Making Tax Digital for Income Tax (MTD IT) is fast approaching, with the mandation date for sole traders and landlords with qualifying income of £50,000 and above set firmly at 6 April 2026. In addition to the annual tax return, those mandated to comply with the MTD...
Accountants and business advisors, Whitley Stimpson, reports a significant shift in the property investment landscape as more landlords opt to register as limited companies. This trend is driven by recent tax changes and rising interest rates, which have made...
With changes to employer’s National Insurance and the Employment Allowance, now is the time for businesses to review the most tax efficient mix of salary and dividends for directors. From 6 April 2025 the secondary Class 1 National Insurance threshold reduces from...
In just over a year the first tranche of sole traders and landlords will be required by law to keep digital records to comply with the requirements of Making Tax Digital for Income Tax (MTD IT). From April 2026, taxpayers with qualifying trading and property income of...
HMRC has updated its guidance to clarify the treatment of subcontracted research and development (R&D) expenditure under the SME scheme. When R&D work undertaken by a subcontractor is subsidised, tax relief is not available to the subcontractor under the SME...
From April 2026 most benefits in kind (BIKs) will have to be processed through the payroll and included on monthly payslips, with a potential knock-on effect for student loan repayments. The mandatory payrolling of BIKs will be implemented in phases, starting from...
