The UK tax system is moving towards a fully digital future, and MTD Compliance is at the centre of this transformation. HMRC is encouraging taxpayers, landlords, self-employed individuals, and business owners to prepare early by understanding the upcoming requirements and adopting digital systems before compliance becomes mandatory. While some taxpayers may still think there is...
Eligible couples may be able to increase their tax-free Personal Allowance to £13,830 by claiming Marriage Allowance and backdating their application. Claims can be backdated for up to four years, potentially resulting in a tax rebate of up to £1,260. To qualify, one partner must earn below £12,570, while the other must be a basic...
Changes to inheritance tax relief announced in the October 2024 Budget are causing concern among farming groups. From April, agricultural property relief and business property relief will be capped at £1m per estate, with assets above that level subject to a 20% effective IHT rate. Although the Government has since increased the combined relief threshold...
A record 66,587 buy-to-let companies were formed in 2025 — an 8% rise on the previous year and the highest figure in a decade. In total, there are now 443,272 active buy-to-let companies, five times more than in 2016. The shift reflects frozen income tax thresholds and higher mortgage rates, which have reduced profitability for...
The Government’s proposed visitor levy could add more than £100 to the cost of UK holidays, prompting criticism from business leaders and politicians. Opponents argue the levy would increase costs for families and potentially discourage tourism. Hospitality firms have expressed concern about the impact on competitiveness and consumer demand. The proposal forms part of wider...
Companies taken private from the London Stock Exchange are increasingly using borrowing to fund dividend payments to private equity owners. Over the past five years, $2.7bn in debt-funded dividends have been paid. Industry analysts say debt-for-dividend strategies are becoming more common as investors seek cash returns. However, such arrangements are typically more sustainable in businesses...
Why data protection changes matter now Recent data protection changes have introduced important updates that organisations across the UK need to be aware of. Whether you run a business, charity, or professional practice, handling personal data correctly is no longer just best practice—it is a legal requirement. These updates aim to modernise existing rules, clarify...
Household energy bills are expected to rise over the coming years after Ofgem approved major investment in the UK’s energy infrastructure. The funding will be used to upgrade electricity networks and gas pipelines, supporting future demand and renewable energy projects. While the regulator says the investment should reduce long-term costs by improving efficiency, consumers are...
Retailer Mothercare has warned that its future is uncertain after breaching the terms of an emergency loan agreement. The announcement led to a sharp fall in the company’s share price. Recent financial results showed a significant drop in sales and revenue, while outstanding debt remains high. The company has acknowledged that there is material uncertainty...
HMRC has lowered the interest charged on late self assessment tax payments, reducing the rate from 8% to 7.75%. The change reflects the link between late payment interest and the Bank of England base rate. Taxpayers who miss the 31 January deadline still face fixed penalties, followed by daily charges and further percentage-based penalties if...
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Copyright by CareAccountancy. All rights reserved.
