New data from HMRC shows how much the government relies on just four taxes. Source: HMRC The Labour Party went into the 2024 general election with pledges on four major taxes in its manifesto: “Labour will not increase taxes on working people, which is why we will not increase National Insurance, the basic, higher, or […]
HMRC are having to remind taxpayers that there is no deadline extension if a VAT return submission date falls on a weekend or a bank holiday. Due date reminder The due date for submitting quarterly VAT returns is one month plus seven days after the end of the quarter. So, for the quarter ending 30 […]
The Chancellor has announced a 10p per mile increase for the tax-free mileage rates, which can be paid to employees using their own cars for business purposes, with the increase backdated to 6 April 2026. Mileage rates The 10p per mile increase only applies to the first 10,000 business miles driven each tax year. This […]
Anyone confused or anxious about the inheritance tax (IHT) changes being introduced for pensions needs to be aware that scammers might try to target their savings. Changes to pensions From 6 April 2027, inherited pension funds will be subject to IHT unless inherited by a spouse or civil partner. Not surprisingly, scammers are using the […]