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Are You Paying More Tax Than Necessary?   Making Tax Digital for Income Tax (MTD for IT) was introduced from April 2026. It will bring more landlords into scope over the next couple of years. Under Making Tax Digital for Income Tax, each individual reports their own share of property income. Landlords must understand who…

A Practical Guide to Protecting Family Wealth Many people worry about what will happen to their wealth after they are gone. Will their children use an inheritance wisely? Could family assets be lost through divorce, financial difficulties or future disputes? Understanding the benefits of a family trust can help address these concerns.   Despite a…

In a previous article, I highlighted the potential interaction between Inheritance Tax (IHT) and Income Tax where an individual dies aged 75 or over. Since then, further clarification has emerged regarding how the IHT liability will be apportioned between the deceased’s estate and pension benefits.   Whilst the overall tax burden remains significant, the effective…

Which pension provider you chose to use will dictate the type of pension you operate. Here’s a brief overview of the main types of pension on offer.   Relief at Source (RAS) As used by the more traditional pension companies and also mainly used by Nest and People’s Pension.   Contributions are deducted from pay…

Intercompany transactions often arise when working with UK subsidiaries of international groups.   For many UK subsidiaries, these transactions are part of day-to-day business and can take many forms such as: Management costs recharged from parent company to UK subsidiary One group company settling an invoice on behalf of another Intercompany loans Payroll and staff…

HMRC has announced changes to the approved mileage allowance payment (MAP), which can be backdated to the start of the 2026-27 tax year. Rates have: Increased to 55p per mile for first 10,000 miles Remained at 25p per mile after 10,000 miles   The NI contributions disregard for Relevant Motoring Expenses have also increased to…

Many charities are required to file a tax return. Some are required to do so because their non-primary purpose trading income exceeds the small trading exemption limits, whilst others may receive a notice to file from HMRC. In either case, where a registered charity or Community Amateur Sports Club (CASC) submits a corporation tax return,…

For over 10 years now, many Government contracts (where valued over £12k) are advertised via a bespoke online portal: https://www.gov.uk/contracts-finder   From a quick search today, there are nearly 700 opportunities on there, ranging in value, in sectors as diverse as from taxi driving to construction.   As well as performing one-off searches, rather helpfully,…

This is a reminder that the new £30 million Farmer Collaboration Fund opens on 1st September 2026, so it’s time to get those applications sorted ready to apply.   If you are considering submitting an application, please read the official rules and criteria before doing so: https://www.gov.uk/government/publications/farmer-collaboration-fund/farmer-collaboration-fund-applicants-guide   Please note that applications close on 30th…

HMRC Opens MTD for IT Exemption Application Window for Those Joining MTD for IT in 2027   HMRC has opened the application process for taxpayers who may qualify for an exemption from Making Tax Digital for Income Tax (MTD for IT) and who are due to join the regime from 6 April 2027. This applies…