The new tax rules for Furnished Holiday Lettings (FHLs), effective from April 2025, will end favourable tax treatments: mortgage interest relief will be reduced, capital gains tax benefits will be lost, pension contributions will exclude FHL profits, and capital allowances will be abolished.

In her first budget, Rachel Reeves addressed significant tax changes, including a new employer national insurance threshold, adjustments to capital gains tax, and the abolition of non-dom status. While aiming for stability, the budget faced critiques of complexity and familiarity, echoing previous presentations.

We reported in our recent blog about HMRC's published changed of approach to Condition C of the salaried member rules.

Synopsis: When raising capital, businesses must consider VAT implications. Equity funding through share issues is outside the scope of VAT, while professional fees may be recoverable as overheads. Debt finance is VAT-exempt, but careful attention to VAT recovery on professional fees is essential to avoid unnecessary costs.

Although there had been speculation in the run up to the Spring Budget that the Chancellor was set to steal Labour's proposals to 'abolish non-dom status', the actual announcements from Jeremy Hunt...

As we move towards the end of the year, all eyes are on the upcoming Autumn Budget from the Labour government. The Prime Minister's speech on 27 August described what would be a ‘painful' Budget due...

With the UK general election now happening on 04 July, the possibility of a Labour victory brings potential changes to tax rates and allowances. As party manifestos remain unpublished...

You are able to make contributions to pensions each tax year and receive tax relief on them. Tax relief is given at your marginal rate and, therefore, the more income tax you pay...

Starting April 2025, non-doms will lose the remittance basis, facing worldwide income tax. Inheritance Tax will be based on UK residency. New rules also impact trusts, overseas income, and gains.

The Labour party, following their election win, proposes significant changes to the 'non-dom' tax regime, effective April 2025. Key changes include new tax rules, abolition of certain protections for trusts, and a shift to a residence-based inheritance tax test.

Proposed changes to UK non-domiciled tax rules remain uncertain following Jeremy Hunt's March 2024 Budget and Rishi Sunak's election announcement. Labour's manifesto promises to abolish non-dom status, increasing tax concerns and potential relocations.

Our Charity News provides updates on the latest guidance and support for the not-for-profit sector, featuring a variety of new guidance released by charity regulators.

When financing your business operations through borrowing, one of the main considerations will be whether the interest cost is deductible, and to what extent if it is. In the UK...

The ideal time tFundamental changes to the tax position on UK resident non-doms and other new arrivers to the UK are to apply from 6 April 2025...

Our Charity News offers the latest updates on guidance and support for the not-for-profit sector, highlighting new guidance issued by charity regulators.

The UK's 2024 Autumn Budget raises £40 billion in taxes, introducing higher National Insurance and Capital Gains Tax rates, abolishing the non-domiciled tax regime, and implementing residence-based tax on overseas work. Inheritance tax also broadens, affecting foreign assets.

On 26 March, The Chancellor, Rachel Reeves, delivered her Spring Statement yesterday, setting out the government's latest position on spending and economic policy...

The government is expected to publish the Finance (No. 3) Bill 2010 on Thursday 30 September, during Parliament's Conference Recess. Second Reading is provisionally scheduled for Monday 11 October.