Self-Assessment
Should I Be Worried About HMRC Spotlight 63? | Kennedys Accounting
Should I Be Worried About HMRC Spotlight 63? | Kennedys Accounting Concerned about HMRC Spotlight 63? Find out whether your property structure could be affected and get expert advice from Kennedys Accounting. If you’ve used a hybrid partnership arrangement or another property tax planning structure, you may be wondering whether HMRC Spotlight 63 affects you.…
Read MoreMaking Tax Digital and Student Loans: What Sole Traders and Landlords Need to Know
Making Tax Digital and Student Loans: What Sole Traders and Landlords Need to Know If you are self-employed, a sole trader or a landlord with qualifying income above £50,000, Making Tax Digital (MTD) for Income Tax now changes how you report your figures to HMRC. If you also repay a student or postgraduate loan, there…
Read MoreWhat is HMRC Spotlight 63? Expert Advice for Landlords | Kennedys Accounting
What is HMRC Spotlight 63? Expert Advice for Landlords | Kennedys Accounting Learn what HMRC Spotlight 63 means for landlords and property investors. Discover who is affected, the risks involved and how Kennedys Accounting can help you stay compliant. HMRC Spotlight 63 is guidance issued by HMRC warning against certain hybrid partnership arrangements used by…
Read MoreHMRC Is Sending Thousands of Crypto Tax Letters — Here’s What UK Crypto Holders Need to Know
HMRC Is Sending Thousands of Crypto Tax Letters — Here’s What UK Crypto Holders Need to Know Crypto tax is no longer something investors can afford to ignore. HMRC is increasing its focus on digital assets, and a growing number of UK investors are being contacted about possible Capital Gains Tax liabilities. Why this matters…
Read MoreFrozen tax thresholds: why now is the time to speak to your accountant
Frozen tax thresholds: why now is the time to speak to your accountant Frozen income tax thresholds are quietly reshaping the UK tax landscape. According to the latest HMRC figures, the number of higher rate taxpayers is expected to reach nearly 8 million in the current tax year, up from 7.29 million in 2025-26 and…
Read MoreMonthly ‘payday’ deductions for 7 million Self-Assessment PAYE taxpayers
Monthly ‘payday’ deductions for 7 million Self-Assessment PAYE taxpayers In a radical move, HMRC has set out plans to end twice-yearly tax bills for the seven million PAYE taxpayers inside self-assessment, with monthly ‘payday’ payments. Following the introduction of mandatory Making Tax Digital for Income Tax for earners down to as low as £20,000 within…
Read MoreThousands of Landlords and Sole Traders have still not signed up for Making Tax Digital
Thousands of Landlords and Sole Traders have still not signed up for Making Tax Digital With less than 60 days to go before the first quarterly filing date for wave one of Making Tax Digital (MTD) for Income Tax, over 400,000 taxpayers have not even registered! Only 336,000 of the first wave of MTD for…
Read MoreApril 2026 – Tax ‘take’ up £6bn in one month
April 2026 – Tax ‘take’ up £6bn in one month Analysis of the latest HMRC figures for April shows that the tax take for the first month of the new tax year continues to soar. HMRC collected £87.3bn in taxes in the month of April, up an incredible £6.3bn from April 2025. Income tax, capital…
Read MoreTax Free Mileage rate rises by 10p
Tax Free Mileage rate rises by 10p In a positive move, the chancellor increased the approved mileage rate for personal car use for business trips, which has been increased for the first time in more than 15 years. With soaring petrol and diesel prices, the chancellor announced a 10p per mile increase in tax-free mileage…
Read More2025/26 Tax Year changes for Directors
2025/26 Tax Year changes for Directors From the 2025/26 tax year onwards, directors will be required to provide additional information in their tax returns. At first glance, the additional information requirements may seem like a small administrative update, however in practice they raise a number of practical questions. From 2025/26, directors will be required to…
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