Tax News
Our latest publications. Straight from the Hawsons' mouth.
UK company size thresholds to increase
To cut complexity and burdens from legislative reporting requirements, the thresholds for company sizes in the UK are being increased by 50%. Following the Spring Budget, it has been announced by the Prime Minister Rishi Sunak that the company size thresholds will be...
The tax year ends on 5th April each year, why is this?
Well you can blame the Romans, especially Julius Caesar and Europe. Back in 1582 the Pope Gregory X111 commanded the change from the Julian calendar as there was a problem. It ran for 30 or 31 days for 11 months and it was only February that had 28 days (29 every 4...
Agricultural Property Relief – Changes Ahead
Government initiatives often shape the landscape of various sectors, and agriculture is no exception. Recent developments in the UK's environmental policies are set to bring significant changes to agricultural property relief (APR). Background In 2023, the UK...
Spring Budget 2024 Summary
Spring Budget 2024 Summary Chancellor Jeremy Hunt delivered his ‘Budget for Long Term Growth’ on Wednesday 6 March 2024. His speech promised ‘more investment, more jobs, better public services and lower taxes’. Lowering taxes The Chancellor made further changes to...
Spring Budget 2024 – Key Tax Announcements
Today, Chancellor Jeremy Hunt announced his 2024 Spring Budget where he summarised the UK economic performance and announced his proposals for tax. We highlight below some of the key tax changes announced. National Insurance Contributions cut From April 2024,...
Advisory fuel rates for company cars
HMRC has published new advisory fuel rates for company car users which take effect from 1 March 2024. The new rates reflect a reduction of 1p per mile for most petrol and diesel engine cars compared to the previous quarter. Petrol cars with an engine size over 2000cc...
Government U-turn on double cab pickup tax
Government U-turn on double cab pickup tax After just one week the government has u-turned on plans to classify double cab pickup trucks as cars for tax and VAT purposes which would have resulted in huge tax increases. This U-turn comes after huge criticism from...
Tax benefits of marriage
Considering popping the question on Valentine’s Day? Here we look at some of the various tax credits and breaks married couples can benefit from and how it can pay to get married. The Marriage Allowance | Inheritance Tax | Pay less Capital Gains Tax | Reduce Income...
EOT Tax Benefits
An Employee Ownership Trust (“EOT”) is a trust that acquires shares in a company and holds them on behalf of the employees. It is an increasingly popular exit strategy for shareholders, which offers attractive tax incentives and peace of mind over the succession of...
Tax Nomads – No Tax!?
No Tax !? Here’s a list of questions that I get asked regularly How can I avoid paying taxes? What is the best way to pay no tax? What is the most tax efficient way to pay less tax? How can I reduce my tax? I am now prepared to share an answer for FREE. Don’t live...