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…
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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)…
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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,…
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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).…
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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…
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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,…
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UK Treasury to regulate cryptocurrency under new legislation
The UK will bring cryptocurrencies, including Bitcoin, into a regulatory framework with legislation due by 2027. The government says that firm and proportionate rules will give legal clarity over the…
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UK lenders agree £11 billion SME package
Five major UK banks have agreed a £11 billion lending package aimed at SMEs to support small business growth, the government has announced. The lending commitment is one of the largest collective moves by the banking sector in…
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Over 4,800 self assessment scams reported
More than 4,800 self assessment scams have been reported since February 2025, according to data released by HMRC. The tax authority says scammers are using persuasive and threatening tactics to…
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UK inflation will fall in 2026
The UK can expect to see big falls in the rate of inflation this year, according to the Resolution Foundation. The think tank’s prediction comes despite an increase in December…
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Government must ramp up its growth strategy, says think tank
Despite falling behind its peers the UK economy could be on the brink of a turnaround so the government must ramp up rather than run-down its growth strategy, says the…
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Inheritance Tax reliefs threshold to rise to £2.5 million for farmers and businesses
The level of the Agricultural Property Relief (APR) and Business Property Relief (BPR) thresholds will be increased from £1 million to £2.5 million, the government has announced. The change will…
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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…
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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…
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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.…
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