Posts by Nettie Buss
HMRC to end letters in the post from March 2026
HMRC to end letters in the post from March 2026 HMRC have announced that to save in print and postage costs by £50m, letters will no longer be sent out automatically to taxpayers from next spring, with email alerts notifying them of new documents in their personal tax accounts or the HMRC app instead. This…
Read MoreHMRC cuts late payment interest rate to 7.75%
HMRC cuts late payment interest rate to 7.75% Following the recent cut in base rate, HMRC is going to reduce interest rates on late payments in the second week of January. HMRC interest rates for late payment and repayment will reduce by 0.25%. Late payment rates reduce to 7.75% from 9 January, while repayment rates reduce…
Read MoreHow did you spend Christmas Day?
How did you spend Christmas Day? In total, 37,435 people filed their personal tax return between Christmas Eve and Boxing Day, HMRC have advised. This suggests that for some, festive filing is becoming as much a tradition as watching the King’s Speech. However, the numbers were down on the previous year when HMRC received 40,072…
Read MoreBudget 2025 – Tax on savings increased by 2%
Budget 2025 – Tax on savings increased by 2% As part of the chancellor’s Budget, it was announced that a hike in the tax rate on savings income by 2% across all bands will come into effect from April 2027. This means savers will pay tax at 22% if they are basic rate taxpayers, and…
Read MoreKennedys Accounting Ltd becomes the First Odoo Silver Accounting Partner in the UK
Kennedys Accounting Ltd becomes the First Odoo Silver Accounting Partner in the UK Kennedys Accounting is proud to announce that we are now the first Odoo Silver Accounting Partner in the United Kingdom, marking a major milestone for both Kennedys Accounting and the UK Odoo community. This recognition makes Kennedys Accounting the largest provider of…
Read MoreBudget 2025 – Dividend tax up 2% from 2026
Budget 2025 – Dividend tax up 2% from 2026 From the next tax year in April 2026, the base and higher rates of tax on dividend income will increase by 2% to 10.75% for basic-rate taxpayers and 35.75% for higher and additional rate taxpayers. The current £500 of exempted tax-free dividend income will not change,…
Read MoreBudget 2025 – 3p mileage charge for EV’s
Budget 2025 – 3p mileage charge for EV’s EV drivers face a pay-per-mile tax on their annual mileage, which is due to be added to road tax and monitored at MOTs. The new tax on EV drivers from April 2028 will have a special electric vehicle mileage rate set at 3p per mile. But this…
Read MoreBudget 2025 – Homeworking tax relief abolished
Budget 2025 – Homeworking tax relief abolished An estimated 300,000 employees who work from home will be out of pocket after the abolition of £62 homeworking tax relief from April. In a minor announcement which appears to have gone under the radar, the government scrapped non-reimbursed homeworking expenses. This measure only applies to those employees…
Read MoreBudget 2025 – 2% rise in income tax on property
Budget 2025 – 2% rise in income tax on property The chancellor announced in the November 2025 budget that for the first time; there will be separate tax rates for property income affecting earnings from renting lands and buildings. From April 2027, income tax on property rental and income will fall under a new property…
Read MoreBudget 2025 – Late Corporation Tax filings – Penalties have doubled
Budget 2025 – Late Corporation Tax filings – Penalties have doubled As part of the November 2025 budget, the government announced that the penalty regime needed to be updated to ‘counteract the effect of inflation since the penalties were introduced’ nearly 30 years ago back in 1998. This measure was one of many in the…
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