By Luke Photi, White Hart Associates Practice Manager and Head of MTD The government’s plans to digitise the tax system are set to have a big impact on sole traders, self-employed businesses and landlords in the UK and overseas. We assess what the changes mean for them. Her Majesty’s Revenue and Customs (HMRC) is rolling…
Following the publishing of our 25/26 Tax Planning Document, Nikki Spoor, Travel, Audit and Tax Director at White Hart Associates comments on some of the changes that are coming and what you can do to soften the blow of the recent Autumn Budget. The autumn budget delivered by Chancellor Rachel Reeves contained a raft…
By Nikki Spoor, Travel, Audit and Tax Director, White Hart Associates A little-known change to the rules on when you can claim tax credits for research and development (R&D) could lead to companies missing out on substantial sums of money. Any firm making an R&D claim for the first time used to have 24 months…
By Nikki Spoor, White Hart Associates Travel, Audit and Tax Director The new Labour government launches its much-anticipated autumn budget on October 30th. A rise in income tax, National Insurance or VAT have already been ruled out, so how will the government raise finances? Here we look at the possibilities. Capital Gains Tax (CGT)…
UK likely to avoid recession amidst announcement of tax reliefs The Chancellor of the Exchequer presented his Spring Budget to Parliament today. In doing so, it seemed he was not only hoping to shake off the unpredictability of his predecessors, but to establish stability — and indeed growth — within the UK economy.…
Last remaining few weeks to boost your State Pension by paying for any missing National Insurance years As you may be aware, the importance for everyone to check their National Insurance contributions record has arisen due to impending changes on what years contributions can be purchased by 5 April 2023. Essentially, it is highly recommended…
Amidst the backdrop of an economy in recession and struggling with the consequences of record inflation levels, Chancellor Jeremy Hunt delivered his Autumn Statement today. Clarifying the Government’s economic focus after the confusion following the Mini Budget U-turns, the Chancellor championed the Government’s three economic priorities; stability, growth and public services. In practical terms, Chancellor…
Newly appointed Chancellor of the Exchequer, Jeremy Hunt made an emergency statement in an attempt to calm the financial markets. Just three weeks after the mini-Budget was announced, vast swathes of its policies have now been redacted by the new Chancellor. Tax cuts scrapped includes the promised cut in the basic rate of income tax;…
Rishi Sunak, the former Chancellor announced in May of this year a range of measures to help reduce the impact of the anticipated “October 2022 Ofgem utility price cap increase”. The announcement followed an earlier assistance package revealed in February, ahead of the April 2022 Ofgem price cap increase from £1,277 to £1,971. Sunak’s measures,…
By Becky O’Flynn, MTD Manager at White Hart Associates HM Revenue & Customs have published guidance on the introduction of the new penalty regime which will be effective from January 2023. The changes were deferred from April 2022 to grant HM Revenue & Customs more time to make the necessary system changes. Essentially, these…
