How HMRC Is Watching Taxpayers in 2025 — And What It Means for You
The way HMRC checks up on taxpayers has changed dramatically over the past decade. It’s no longer just about the odd brown envelope arriving in the post — technology and data-sharing now give HMRC unprecedented reach. With Chancellor Rachel Reeves pushing HMRC to recover an additional £7.5 billion a year in unpaid tax by 2029, […]
What Is MTD ITSA, and How Will It Affect Self-Employed Individuals?
What Is MTD ITSA, and How Will It Affect Self-Employed Individuals? Making Tax Digital for Income Tax Self Assessment (MTD ITSA) is a major change in the way self-employed individuals and landlords in the UK manage and report their taxes. It’s part of the government’s initiative to modernize the tax system, making it more efficient […]
Stamp Duty Land Tax – why this will increase as house prices rise and what you can do to reduce it
Stamp Duty Land Tax (SDLT) receipts were somewhat skewed in the last year as the SDLT holiday for properties worth up to £500,000 was phased out on June 30, 2021, and the holiday for properties worth between £125,000 and £250,000 ended on September 30. These two deadlines resulted in a flurry of activity as people […]
IHT receipts up by £700m – but why you should see this as a ‘voluntary’ tax
IHT receipts up by £700m Inheritance tax (IHT) is one of the most hated taxes there is, mainly because for many people their estate faces a 40% tax rate which is higher than they would have paid during their lifetime. HMRC’s latest figures reveal there has been a £700m increase in IHT receipts in the […]
NI to increase by 1.25% – what you can do about it?
NI to increase by 1.25%from April to fund the Health and Care Levy – what you can do about it The Government is set to increase National Insurance Contributions NI to increase by 1.25% from April to fund the Health and Social Care Levy, and while this may be a laudable aim, it is going […]
ITSA registration
HMRC have published a call for evidence on the case for reforming the rules for registering for Income Tax Self Assessment (ITSA). The call for evidence is interested in hearing views on whether it would be beneficial to bring forward the deadline by which landlords and the self-employed must register for ITSA. Current rules Currently, […]
Paying employees early at Christmas
Under Real Time Information (RTI), you must report payments made to employees and associated deductions to HMRC on a Full Payment Submission (FPS) at or before the time at which you make the payment to your employee. However, special rules apply which modify this rule if you pay your employees earlier than usual over the […]