A new report from the Public Accounts Committee (PAC) warns that the "temporary" digital services tax (DST) could stay in place longer than planned. The DST raised £358 million in its first year - 30% more than expected. However, the Treasury acknowledges that it is a...

HMRC has released guidance clarifying how it will phase in the abolition of the lifetime allowance (LTA) for pensions. As announced by Chancellor Jeremy Hunt in his Spring Budget 2023, the current £1,073,100 threshold on the LTA ended on 5 April. However, because the...

In his Budget speech in March earlier this year, Chancellor Jeremy Hunt kicked off the Government’s plan for growth with changes to business tax legislation, a key policy being ‘full expensing’. “It is a corporation tax cut worth an average of £9 billion a year for...

Expanding your property portfolio can help increase your financial security — but is now a good time to buy to let? As house prices start to fall and rents rise across the UK, 2023 may look like a good year to get your foot on the investment property ladder. However,...

The pension lifetime allowance (LTA), which limits the amount savers can contribute to their pensions without a tax charge, will be abolished, Chancellor Jeremy Hunt announced in his Spring Budget. Currently, people who save more than the current allowance level of...

The Government has extended the voluntary National Insurance deadline by an extra four months, meaning taxpayers now have until 31 July 2023 to make additional payments and help increase their state pension entitlement. The deadline for making additional National...

In his first Spring Budget as Chancellor, Jeremy Hunt announced a number of ‘investment zones’ across the country. The programme will provide 12 areas, split across England, Wales, Scotland and Northern Ireland, with £80 million in support and “put powers and money in...

Making Tax Digital for income tax self-assessment (MTD for ITSA) was originally set to roll out in 2018, but the road to personal tax digitalisation has been relatively rocky to date. While the Government successfully introduced MTD for VAT for returns starting on or...

Why it pays to save for retirement. Tax relief is one of the best features of using a pension to save for retirement. When you pay into your pension, some of the money that would have gone to the Government as tax goes instead into your pension pot, which can help...

Businesses at any stage in their life cycle can benefit heavily from creating and implementing a business plan. Not only is a business plan there to map out your goals and aspirations, but also to identify any financial risks and operational challenges you may...