Does your business use cryptocurrencies and non-fungible tokens (NFTs)? Greater scrutiny is now on reporting all crypto transactions. HM Revenue & Customs (HMRC) confirmed from 2024-25 self-assessment tax return forms will feature a new segment to declare any gains from crypto assets for individuals and trusts.  Greater security The heightened scrutiny of crypto-asset holders becomes

Announced in the Spring Budget, the Lifetime Allowance (LTA) abolition releases people to save as much as they like in their pension schemes.  The LTA limits how much people can build up their pension pots over a lifetime whilst benefiting from tax incentives.  The previous threshold was £1,073,100. Anything over that was subject to a

From 1 March 2023, company car drivers will see changes to the amount they can claim back for fuel costs from their employer. HM Revenue & Customs (HMRC) has also confirmed that calculating advisory electricity rates (AER) is changing to better reflect energy prices, particularly with soaring electricity costs, when reviewed quarterly. Previously it has

Businesses must plan for the rise in Corporation Tax (CT), coming into force from 1 April 2023, and sees the top rate of tax rising from 19% to 25% The tax applies to all profitable limited companies – from trading income or the sale of investments or assets. The new approach to Corporation Tax After

You must check your National Insurance (NI) records to identify any payment history shortfalls if you plan to claim the UK state pension.  NI contributions, or lack thereof, can affect a person’s entitlement to the state pension in later life. A temporary window allowing people to voluntarily top up their NI contributions as far back

Just a few days short of the third anniversary of the first Covid lockdown, Chancellor Jeremy Hunt rose to the Despatch Box to deliver the first full Budget to have taken place in 504 days and the first unaffected by the immediate impact of the pandemic since October 2018.