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HMRC has updated its guidance to clarify the treatment of subcontracted research and development (R&D) expenditure under the SME scheme

HMRC has updated its guidance to clarify the treatment of subcontracted research and development (R&D) expenditure under the SME scheme

When R&D work undertak...

From April 2026 most benefits in kind (BIKs) will have to be processed through the payroll and included on monthly payslips, with a potential knock-on effect for student loan repayments

The mandatory payrolling of BIKs will be implemented in phases, starting from April 2026.

The earnings thres...

From August 2025 employed taxpayers will no longer be required to complete a self assessment tax return (SATR) to declare and pay the high-income child benefit charge (HICBC)

The HICBC is a tax charge paid by the higher earning parent which claws back up to 100% of the child benefit claimed by ei...

The sunset clause which was set to end the Enterprise Investment Scheme (EIS) and Venture Capital Trust (VCT) scheme on 5 April 2025 has been extended for a further ten years

The schemes, which offer tax relief for individuals investing in qualifying small and medium-sized companies including st...

As announced in the Autumn Budget, the national minimum wage (NMW) and the national living wage (NLW) are set to increase from April 2025

The hourly rate will depend on the worker's age and whether they are an apprentice.

The NLW applies to workers aged 21 and over, while workers of school lea...