As you know the UK tax year runs from April 6th to April 5th. A system that has been in place for centuries. This peculiar timeframe often puzzles people, but it is more a long-standing tradition than a mistake. This quirky tradition dates to 1582. Before that, the UK operated on the Julian calendar, which […]
Author Archives: Priya Raja-Motala
27
Mar
Mar
The Labour government has reiterated its commitment to ensuring security, increasing disposable income, and improving living standards for working people. So, what does the Spring Statement mean for you? You are business owner It is crucial to note the significant changes that will take effect from 6 April 2025 regarding both the national minimum wage […]
18
Mar
Mar
It wasn’t that long ago when we were discussing whether Inheritance Tax (IHT) would be abolished, how fortunes have changed. A few months into the Labour government we saw the complete opposite. During the Autumn Budget last October and the first one for Labour in as many years, it was confirmed that IHT would stay! […]
12
Mar
Mar
You may already know there is an opportunity to make up for any “lost years” regarding your state pension. There can be various reasons for these lost years, but the important point is that the 5th April 2025 deadline is approaching quickly. It’s essential now to familiarise yourself with the state pension rules. The state […]
05
Mar
Mar
The government aims to crack down on illegal workers and target so-called “rogue employers.” These employers exploit the immigration system to secure cheap labour. Like last week’s blog discussing businesses and individuals facing increased tax investigations, the government has appointed more officers to target certain employers. To avoid getting caught in the crossfire, make sure […]
Corporation Tax, HM Revenue & Customs, Landlords, partnerships, VAT Compliance
HMRC plans to increase the number of tax investigations
26
Feb
Feb
While she was the shadow chancellor, Rachel Reeves announced a policy to invest more in tax compliance, with an investment of approximately £555 million. This funding was to ensure that HM Revenue and Customs (HMRC) had the resources to recruit more inspectors. Fast forward to the Autumn Budget, Ms Reeves unveiled further details. The Labour […]
19
Feb
Feb
You may have noticed that last Friday was Valentine’s Day. The name “Valentine’s Day” is thought to come from a Roman priest in the third century AD who performed secret marriages. Marriage can evoke a range of beliefs: some people genuinely value the institution, others are indifferent, and some do not believe in it at […]
12
Feb
Feb
You may have heard that the statutory limits requiring businesses to conduct audits are changing soon. So, why does this matter? And what are the changes in audit limits? It matters because if you already must have your financial statements audited, then from April 2025, you have the option not to, depending on the size […]
05
Feb
Feb
Whether you are an existing landlord or considering becoming one, funding and mortgages will likely be on your mind. Many of you may have already begun your journey as landlords by re-mortgaging a property you owned. It seems straightforward, if you have equity in a property, why not re-mortgage to release some funds? However, it’s […]
29
Jan
Jan
Stamp Duty Land Tax (SDLT) is the full name of the tax on property and land. This tax will change starting from 1st April 2025, as announced during the Autumn Budget. In fact, some of the changes have already taken place. So, what is Stamp Duty? How is it changing? What is Stamp Duty (SDLT) […]