I was surprised to see an unusual story this week. Whatever your thoughts on DOGE and their antics I would imagine we can all agree that anyone under their scrutiny should probably not shred and burn all of their records. Even worse to do it en […]
I was tagged in a post on a Facebook group for someone that was asking for tax advice. The poster added the question “Are they licensed?” at the end of the post. It raised an interesting question. As much as social media is not a great place to get your tax advice from it’s not […]
I’m sure a lot of you would rather not have to engage with a tax advisor to get your affairs up to date each year. Believe it or not the Chartered Institute of Taxation believes the same. For spring 2025, the Government has committed to announcing a package of measures to simplify tax administration and […]
Mervyn King (the darts player, not the ex governor of the Bank of England) has said he is bankrupt due to tax liabilities. He seemingly spent many years collecting winnings not realising that “winnings” were taxable as earnings. The cynics reading will be asking him to pull the other one but it is surprising how […]
The UK is making significant strides in promoting gender equality within its top companies. According to the latest FTSE Women Leaders Review, women now occupy over 43% of board positions across FTSE 350 companies, marking a notable increase from previous years. This progress underscores the UK’s commitment to fostering inclusive leadership and harnessing the diverse […]
1 March 2025 – Due date for Corporation Tax due for the year ended 31 May 2024. 2 March 2025 – Self-Assessment tax for 2023-24 paid after this date will incur a 5% surcharge unless liabilities are cleared by 1 April 2025, or an agreement has been reached with HMRC under their time to pay […]
The UK’s shift to the Foreign Income and Gains (FIG) regime from April 2025 changes how foreign income is taxed. If you are a UK resident, get ready to possibly pay UK Income Tax on all foreign earnings – no more non-dom remittance basis. UK Income Tax is generally payable on taxable income received by […]
If redundancy strikes, you could receive up to £30,000 tax-free. Whether it’s statutory or a more generous employer offer, understanding your entitlements and the latest caps on weekly pay can make a real difference to your finances. There is a tax-free threshold of £30,000 for redundancy payments, regardless of whether the payment is your statutory […]
Health professionals providing medical services may be exempt from VAT if their work falls within their registered profession and primarily protects, maintains, or restores health. HMRC outlines specific exempt services, including diagnosis and treatment. The VAT liability of goods and services provided by registered health, medical, and paramedical professionals, can be a complex area of […]
HMRC has launched a new “Help for Hustlers” campaign to help people who are earning extra income, figure out if they need to pay tax on the additional earnings. The campaign runs until the end of March and focuses on five key areas where tax might apply: I’m buying or making things to sell. I’ve […]