For years, rental income has been taxed in the same way as most other forms of income. If you were a basic rate taxpayer, you paid 20%. Higher rate taxpayers paid 40%, and additional rate taxpayers paid 45%. However, from 6 April 2027, that is set to change significantly. The government has introduced a completely […]
The government has opened a consultation on the details for the High Value Council Tax Surcharge (HVCTS) that is expected to come into force in England from 1 April 2028. HVCTS will apply to owners of residential properties in England worth £2 million or more and is payable in addition to the existing Council
Consultation launched on details for High Value Council Tax Surcharge Read More »
What is changing first? A new website has been launched by the Department for Business and Trade (DBT) offering practical guidance and support on the changes that the Employment Rights Act will introduce and what they can do to get ready. The website provides details of upcoming changes, including several that come into force
What does the OBR’s latest forecast mean for you? During a week dominated by news of the Middle East conflict, on 3 March 2026, Chancellor Rachel Reeves presented the Spring Forecast to Parliament. The Chancellor told MPs she had “restored economic stability” as she presented the Office for Budget Responsibility’s (OBR’s) economic forecasts. The
Spring Forecast Scheduled for 3 March 2026 Will there be any changes to tax policy? The Chancellor, Rachel Reeves, has requested the Office for Budget Responsibility (OBR) to publish an economic and fiscal forecast on 3 March 2026. This will be accompanied by a statement to Parliament. As set out in the Budget, the
Targeted valuation exercise to be carried out in 2026 The government has announced plans to introduce a new levy, the High-Value Council Tax Surcharge (HVCTS), for owners of residential properties in England valued at £2 million or more. The surcharge is expected to come into effect in April 2028. A public consultation on the details
Are You Ready? The Self Assessment deadline for filing your 2024/25 tax return is fast approaching. You must submit your return and pay any tax due by 31 January 2026 to avoid penalties and interest. To meet the deadline, you will need to make sure you have: All income details, including any employment, pension, self-employment,
Is it time to review your business’s cash reserves? The Prudential Regulation Authority (PRA) has confirmed that the Financial Services Compensation Scheme (FSCS) deposit protection limit increases from £85,000 to £120,000 from the start of December. The new threshold applies per depositor, per PRA-authorised bank, building society or credit union. The PRA have confirmed
FSCS Deposit Protection Limit Rises to £120,000 from December Read More »
The Charity Sector Risk Assessment, released by the Charity Commission, highlights a range of challenges currently facing charities across England and Wales. Drawing on annual returns, serious incident reports and regulatory casework, the assessment offers a clear picture of a sector under increasing pressure. This report breaks down the key findings and provides practical guidance
Charity Commission Warns on Key Risks for Charities Read More »
Following the resignation of Angela Rayner from Government due to underpaying Stamp Duty Land Tax (SDLT) on her £800,000 flat, it reminded us all of one thing: the UK property tax system is a minefield. Whether you agree with the politics or not, it’s a great case study in how even seasoned public figures can
Stamp Duty and the Tax Implications of Buying a House: Lessons from Angela Rayner Read More »
