Business
VAT Domestic reverse charge – HMRC advises of further tax enquiries
VAT Domestic reverse charge – HMRC advises of further tax enquiries The construction sector has been working with the VAT domestic reverse charge (DRC) since March 2021, but lately it seems HMRC’s attitude towards compliance has changed dramatically. The scheme, which was introduced to combat VAT fraud, with a promise of ‘light touch’ enforcement, is…
Read MoreAnnual Leave – Employers will need to retain records for 6 years
Annual Leave – Employers will need to retain records for 6 years From 6 April 2026, under the Employment Rights Act 2025, employers are required to keep records on annual leave and holiday pay for a period of six years. This will be a major change for employers with the current approach tending to be…
Read MoreDirectors Loan Accounts (DLA’S) – HMRC clamp down
Directors Loan Accounts (DLA’S) – HMRC clamp down HMRC is planning draconian reporting requirements on director’s loan accounts and participator loans to connected companies. This move is designed to target the £14.7bn small business tax gap, which is said to have hit a record high in 2024, which now represents 40% of small business corporation…
Read MoreApril 2026 – Personal Tax changes
April 2026 – Personal Tax changes Increase in tax on dividends, directors’ loan interest rate rise, business asset disposal relief hike, frozen thresholds, inheritance tax for farmers and family businesses, Making Tax Digital starts, CIS, and more Dividend tax There will be a 2% increase in the rates of income tax paid on dividends at the…
Read MoreFree HMRC company tax return filings ended on 31 March 2026
Free HMRC company tax return filings ended on 31 March 2026 Companies House and HMRC are closing the joint online filing service on 31 March 2026 removing the free option completely. This will remove all records held in the online filing service. From 1 April 2026 companies will have to use software to file company…
Read MoreOdoo Partner Day in Belgium
Odoo Partner Day in Belgium Our Managing Director, Dermot Kennedy and Senior Odoo Accountant, Chris Wood recently attended the Odoo Partner Day in Belgium—and the biggest takeaway? Odoo v19 is all about pragmatism, productivity, and faster deployments. With embedded AI, improved usability, and more standardised processes, it’s clear that Odoo is evolving to meet the…
Read MoreSpotlight 63
Are you under the Spotlight? – Spotlight 63 Property business arrangements involving hybrid partnerships (Spotlight 63) – GOV.UK We Can Help You Put It Right If you’re a landlord who has recently become aware of Spotlight 63, you’re not alone. Many property owners are now realising that their tax position may not be as robust…
Read MoreApril 2026 – Changes to charity tax relief rules coming into place
April 2026 – Changes to charity tax relief rules coming into place From April 2026, the government will introduce changes to the rules on tainted donations, approved charitable investments, and attributable income to prevent misuse of charitable tax reliefs. These changes will affect all UK charities, Community Amateur Sports Clubs (CASCs), and donors, and the…
Read MoreAre you a residential Landlord?
Are you a residential Landlord? From April 2027, the tax landscape for residential property becomes markedly tougher due to higher income tax rates on rental income, and a new annual surcharge on high-value homes from April 2028. For buy-to-let (BTL) landlords and high-net-worth individuals (HNWs), the cumulative effect is clear: higher holding costs, increased compliance…
Read More£137M paid in late payment interest by 1.3 million taxpayers
£137M paid in late payment interest by 1.3 million taxpayers HMRC’s decision to hike the late payment interest rate to 4% above the Bank of England base rate from 6 April 2025, has meant that rates were as high as 8.25% for many months. In total, HMRC charged 1.3 million taxpayers late payment interest in 2023-24 which raised 137m in a…
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