An important consideration when selling your business is whether business asset disposal relief (BADR) will be available to minimise the capital gains tax (CGT) cost. BADR will be less advantageous from April 2026, so company owners may be looking to sell sooner rather than later. BADR is currently at a flat rate of 14%, which […]
Companies that may have miscalculated their corporation tax marginal relief may receive a letter from HMRC as part of a new campaign. The targeted errors could be due to ignoring associated companies. Associated companies Directors will be aware that the first £50,000 of their company’s profit benefits from a corporation tax rate of 19%, compared […]
HMRC has tightened checks on pension relief after finding that a third of claims made by PAYE tax codes were incorrect. The problem Contributions into a personal pension are made net of basic rate tax, so only higher and additional rate taxpayers need claim relief. However, HMRC’s review found that many basic rate taxpayers were […]
Shortly before Parliament closed for its summer holidays, the government announced a review of the State pension age (SPA). Pensioners are a sensitive topic for the government. Not only has it been forced to make a U-turn on winter fuel payments, but it has also had to stand firm against the Women Against State Pension […]