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Making Tax Digital for Income Tax volunteers

Making Tax Digital for Income Tax volunteers

by | Jan 2, 2025 | Income Tax

From April 2026, Making Tax Digital for Income Tax (MTD for ITSA) will transform tax compliance for businesses, self-employed individuals, and landlords, mandating digital record-keeping and online submissions. Get prepared! The mandatory signup for Making Tax...
Inheritance Tax thresholds and the RNRB

Inheritance Tax thresholds and the RNRB

by | Jan 2, 2025 | Inheritance Tax

Inheritance Tax nil-rate bands remain frozen until April 2030. Learn how this affects estates, the residence nil-rate band, and planning opportunities to maximise tax-free inheritance for loved ones. The Inheritance Tax (IHT) nil-rate bands have been frozen for a...
Using the car fuel rates

Using the car fuel rates

by | Jan 2, 2025 | Employee Benefits

Advisory fuel rates for company cars help employers and employees manage fuel costs without triggering tax liabilities. Learn how to use these rates to avoid tax, especially car fuel benefit charges. HMRC's fuel rates also known as advisory fuel rates are...
Advising HMRC of employees’ company car details

Advising HMRC of employees’ company car details

by | Jan 2, 2025 | Employee Benefits

Ensure compliance with HMRC rules when providing company cars. From P46(Car) submissions to benefit reporting, learn what steps to take for private use and specific exemptions. Here are the steps you need to follow to inform HMRC if you make any cars available for...
Capital Gains Tax – the new rates

Capital Gains Tax – the new rates

by | Jan 2, 2025 | Capital Gains Tax

Capital Gains Tax rates have increased for disposals from 30 October 2024, with further changes ahead. Stay informed on the updated rates for assets, property, and reliefs to optimise your tax planning. We would like to remind our readers of the updated Capital Gains...