Personal Articles

New employment protections

From 6 April 2024, new legislation took effect. This includes three Government-backed Acts. These laws give special treatment to pregnant women and new parents in redundancy situations. They form part of a broader suite of employment protections designed to support families and hardworking Brits. The new laws fortify redundancy protections. They extend to pregnancy and the period after parents...

Assistance with debt management

Earlier this month, saw the 10th anniversary of the StepChange Charity’s annual Debt Awareness Week. This is designed to shine a spotlight on the causes of problem debt. The focus on this year's campaign is looking at the main barriers to getting advice. This includes understanding that many people can take too long to get the help they need because they: Don’t understand what the advice is and...

Rent a Room Scheme – another income stream

Rent-a-Room Scheme: An Overview Homeowners can benefit from the Rent-a-Room scheme. This special set of rules is there to help them generate a tax-free income stream by renting out a room in their home. If you participate in this scheme, you need to ensure that your rental income from lodgers doesn’t surpass £7,500 in the current tax year. Earning less than £7,500 means you automatically qualify...

Taxable employment benefits from April 2026

From April 2026, the UK government will mandate real-time reporting and payment of taxes through payroll software, ending the filing...

Changes to Scottish Income Tax rates 2024-25

For the 2024-25 tax year, Scottish Income Tax rates will change with a new 45% advanced rate band for income...

Payrolling employee expenses and benefits

Employers can register for payrolling benefits and expenses. Deadlines exist for form submissions, with penalties for lateness. HMRC no longer...

Tax Diary May/June 2024

The ‘Tax Diary’ for May and June 2024 provides essential tax dates and deadlines. It includes due dates for corporation...

Settling energy disputes

The Energy Ombudsman offers free support to businesses, especially small ones, in disputes with energy suppliers. The service covers 99%...

COVID Bounce Back abuse

The Insolvency Service banned 831 directors in 2023-24 for abusing the Covid Bounce Back Loan Scheme, an increase of over...

by James MacDonald

Basis Period Reform: Changes for sole traders and partners

Basis Period Reform is a change in how income tax is calculated for unincorporated businesses, such as sole traders and...

Paying VAT on goods from EU to Northern Ireland

There are special procedures for moving goods in and out of Northern Ireland. Under the Northern Ireland Protocol, all Northern...

VAT retail schemes

VAT retail schemes are a special set of schemes used by retail businesses to account for VAT. The schemes are...
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