Permanent increase to penalty interest rates The new tax year saw a change to the way interest on late paid taxes is calculated. What’s changed and what are the new charges? for more help with your Business see our Services Page Prior to 2025/26, interest was charged at the Bank of England base rate plus ... Read More
Do hybrid workers take fewer sick days A survey of 2,000 hybrid workers by International Workplace Group has revealed that more than a third are taking fewer sick days than they did when they were working full time in the office. What are the potential reasons for this? for more help with your Business, see ... Read More
Hidden MTD news in Spring Statement documents Chancellor Rachel Reeves kept her pledge that there would be no more tax rises at the Spring Statement, but there are some important Making Tax Digital developments hidden away in the tax related documents. What do you need to know? The timetable for Making Tax Digital for Income ... Read More
The Spring Statement 2025 Chancellor 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 businesses stability and certainty on upcoming tax and spending changes and, in ... Read More
HMRC MTD ITSA webinar – worth a look Making Tax Digital will be mandatory for some traders and landlords next year. Ahead of this, the government is ramping up its guidance to help you get ready. What is the latest offering? Some sole traders and landlords will be mandated into Making Tax Digital for Income ... Read More
Relaxation of self-assessment threshold HMRC has promised a change to the threshold at which self-employed taxpayers need to complete a tax return. What do we know so far? Currently, those with trading income exceeding £1,000 must submit a tax return each year, even if they do not have any tax to pay. HMRC has announced ... Read More
MONTHLY FOCUS: PROFIT EXTRACTION FOR 2024/25 – Dunhams News Blogs The 2024/25 tax year has been a reprieve from the fiddly tinkering which has plagued profit extraction in recent years. There have been no in-year changes to NI rates or corporation tax rates etc. to deal with. As a result, you can focus on your ... Read More
Government seeks views on inheritance tax changes for trusts The government has opened a consultation on aspects of the application of the £1m allowance for property settled into trust qualifying for 100% agricultural property relief or business property relief. What is this looking at and how do you take part? For more help see our ... Read More
Latest advisory fuel rates for company cars The amount that employers can reimburse staff for business travel in company cars changes from 1 March 2025. What are the new rates? Advisory fuel rates for company cars are updated by HMRC on a quarterly basis due to fluctuations in fuel prices. The rates determine the amount ... Read More
Late payment interest rates changed again Late payment interest rates on underpaid taxes will soon decrease again due to the recent reduction in the Bank of England’s base rate. What are the new charges? On 6 February 2025 an announcement confirmed a reduction in the Bank of England base rate to 4.5% from 4.75%. As ... Read More
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