If you are self-employed, the new tax year may be longer than you think – 23 months in fact. What are the tax implications for you?
Looking forward to a Happy New Tax Year?
The new tax year starts on 6 April and with this brings a raft of changes to personal tax, making an early review of the year ahead a wise move. What actions will you take to ease the tax burden?
Making Tax Digital for income tax deferred
During the non-news week before Christmas, there was a significant announcement on the Making Tax Digital (MTD) scheme for income tax.
Caught by the additional tax rate taper trap
A growing number of taxpayers are being caught by the personal allowance taper, which will be exacerbated by the reduced additional rate tax threshold of £125,140. With many also questioning why the new threshold is not a round number, a short history of tax setting provides the answer.
Cohabitation law reforms rejected
The government has rejected proposals to modernise cohabitation laws in England and Wales, leaving it up to individuals to arrange their financial affairs for partners and dependents.
Investors set to pay more tax
In his Autumn Statement, the Chancellor, Jeremy Hunt, said that in making decisions on tax the government followed a broad principle that “we ask those with more to contribute more”. Investors were clearly placed into this category.
After the storm: self-employed tax planning
If you are self-employed or work via a company the winding back of many of the proposals in September’s mini-Budget have altered tax planning.
The lessons from the U-turns
Gone are the days when a Chancellor made only two set piece announcements each year and, for the remaining days of the year, tax remained generally out of the headlines.
Inheritance tax receipts double in a decade
New data from HMRC reveals the Treasury’s IHT receipts have doubled since 2012/13, the result of a frozen nil rate band and surging inflation. Is IHT a concern for you?