Rob Perrins, executive chairman of housebuilder Berkeley Group, has urged the Bank of England to reduce interest rates to 3% by March. He argues that the current rates are too high and hinder economic growth. Mr Perrins noted that speculation around tax hikes ahead of the recent Budget had dampened demand for new homes. He...
With savers potentially facing tax charges on cash held in stocks and shares ISAs, investment experts have urged Chancellor Rachel Reeves to reconsider the reforms. The recent Budget reduced the cash ISA allowance to £12,000 while maintaining the stocks and shares limit at £20,000. Experts have voiced concern that temporary cash holdings could lead to...
HMRC is sending letters to taxpayers who it believes should ensure that any legal interpretation applied in a tax return or other document sent to HMRC is ‘correct in both fact and law’ as set out in its Guidelines for Compliance 13. HMRC says that where the taxpayer has relied on a particular interpretation of the...
A GBP1.237-million payment made to an employee under his employer’s long-term incentive plan was taxable as employment income even though it was paid after he had permanently left both the company and the UK, the Upper Tax Tribunal has ruled. It found that it did not matter that the employment was not held when the...
The government has confirmed that the new carried interest tax regime will not catch non-UK resident individuals who spend fewer than 60 days in the tax year performing investment management services in the UK. Non-UK resident investment managers may also be entitled to relief under a double taxation treaty if they do not have a...
The UK’s Autumn Budget revealed a series of enhancements to allow more companies to benefit from the enterprise management incentive (EMI) scheme. From April 2026, the eligibility criteria will be expanded to include companies with up to 500 employees and gross assets of up to GBP120 million (previously 250 employees and GBP30 million). The total...
From April 2026, employees will no longer be able to claim tax relief on expenses for working from home. Employers can still reimburse employees for these costs, where eligible, without deducting income tax and National Insurance contributions. The policy is a response to an increase in claims where the employees were not eligible for relief....
High-net-worth taxpayers are receiving letters from HMRC asking them to check they meet the criteria for foreign tax credit relief under relevant double tax agreements, before making a claim in their self-assessment tax return for 2024/25. Disclaimer The information on this Blog is for general purposes only on matters of interest. The Company assumes no...
A growing concern is emerging among small business owners, as government tax reforms could inadvertently force 15,000 family-run businesses into closure. A recent warning highlights the potentially devastating impact of proposed pension tax changes, particularly those involving Inheritance Tax (IHT) and the treatment of family business assets. Understanding the Pensions Tax Raid At the heart...
Why VAT Needs a Fresh Look The UK’s Value Added Tax (VAT) system, first introduced in 1973, has become increasingly complex. With thousands of exceptions and outdated thresholds, businesses often find compliance time-consuming and costly. A VAT reform is long overdue—not just to simplify administration, but also to ensure fairness and efficiency for both small...
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Copyright by CareAccountancy. All rights reserved.
