As we enter the 2024/25 tax year, below is a list of key tax changes that came into effect from the 6th April 2024. Individuals The personal allowance remains unchanged at £12,570. The personal allowance is the amount of income a person can earn before paying tax. The...
If you are a man born after 5 April 1951 or a woman born after 5 April 1953, you have until 5 April 2025 to pay voluntary contributions to make up for gaps between tax years April 2006 and April 2016, if you’re eligible (see below). This extension to the deadline was...
In the Spring Budget 2024, the Government announced changes that will affect individuals who own a Furnished Holiday Let (FHL), effective from 6 April 2025. From this date, furnished holiday letting businesses will be treated in the same way as other property rental...
In the recent Budget on 6 March 2024, the Government announced that it intends to abolish the current tax treatment for UK resident, non-domiciled individuals (non-doms) from 6 April 2025. The non-dom regime has been part of the UK’s tax system for more than 200...
Vote-winning announcements are always expected from a Chancellor’s Budget in an election year. Despite the stagnant economy and limited fiscal headroom, Jeremy Hunt still announced a few tax cuts and other surprises. Please find to follow a round-up of Spring Budget...
This was a budget for jobs – Conservative Parliamentary jobs – and for some they already realise that it didn’t go far enough. But the facts are that the Chancellor has little opportunity to go further without grabbing the attention of the World as the Truss...
