by admin | Jul 10, 2025 | Uncategorized
Capital Gains Tax on certain residential property sales must be reported and paid within 60 days to avoid penalties and interest. The annual exempt amount applicable to Capital Gains Tax (CGT) is currently £3,000. CGT is normally charged at a simple flat rate of...
by admin | Jul 10, 2025 | Uncategorized
As of April 2025, more employers can claim the increased £10,500 Employment Allowance thanks to relaxed eligibility rules. This increase will help employers reduce some of the impact of the recent increases in employers' NIC. The Employment Allowance...
by admin | Jul 10, 2025 | Uncategorized
Since 6 April 2025, the remittance basis of taxation for non-UK domiciled individuals (non-doms) has been replaced by the Foreign Income and Gains (FIG) regime. This shift marks a significant change, as the new FIG regime is based on tax residence rather than...
by admin | Jul 10, 2025 | Uncategorized
Employers must act now to meet the deadline for paying Class 1A NICs for 2024–25 to avoid HMRC penalties. These contributions are due by 19 July 2025 if paying by post, or by 22 July 2025 for electronic payments. Class 1A NICs apply to most taxable benefits...
by admin | Jul 10, 2025 | Uncategorized
The impact of frozen personal allowances often leads to fiscal drag, a situation where individuals pay more tax as their earnings rise without a corresponding increase in allowances. This occurs because tax thresholds remain fixed while wages increase, thus...
