Latest Blogs

Is it the end of the non-UK domiciled tax regime?   In the Spring Budget, the Chancellor proposed to replace the taxation of non-UK domiciled (non-doms) regime with a modernised ‘UK residence-based’ regime that is simpler, fairer and more competitive, with effect from 6 April 2025.   The current tax regime The current tax regime…

The HMRC “Nudge Unit”, previously called the Behavioural Insights Team, was a department within the Cabinet Office that was tasked with improving government services and saving money by employing a blend of behavioural economics and psychology.  An example of this in practice is the so-called “nudge” letters (referred to by HMRC as ‘one-to-many’ letters) HMRC…

What could the changes to Audit exemption limits mean for you?   The government has recently announced changes to company law that will see company size thresholds increased by 50%. This is hoped to reduce complexity and additional burden for companies. These changes are intended to be in place for year ends commencing on or…

Beware of VAT refund fraud!   We have become aware of several recent cases where taxpayers’ bank account details have been amended on the HMRC portal, without their knowledge, so that VAT repayments have been fraudulently diverted to a third party.   It seems that HMRC have been acting on the basis of a fraudulent…

There continues to be an ongoing debate when buying a residential property to let out about whether to buy this personally or set up a limited company to own it. Unlike our sole trader v limited company comparisons for a trading business there is not a clear division based on profits. There are a lot…

If you’ve heard about the changes post 5 April 2024 and are wondering whether you need to re-register for Child Benefits, this is the blog post for you.   If you have been affected by the increase in the High Income Child Benefit Charge cap to £60,000, then you may need to restart your Child…

Are you thinking about planning ahead for retirement and want to find out more about Pension Contributions for directors?   When it comes to planning for your retirement, Company pension contributions can offer significant benefits in terms of reducing your company’s Corporation Tax bill. Here’s how you can use both personal and company contributions to…

The new Child Benefit changes came into effect on 6 April 2024, with families receiving up to £1,331 per year (for the first or only child), and up to £881 per additional child, increasing by £83.20 and £54.60 respectively on the year before. This is paid directly into your bank account every 4 weeks. There…

UK company size thresholds are set to increase, but what does this change for you?   In his recent economic speech on 18th March 2024, Rishi Sunak unveiled significant changes aimed at simplifying reporting requirements for businesses. Among these measures, he announced an increase in the thresholds used to determine company size.   Understanding Company…

The National Minimum Wage increase from April 2024 will be welcomed by many employees. The rise will take place from 1 April for the next pay reference period post increase.   Perhaps the biggest change of all is the abolition of the 21–22-year-old band. Employees reaching the age of 21 will now enjoy a pay…