Tax Insights

HMRC has reported a low initial registration level for its new income tax regime, signaling widespread hesitation or lack of awareness among self-employed individuals and landlords. A little over 11 years after ‘Making Tax Easier’ was first announced in the March 2015...

The government has announced an interest rate cap for some student loans. However, the reality of this protection is not all it seems. Following Easter, the Department for Education (DfE) announced a 6% interest rate cap on Plan 2 and Plan 3 student loans. The DfE...

Further details have emerged about the potential impact of the ‘mansion tax’ announced in the last Budget. Rachel Reeves’ first two Budgets have so far featured announcements of tax-raising measures with delayed starting dates. For example, the controversial changes...

Weighing Up the Incentives and Disincentives of Your Tax Bill Just how much is the current tax landscape disincentivising you? The latest Economic and Fiscal Outlook from the Office for Budget Responsibility (OBR) recently shared some disconcerting insights that every...

Are you inadvertently leaving money on the table when you contribute to your pension? A recent "Supplementary forecast information release" from the Office for Budget Responsibility (OBR) regarding the future of National Insurance and salary sacrifice may sound like a...

The start of the new tax year on 6 April (which falls on Easter Monday this year) brings a series of significant adjustments to the UK’s fiscal landscape. From shifts in investment incentives to the way you report income, these changes may have a direct impact on your...

If you have recently received a new tax code, it is important to review it carefully. Many taxpayers assume their code is correct, but mistakes can and do happen—sometimes leading to significant overpayments of income tax. Millions in Overpaid Tax A recent Freedom of...

Many taxpayers who could be affected by upcoming changes to tax reporting are still unaware of what lies ahead. Communication challenges have historically made it difficult for taxpayers to stay informed, and with the introduction of Making Tax Digital (MTD), there is...

A Revised Fiscal Calendar The 2024 Budget Changes The 2024 Budget reshaped the Chancellor’s fiscal timetable. Key adjustments include: The Office for Budget Responsibility (OBR) will now publish only one full assessment per year, aligned with the Autumn Budget The...

The long-term consequences of governments repeatedly freezing the income tax personal allowance are starting to become more visible — and for many, the results may be unexpected. How We Got Here: Personal Allowance vs State Pension Looking Back to 2016 On 6 April...

Gilts Back in the Spotlight As the Autumn Budget approaches, government bonds are coming back into the spotlight. Why Are They Called Gilts? In what can seem like an effort to confuse, government bonds are often referred to as gilts. There are two good reasons for the...

A Costly Oversight in Stamp Duty Land Tax In early September, former Deputy Prime Minister and Housing Secretary Angela Rayner resigned after discovering she had underpaid £40,000 in Stamp Duty Land Tax (SDLT) on the purchase of her flat in Hove. Her situation serves...