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Latest News

24 Nov 2024

Treasury rethinks non-dom tax status changes

There is concern that scrapping non-dom status could lead to wealthy individuals leaving the UK, undermining the expected revenue gains.

Treasury rethinks non-dom tax status changes

16 Nov 2024

IFRS 15 meets expectations despite challenges

The International Accounting Standards Board (IASB) has completed its post-implementation review of IFRS 15, the revenue recognition standard, concluding that it works as intended and provides valuable information for investors.

IFRS 15 meets expectations despite challenges

10 Nov 2024

UK house prices near record high

Mortgage rates boost confidence, but affordability remains an issue, with the average price reaching £293,399, just £108 short of the June 2022 peak.

UK house prices near record high

1 Nov 2024

Private school VAT could affect 55% of parents

The rising costs of private education, compounded by the introduction of VAT on school fees in January, are expected to impact more than half of children in private schools.

Private school VAT could affect 55% of parents

26 Oct 2024

Price of the average house increases in 2024

Demand rises, but supply keeps growth in check. Buyer demand has surged by 20% compared to the previous year, with new sales agreements rising by nearly 25%.

Price of the average house increases in 2024

17 Oct 2024

Tax hike fears trigger asset sell-offs

Investors brace for capital gains tax increase. This "frenzy" of activity comes as concerns mount that the Labour administration will increase taxes to address a £22 billion shortfall in public finances.

Tax hike fears trigger asset sell-offs

9 Oct 2024

Crypto investors urged to review tax obligations

The Chartered Institute of Taxation (CIOT) has emphasised the importance of accurate and up-to-date tax reporting for all crypto-asset owners.

Crypto investors urged to review tax obligations

4 Oct 2024

New HMRC advisory fuel rates

Updated fuel rates impact UK company-car drivers. These rates, which apply to petrol, diesel, LPG, and electric vehicles, are used to reimburse employees for business travel or repay the cost of fuel used for private travel.

New HMRC advisory fuel rates

30 Sept 2024

Businesses targeted for NMW compliance

Enforcement will focus on 11 specific regions: Belfast, Birmingham, Bradford, Cardiff, Cornwall, Cumbria, East Anglia, Glasgow, Liverpool, the North East, and Watford.

Businesses targeted  for NMW compliance

23 Sept 2024

HMRC cuts late payment interest rate

0.25% reduction for late and repayment interests. The Bank of England (BoE) cut the base rate to 5.0% on 1 August, the first reduction in over four years.

HMRC cuts late payment interest rate

12 Sept 2024

CGT take falls by £2.5 billion

Only 369,000 taxpayers paid CGT in 2023, resulting in a £2.5bn drop in revenue to £14.4bn.

CGT take falls by £2.5 billion

4 Sept 2024

Bank of England cuts interest rates

The vote to lower the interest rate to 5.0% was close, with five members voting in favour and four against.

Bank of England cuts interest rates

30 Aug 2024

Council tax debt crisis escalates

Debt charity StepChange reports a 50% rise in the average debt among its clients, from £1,146 in 2019 to £1,726 in 2023.

Council tax debt crisis escalates

22 Aug 2024

London ranked 8th most expensive global city

Soaring rents and inflation have driven the price surge as London now ranks eighth in the global cost-of-living index, one spot higher than last year.

London ranked 8th most expensive global city

13 Aug 2024

Labour's landmark election victory

Labour’s campaign pledged not to raise National Insurance, income tax, or VAT, yet it proposed significant tax reforms.

Labour's landmark election victory

6 Aug 2024

HMRC inheritance tax recovery soars

Targeted efforts yield high returns from unpaid IHT as HMRC recovers £285 million from 3,028 investigations.

HMRC inheritance tax recovery soars

28 Jul 2024

Media sector faces scrutiny from HMRC

A survey by RSM revealed that 40% of media firms had filed an R&D claim in the past year, but only 24% of these were approved without dispute.

Media sector faces scrutiny from HMRC

18 Jul 2024

Only 13% of bounce back loans paid off

£46.9 billion was lent during Covid under the scheme. While nearly three-quarters of borrowers are on track to repay, a significant £40.9bn remains outstanding.

Only 13% of bounce back loans paid off

9 Jul 2024

House prices rise slightly again

The average cost of a home now stands at £264,249, marking a 1.3% increase year-on-year.

House prices rise slightly again

30 Jun 2024

HMRC contacts pending ROR claimants

Provisional claimants are urged to make a valid claim by 31 January 2025.

HMRC contacts pending ROR claimants
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