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
Advisory fuel rates for company cars
New company car advisory fuel rates have been published and took effect from 1 September 2024. The guidance states: ‘you can use the previous rates for up to one month from…
Read more
Latest guidance for employers
HMRC has published the latest issue of the Employer Bulletin. The August issue has information on various topics, including: electronic payment deadline falls on a weekend P11D and P11D(b) for…
Read more
Chancellor takes difficult decisions as Budget date set
Contractors have become frequent targets of tax avoidance schemes over recent years. To combat this, HMRC has published a list of named tax avoidance schemes, promoters, enablers, and suppliers to…
Read more
King’s Speech pledges to secure economic growth
The first King’s Speech since Labour’s victory in the General Election saw the new government pledge that securing economic growth would be its fundamental mission. King Charles III delivered the…
Read more
HMRC launches VAT Registration Estimator
HMRC has launched a digital tool to help businesses estimate what registering for VAT may mean for them. The VAT Registration Estimator helps to show businesses when their turnover could…
Read more
UK announces National Wealth Fund
The UK government is planning a National Wealth Fund to stimulate private sector investment backed by £7.3 billion in funding through the UK Infrastructure Bank (UKIB). Chancellor Rachel Reeves and…
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
