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Tax

HMRC Targets Side Hustle Income

HMRC has launched a fresh summer campaign reminding people with “side hustles” that extra income may need to be reported for tax purposes. The announcement specifically highlights people earning income from wedding services, online selling, content creation, freelancing and similar activities. The key figure remains the £1,000 trading allowance. If total income from side activities […]

Read more September 24th, 2026

HMRC’s 2026 Tax Update

Before Andy Burnham became Prime Minister and the appointment of John Healey as Chancellor, HMRC published a raft of consultations and policy announcements on 23 June 2026. The wide-ranging package of consultations and policy announcements was aimed at making the tax system simpler, more digital and, in HMRC’s words, fairer. While many of the proposals […]

Read more September 22nd, 2026

Questions Over Future Tax Changes Under New Prime Minister

Since becoming Prime Minister, Andy Burnham has made cost-of-living support a key focus. One headline measure announced this month is the planned removal of VAT on household electricity from October 2026, which the Government estimates could reduce average household bills by around £45 a year. Household electricity is currently subject to VAT at 5%. At […]

Read more September 16th, 2026

Making Tax Digital For Income Tax – First Quarter Statistics Published

Under Making Tax Digital (MTD) for Income Tax, sole traders and landlords with income of more than £50,000 have been required to keep digital records and send quarterly updates to HMRC since 6 April 2026. The first quarterly submission deadline, covering the first three months of the 2026-27 tax year, passed on 7 August 2026. […]

Read more September 14th, 2026

Do You Need To Pay Tax On Your Side Hustle?

Those who have turned their hobby into a side hustle are being reminded by HMRC that their income from these activities may be taxable. With wedding season in full swing, some may be making some extra income from selling wedding stationery, filming a first dance or cake-making. Tax rules mean that if you earn more […]

Read more August 25th, 2026

Update On Government’s Small Business Plan

The Government has published a one-year-on update to its Small Business Plan, which is intended to support small and medium-sized businesses to start, scale and grow. Key highlights from the report include: Late payment The Small Business Protections Bill was laid before Parliament in May 2026. The new legislation includes stricter maximum payment terms, mandatory […]

Read more August 10th, 2026

Making Tax Digital For Income Tax – Now In Force

Making Tax Digital (MTD) for Income Tax is now live, having come into force from 6 April 2026. This marks a significant shift in how self-employed individuals and those with income from property report their income to HMRC, and it is already impacting a substantial number of taxpayers. The new regime currently applies to those […]

Read more April 28th, 2026

Renters Rights Act: Possible SDLT Consequences For Tenants

Update 24 April 2026: The Government has released a statement saying that they will work on legislation so that no one is newly brought into SDLT as a result of the Renters’ Rights Act. This new legislation will work retrospectively to 1 May 2026. To read more about this, you can see the Government statement […]

Read more April 6th, 2026

Spring Statement 2026 Summary

The Chancellor, Rachel Reeves, held the Spring Statement on 3 March 2026. The government has been keen to have only one tax event per year (the Budget) and so the Spring Statement was intended to provide an interim update on the economy and public finances. Whilst the Chancellor did meet the commitment not to make […]

Read more March 4th, 2026

Dealing With HMRC

Late filing penalties for corporation tax returns are set to be doubled for returns where the filing date is on or after 1 April 2026. Filing a corporation tax return late will now result in a £200 penalty, which will increase to £400 if the return is more than 3 months late. Where the deadline […]

Read more December 11th, 2025

Inheritance Tax Update 2025

Inheritance Tax (IHT) can apply to certain lifetime transfers/gifts and also on the value of an individual’s estate at the time of death. The IHT nil rate band is £325,000, with an additional £175,000 ‘residence nil rate band’ available in some cases for leaving the family home to direct descendants. For any value remaining after […]

Read more December 10th, 2025

Capital Gains Tax Update 2025

As we head into 2026/27, it should be remembered that, for most sales of capital assets, CGT will apply at 18% for basic rate taxpayers and 24% otherwise. The rate of CGT for business asset disposal relief (BADR) purposes will increase from 14% to 18% from 6 April 2026. Particularly in relation to business disposals, timing […]

Read more December 9th, 2025

Tax On Income Update 2025

Your tax-free personal allowance will remain at £12,570 in 2026/27. The personal allowance is partially withdrawn if your income is over £100,000 and then fully withdrawn if your income is over £125,140. Income tax rates and allowances For 2026/27, the income tax thresholds are unchanged from 2025/26 and are set to remain static until 2030/31. […]

Read more December 8th, 2025

Budget Summary Autumn 2025

Chancellor of the Exchequer Rachel Reeves set out tax-raising measures worth up to £26 billion in the Autumn Budget on 26 November 2025. The increases will be achieved through a range of measures, including extending the freeze on Income Tax thresholds for a further three years. Tax increases In addition to maintaining Income Tax thresholds, taxes […]

Read more November 27th, 2025

HMRC’s Transformation Roadmap

On 21 July 2025, HMRC launched their Transformation Roadmap, which sets out ambitious plans for HMRC to become a digital-first organisation by 2030, with 90% of customer interactions taking place digitally. This compares to 76% as at today. HMRC will automate tax wherever possible and offer new digital self-serve options across a number of tax regimes. […]

Read more August 4th, 2025