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Reversing the previous Government's u-turn on the tax treatment of double cab pick-ups, they will revert to being treated as cars for certain taxation purposes from April 2025
If you purchase a double cab pick-up with a payload of one tonne or more before 1 April 2025 for corporation tax, or 6 Ap...
Certain types of company are not eligible to apply the small profits rate for corporation tax, regardless of their profit levels.
On 1 April 2023, the main Corporation Tax (CT) rate was increased from 19% to 25%. A small profits rate of 19% was introduced for companies with profits below £50,000...
HMRC has published draft legislation explaining how the abolition of the special tax rules for furnished holiday lettings (FHLs) will work.
From 6 April 2025 for sole traders and partnerships, or 1 April 2025 for companies, properties currently classed as FHLs will no longer benefit from tax reli...
The requirement to report detailed employee hours will be pushed back until at least April 2026
HMRC has delayed planned changes to real-time information (RTI) reporting requirements for employee hours worked.
Draft legislation was published in May aimed at improving the range of data collecte...
From April 2026, sole traders and landlords with qualifying income over £50,000 will have to comply with the Making Tax Digital (MTD) for Income Tax requirements.
Quarterly updates
Mandated taxpayers will need to use third party MTD-compliant software to keep digital records and file quarterly...