MTD for IT taxpayer exemption
From April 2026, the self-employed and landlords must use MTD for IT, but exemptions may apply in limited cases. If you are self-employed or a landlord with income over £50,000, you will need to prepare for digital record keeping, quarterly updates and a new penalty system. While most affected taxpayers will be required to comply, there are […]
Corporation tax roadmap
With a £50bn shortfall looming, the Chancellor may need to revisit last year’s Corporation Tax roadmap commitments. As this year’s Autumn Budget approaches, it is an interesting time to revisit the Corporation Tax Roadmap published alongside last year’s Budget on 30 October 2024. The roadmap sets out the government’s plans for Corporation Tax and a […]
What are the current Income Tax bands and allowances?
Income Tax applies to earnings, pensions, savings, dividends and more, with different bands across the UK nations. Individuals can be liable to Income Tax at any age. There are special rules to stop parents avoiding tax by putting assets into their children’s names. The tables below shows the tax rates you pay in each band […]