Employee suggestion schemes

Employee suggestion schemes

There are many advantages to creating an employee suggestion scheme where employees are rewarded for making suggestions that benefit your business. Apart from the value that these suggestions can have in saving money or driving new business ideas there are...
Carry back charitable donations

Carry back charitable donations

If you are a higher rate or additional rate taxpayer you have the option to carry back your charitable donations to the previous tax year. A request to carry back the donation must be made before or at the same time as your previous year’s self-assessment...
CGT Rollover Relief

CGT Rollover Relief

Business Asset Rollover Relief also known as CGT Rollover Relief allows for deferral of Capital Gains Tax (CGT) on gains made when taxpayers sell or dispose of certain assets and use all or part of the proceeds to buy new business assets. The relief means that the tax...
Payback company car private fuel

Payback company car private fuel

Where an employee with a company car is provided with fuel for their own private use by their employers, the default position is that the employee is required to pay the car fuel benefit charge. The charge is determined by reference to the CO2 rating of the car,...
Changes to the High Income Child Benefit Charge

Changes to the High Income Child Benefit Charge

The changes to the High Income Child Benefit Charge (HICBC) announced as part of the Spring Budget came into effect on 6 April 2024. The income threshold at which HICBC starts to be charged has been increased from £50,000 to £60,000. The HICBC is charged...
General election date announced

General election date announced

The Prime Minister, Rishi Sunak, declared from the steps of Downing Street (on 22 May 2024) that the next general election will take place on 4 July 2024.  The Prime Minister confirmed that he had spoken with His Majesty the King to request the dissolution of...
Benefits of a fall in inflation

Benefits of a fall in inflation

An economist from the Treasury explains exactly what a fall in inflation means for you. How will lower inflation help the economy?   Lower inflation supports people by maintaining the purchasing power of their money.   If prices only rise slowly,...
Post Office convictions quashed

Post Office convictions quashed

Convictions of hundreds of postmasters have been quashed following Royal Assent of the Post Office (Horizon System) Offences Act 2024. Many postmasters endured financial ruin, the loss of homes, livelihoods, reputation and some even lost their lives as a result of the...
View your annual tax summary

View your annual tax summary

The Annual Tax Summary is a document provided by HMRC that shows details of the tax you pay and how this is used by government. The Annual Tax Summary shows: your taxable income from all sources that HMRC knew about at the time that it was prepared; the...