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Overview From 6 April 2025, pensioners with total income exceeding £35,000, and who are not in receipt of a qualifying benefit, will be required to repay their Winter Fuel Payment (or Pension Age Winter Heating Payment in Scotland). HMRC have outlined steps to be taken for individuals affected by this.   Where a Charge is…

How Geopolitical Events Influence Global Stock Markets – And Why Staying Invested Often Wins Global markets dislike surprises. Whether it’s a sudden conflict, a major election upset, trade tensions, sanctions, or diplomatic breakdowns, geopolitical events inject uncertainty – and uncertainty is the fuel that drives market volatility. Investors see headlines, markets wobble, and the instinctive…

What is the Foreign Income and Gains (FIG) regime? The 2024 Spring Budget stated there would be changes to the domicile-based system of taxation from 6 April 2025 . From this date, the Remittance Basis was abolished, and a new approach adopted based on residence. We now know this to be the FIG regime.  …

The Government has announced £47 million of funding to be used to protect and improve peatlands in England. As peatlands sequester significant amounts of carbon this will help reduce the country’s carbon emissions, as well as protect rural communities from flooding and wildfires.   Currently, the majority of the peatlands in England are dry and…

The government has unveiled a package of proposed tax and customs reforms designed to reduce administrative burdens, improve fairness and certainty, and modernise HMRC’s systems. Whilst many of the measures are currently open to consultation, they provide a clear indication of the government’s direction and are worth keeping on the radar. What are the Proposed…

The first quarter for Making Tax Digital has ended and it is time to make that first submission. The first quarter ending 30th June/ 5th July 2026 has ended now and your first submission is due to be submitted to HMRC by 7th August 2026.   Do I need to make a submission? If you…

We now have enough data to re-assess the 2026 financial health of our SME business clients. (data source) Following the April 2025 double inflation increases in National Minimum Wage and higher Employer’s NIC rates, SME’s have had new ‘un-controllables’ to deal with. As business owners try to re-balance their books, all of these additional payroll…

Key Points What is the issue? Making Tax Digital (MTD) for Income Tax will require self-employed individuals and landlords to maintain digital records and submit quarterly updates to HMRC, where relevant criteria are met, with effect from 6th April 2026.   What does it mean for me? Much of the discussion has focused on compliance…

Last reminder for 31st July 2026 2nd Payment on Account for Self Assessment   The forthcoming Self Assessment payment date of 31st July 2026 is just over a month away. HMRC last increased the late payment interest rate to 7.75% on 28th May 2026 and this applies to the tax becoming due at the end of…

On Monday 15th June, HMRC announced that, once again, there is a delay in the wholesale mandatory implementation of payrolling benefits. Instead, we will see a phased-in approach beginning April 2027. Some will see this as a sensible move giving more time for software providers to prepare the necessary digital fields within the payroll software…