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Tax Tips and News

  • Spring Statement 2024

    Introduction Cuts to National Insurance contributions and the abolition of so-called 'non-dom' tax breaks were among the headline announcements in the Spring Budget 2024. The Chancellor delivered his speech in the House of Commons, unveiling a range of tax and spending measures. However, there was no cut to income tax, despite much speculation in recent…Read More

  • Spring Finance Bill sets shape for tax changes to come

    Newsletter issue – April 2024 You‘ve probably digested the main news by now from the Spring Budget. Now comes the next stage:the Spring Finance Bill. The bill was published on 14 March, ensuring that the measures announced in the Budget take their next steps towards becoming reality. Whenever a government announces new taxation in a…Read More

  • Plans to close HMRC helpline for half a year halted

    Newsletter issue – April 2024 You may have seen somewhat of a furore breaking out in the media towards the end of the month, as HMRC announced its tax helpline would shut down for half of the year. Rather than use the phone line, anyone seeking help from HMRC officials would be faced with using…Read More

  • Bumper IHT receipts set to be new record high

    Newsletter issue – April 2024 We‘ve seen plenty of speculation before the last two Budgets that Inheritance Tax would see major reforms. Yet nothing materialised. And the latest figures released by the Treasury show perhaps why there might be some reluctance to change the rules, with the amount of tax received hitting a record high.…Read More

  • Online live funerals receive VAT exemption

    Newsletter issue – April 2024 Funerals that are broadcast online for well-wishers unable to attend in person are becoming exempt from VAT. During the COVID pandemic, streaming  funerals became commonplace due to restrictions on the number of people gathering. Now, there has been an update to the rules around VAT which means any funerals shown…Read More

  • April Questions and Answers

    Newsletter issue – April 2024 Q: I’m a property owner, and I’m considering renting one of my houses out for people to use for vacations. What are the tax rules I need to understand? A: It‘s a timely question, and unfortunately for you, there was a change announced in the Budget that will mean you…Read More

  • April Key Dates

    Newsletter issue – April 2024 6th New tax year begins; new tax codes take effect. 6th Introduction of a new tax band (in Scotland only) named the Advanced rate. 6th High Income Child Benefit Charge (HICBC) threshold will rise. 6th Employee NICS cut from 10% to 8%; Self-employed NICS will go from 9% to 6%.…Read More

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