News
Agricultural and business property relief changes
Agricultural and business property relief changes that were first announced at Autumn Budget 2024 will come into effect from 6 April 2026. These measures will introduce significant reforms to Business
Property and savings income subject to new tax rates
The government announced at Budget 2025 that dividend income, property and savings income, will be subject to new tax rates. These changes will be legislated for through the Finance Bill 2025-26 and
Avoid over-stocking
Accountants often see the impact that excess stock has on a business long before the business owner realises what is happening. Over-stocking drains cash, fills storage space, increases waste, and
The value of an overhead audit
Many businesses regard their overheads as fixed, predictable, and largely outside their control. In reality, an overhead audit often uncovers costs that have risen quietly, services that are no longer
Less than 1 month to self-assessment filing deadline
There are now less than 2 months to the self-assessment filing deadline for submissions of the 2024-25 tax returns. We urge our readers who have not yet completed and filed their 2024-25 tax return to
Who pays Income Tax in Scotland
The rules that govern who pays Income Tax in Scotland is determined by whether an individual is considered a Scottish taxpayer. For most people, determining Scottish taxpayer status is
Increase in savings guarantee for bank deposits
The Financial Services Compensation Scheme (FSCS) has raised its savings guarantee for bank deposits, increasing the deposit protection limit from £85,000 to £120,000 per person. This change came into
Defer paying Class 1 National Insurance on a second job
Employees with a second job, third job or more may be able to defer or delay paying Class 1 National Insurance on their additional employment. This deferment can be requested when Class 1 National
Work out your VAT fuel scale charge
VAT road fuel scale charges are fixed, standardised amounts that businesses must use to account for output VAT when they provide fuel for private use in a vehicle that is also used for business
Update from HMRC on MTD testing
HMRC has published a new Making Tax Digital newsletter. This newsletter is mainly intended for taxpayers and agents who are currently testing the Making Tax Digital for Income Tax (MTD for IT) system.