MTD for Income Tax: Is Your Record-Keeping Ready for Quarterly Reporting?
The introduction of Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) marks a significant change for self-employed individuals and landlords with certain levels of qualifying income. Businesses…
Read more
P11Ds Filed? Don’t Forget Your Class 1A NIC Payment
P11Ds were due for submission on 6 July. However, once benefits and expenses have been reported to HMRC, employers must also ensure that any Class 1A National Insurance Contributions (NICs)…
Read more
Could Your Retirement and Estate Plans Benefit From a Fresh Review?
Retirement planning in the UK is becoming increasingly complex with major changes to pensions, inheritance tax and the wider fiscal framework. Planning for the future, and for the next generation,…
Read more
Over 110,000 taxpayers yet to register for MTD
More than 110,000 unrepresented taxpayers who must register for Making Tax Digital (MTD) from April 2026 have still not done so, according to the Low Incomes Tax Reform Group (LITRG).…
Read more
Expansion of ‘uncertain tax treatment’ rules cause for concern
Government plans to extend the rules requiring some taxpayers to declare ‘uncertain’ tax positions risk creating more uncertainty, compliance burdens and tax disputes according to the CIOT. The uncertain tax…
Read more
Phased rollout of payrolling for employee benefits a ‘welcome step’
The decision to phase in the mandatory payrolling of benefits in kind is a ‘welcome step’ to allow employers and payroll software providers more time to prepare for significant changes,…
Read more
HMRC failing on responsiveness, says Charter report
HMRC is failing on the key metrics of responsiveness, ease and accuracy, according to the annual HMRC Charter report. The report reviewed HMRC’s performance against its Charter from April 2023…
Read more
HMRC sends ‘nudge letters’ to crypto investors
HMRC has ‘sent nudge’ letters to crypto investors who it suspects have failed to pay the correct tax on their gains, according to the Chartered Institute of Taxation (CIOT). Many…
Read more
HMRC late payment interest cut
HMRC has reduced late payment and repayment interest rates following the cut to the base rate. The Bank of England cut the base rate to 5.0% on 1 August, the…
Read more
Scrap fuel duty cut, says RAC
The 5p cut in fuel duty to be scrapped in the upcoming Autumn Budget, according to the RAC. The motoring organisation says that motorists in the UK are ‘not gaining any…
Read more
Freelancers want to see fairer, simpler tax system from Autumn Budget
Freelancers want to see Chancellor Rachel Reeves use the Autumn Budget to move towards a fairer, simpler tax system, according to the Association of Independent Professionals and the Self-Employed (IPSE).…
Read more
UK has record number of self-employed workers aged 60 or over
The number of self-employed people aged 60 or over has reached a record level, according to analysis by Rest Less. These numbers have increased by over a third in the…
Read more
MTD for Income Tax: Is Your Record-Keeping Ready for Quarterly Reporting?
The introduction of Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) marks a significant change for self-employed individuals and landlords with certain levels of qualifying income. Businesses…
Read more
P11Ds Filed? Don’t Forget Your Class 1A NIC Payment
P11Ds were due for submission on 6 July. However, once benefits and expenses have been reported to HMRC, employers must also ensure that any Class 1A National Insurance Contributions (NICs)…
Read more
Could Your Retirement and Estate Plans Benefit From a Fresh Review?
Retirement planning in the UK is becoming increasingly complex with major changes to pensions, inheritance tax and the wider fiscal framework. Planning for the future, and for the next generation,…
Read more
Autumn Budget 2025
The Chancellor, Rachel Reeves, presented her 2025 Budget to Parliament on 26 November 2025. She made it clear that this would be an Autumn Budget that focused on fairness, with…
Read more
FW Smith Riches & Co Recognised for Client Service Excellence
FW Smith Riches & Co, a London-based firm of ICAEW Chartered Accountants with roots dating back to the 1880s, has been shortlisted for the Client Service Award (Medium and Large…
Read more
Spring Statement 2025
Chancellor Rachel Reeves delivered the Spring Statement on Wednesday 26th March 2025, outlining the economic priorities of the Labour Government and reaffirming a commitment to fiscal discipline and long-term investment.…
Read more
