Personal Articles

Private rental deposits

There are special rules under the Tenancy Deposit Scheme that limits the amount of deposit that landlords in England can request. There are also further limitations on what landlords and agents can charge tenants. If you are renting a residential property you may have to pay a pre-payment sum before you move in. The maximum deposit your landlord can ask for is: up to 5 weeks’ rent if the rent...

Changes to the High Income Child Benefit Charge

The Spring Budget has brought changes to the High Income Child Benefit Charge (HICBC), effective from 6 April 2024. The income level at which HICBC begins now starts at £60,000, up from £50,000. HICBC now charges 1% of the full Child Benefit for every £200 of the highest earner’s income between £60,000 and £80,000. Above £80,000, the charge equals the Child Benefit amount. Thus, HICBC can reduce...

Childcare Account chores

Using the HMRC Childcare Account You can use the HMRC Childcare Account to claim free childcare or pay for Tax-Free Childcare. To continue receiving these benefits, you need to sign in every three months and confirm your details are current. To be eligible for free childcare through the Childcare Account, you must be a parent of a two, three, or four-year-old child living in England. Starting...

Company filing obligations

It is important that anyone responsible for the accounts and tax filing regime for private limited companies is aware of...

Inheritance and tax

As a general rule, an individual who inherits property, money or shares is not liable to pay tax on the...

Labour win landslide election result

As had been widely predicted, the results at the polls have seen the Labour Party back in power after 14...

Exit plans

Exit can be seen as quitting, especially if the exit discussed is your business interests. But actually, business exit planning...

New government

Our new government, and in particular, Rachel Reeves, the new Chancellor, will be responsible for raising the funds that our...

Statutory redundancy pay

If you have been in the same job for two years or more and are made redundant you will usually...

Claim full expensing or 50% FYA

Full expensing offers a 100% first-year capital allowance for qualifying plant and machinery assets, reducing taxes for companies subject to...

Late night taxi for an employee

Employers have a duty of care to ensure employee wellbeing, which can include providing transport home during unsocial hours. While...

Income Tax in Scotland

The Scottish rate of income tax applies to non-savings and non-dividend income of Scottish taxpayers, defined by their close connection...
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