pjw@hawsons.co.uk On 26th November 2025, Chancellor Rachel Reeves delivered her Autumn Budget Statement. She announced a reduction in Capital Gains Tax relief available on qualifying disposals to employee ownership trusts from 100% of the gain to 50%. This will be...
Employee Ownership Trust 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...
sac@hawsons.co.uk aaronhemmington@hawsons.co.uk Autumn Budget 2025 SummaryChancellor of the Exchequer Rachel Reeves set out tax-raising measures worth up to £26 billion in the Autumn Budget on 26 November 2025. The increases will be achieved through a range of...
If you've been under the impression that Inheritance Tax (IHT) changes are a distant concern, it's time to reconsider. Recent reforms are set to significantly impact business owners and farmers, particularly those with businesses or farms with values exceeding £1...
The Removal of the Remittance Basis of Taxation From 6 April 2008, individuals who were UK residents, but non-domiciled (‘non-doms’), had the option to be taxed on a ‘remittance’ basis. Under these rules, foreign income and gains were not taxed in the UK unless they...
Following numerous delays, Making Tax Digital for Income Tax (MTD for IT) is only a year away from being made compulsory for individuals with an annual gross rental income and/or a gross self-employed income of over £50,000. The income threshold will be lowered over...
Introduction We have summarised the key rates and allowances which are fundamental to our business and personal lives. We are sure that you will find them a useful point of reference and have set out below a few examples of how they can be used. Personal tax rates As...
Spring Statement 2025 SummaryChancellor of the Exchequer, Rachel Reeves, held the Spring Statement on Wednesday 26 March 2025. In the run up to the event, the Chancellor stated that she ‘remains committed to one major fiscal event a year to give families and...
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...
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...
Autumn Budget 2024 SummaryChancellor Rachel Reeves delivered her Budget on Wednesday 30 October 2024. She pledged to ‘invest, invest, invest’ to drive growth and ‘restore economic stability’. Billions in tax rises Ms Reeves said the Budget will raise £40 billion in...
Today, Chancellor Rachel Reeves announced her 2024 Spring Budget where she summarised the UK economic performance and announced her proposals for tax. In this budget, the chancellor announced that she will raise taxes by £40bn to increase government funding. In this...