News and Articles

26 Apr 2024

HMRC clarifies tax rules for WFH commuting

HMRC has updated guidance on when tax relief is available on travel expenses for staff who work from home.

25 Apr 2024

UK borrowing £7.6 billion lower than last year, data shows

Figures have shown that UK borrowing over the last financial year was £7.6 billion lower when compared to the year before.

24 Apr 2024

Inheritance tax receipts hit a record high of £7.5 billion

Data published by HMRC has revealed that inheritance tax (IHT) receipts rose to a record high of £7.5 billion in the 2023/24 tax year.

23 Apr 2024

Small firms confused over upcoming import rules

The government has been accused of confusing small firms before new import rules on plant and food products are introduced, according to the Federation of Small Businesses (FSB).

22 Apr 2024

HMRC launches MTD for Income Tax pilot

HMRC's pilot scheme for Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) launches today (22 April).

19 Apr 2024

Umbrella company regulation in 'precarious position', warns IPSE

Government proposals to enact a due diligence regime for the umbrella company market are in a 'precarious position, unless government shows some urgency, the Association of Independent Professionals and the Self-Employed (IPSE) has warned.

18 Apr 2024

Business price pressures persist, warns BCC

Business price pressures persist despite the UK's inflation rate falling to its lowest level since September 2021.

17 Apr 2024

UK inflation falls to lowest level since September 2021

The UK's annual inflation rate fell in March for a second consecutive month, dropping to 3.2%, according to the latest figures from the Office for National Statistics (ONS).

16 Apr 2024

Small firms 'treading water' on investment, BCC warns

The British Chambers of Commerce (BCC) has warned that UK small firms are 'treading water' on investment.

15 Apr 2024

Government must 'ensure growth among small firms is nurtured', says FSB

The Federation of Small Businesses (FSB) has urged the government to ensure that small business growth is 'nurtured rather than left to wither'.

12 Apr 2024

Only five MTD for ITSA software products ready for testing

The Institute of Chartered Accountants in England and Wales (ICAEW) has warned that just five Making Tax Digital for income tax self assessment (MTD for ITSA) software products are ready for beta testing on 22 April.

12 Apr 2024

The march of the higher rate taxpayer

New calculations issued alongside the Spring Budget show just how higher rate taxpaying status is becoming ever more common.

12 Apr 2024

Request flexible working rights from day one

From 1 June 2024, the abolition of multiple dwellings relief under stamp duty land tax (SDLT) will stop disputes about what qualifies as a separate dwelling (e.g. a granny annexe). However, the scrapped tax will impact English and Northern Irish buyers who purchase two or more properties in a single, or linked, transaction.

12 Apr 2024

Deductibility of training costs

HMRC has recently published guidance to provide greater clarity about the tax deductibility of training costs for the self-employed. Apart from updating current skills, costs are also deductible if they provide new skills or knowledge to support the business.