HMRC has published new advisory fuel rates for company car users which take effect from 1 December 2024. The rates have decreased by 1p per mile for petrol and diesel engine cars. Whilst rates for LPG and electric mileage remains unchanged. HMRC reviews the advisory...
The Government has recently introduced the much-anticipated Renters Right Bill, aimed at offering greater protection to tenants across the country. This bill represents a significant shift in housing policy, one of its most prominent features is the ban on Section 21...
The construction industry has emerged as the hardest-hit sector for insolvencies in the year leading up to April 2024. Recent data from the Insolvency Service found that 4,401 construction companies in England and Wales registered as insolvent. This accounts for a...
HMRC have announced that from April 2026, the existing penalty system for late filing of tax returns under Self-Assessment will be amended to a points-based system for self-employed people and landlords with turnover above £50,000. This coincides with those...
The Chancellor Jeremy Hunt has announced his Spring Budget which took place this afternoon. We have highlighted below some of the key tax changes announced by the Chancellor. Corporation tax The Chancellor confirmed that he is going ahead with increasing the...
Chancellor Jeremy Hunt will deliver his 2023 Spring Budget on Wednesday 15th March 2023. What time is the Budget? The Budget is expected to take place at about 12:30 pm, straight after PMQs. The first part of the statement typically begins with a review of the...
Introduction Figures published by Zoopla have found that demand for rental homes is at its highest level in over a decade. This increase in demand is compounded by the lack of supply which is driving up prices for those who rent. To demonstrate this, the number of...
HMRC will no longer issue option to tax notification receipt letters from 1 February 2023. Supplies of land and buildings are normally exempt from VAT, but it is possible to opt to tax the land/property which may allow some recovery on expenses if VAT is charged on...
What is being delayed? HMRC has announced that plans to implement digital tax reporting for unincorporated businesses and self-employed individuals and landlords in April 2024 will be delayed until April 2026. Why has MTD been delayed? HMRC have said that businesses...
A recent survey from Glenigan of more than 100 members of the National Federation of Roofing Contractors (NFRC) has found that roofing and cladding contractors are still struggling with recruitment issues in the third quarter of 2022. But, this survey does confirm...
The Government in the mini-Budget announced Stamp Duty Land Tax (“SDLT”) cuts to help first-time buyers and next-move homeowners purchase properties more affordably. These changes were effective from 23 September 2022. Unlike many of the other proposed tax changes,...
The Chancellor, Jeremy Hunt, has given his first Autumn Statement. We have highlighted below some of the key tax announcements made by the Chancellor: Personal tax thresholds The Chancellor has announced that personal tax thresholds will be frozen for a further...