Category Archive Tax Blog

Potential tax increases and their impact on businesses

July 10, 2024 Comments Off on Potential tax increases and their impact on businesses By Joshua Leigh & Co

In recent reports, former Prime Minister Sir Tony Blair has forecasted potential tax increases that could have an impact on businesses across the UK.

The Tony Blair Institute’s chief economist predicts taxes may need to rise by 1.9 percentage points of GDP by the end of this Parliament to stabilise debt, potentially equating to over £50 billion.

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AI in tax investigations – What does it mean for you?

June 5, 2024 Comments Off on AI in tax investigations – What does it mean for you? By Joshua Leigh & Co

Artificial intelligence (AI) is undoubtedly a major trend in accountancy and tax, with many firms, business clients and Government agencies recognising its benefits and adopting it.

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Earning between £100,000 and £150,000? Your tax return is changing

May 15, 2024 Comments Off on Earning between £100,000 and £150,000? Your tax return is changing By Joshua Leigh & Co

If you’re a high earner with between £100,000 and £150,000 in net adjusted income, you’ll soon receive a letter from HM Revenue & Customs (HMRC) regarding whether you need to continue submitting a Self-Assessment tax return.

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Furnished residential lets vs Furnished Holiday Lets – The tax situation

May 14, 2024 Comments Off on Furnished residential lets vs Furnished Holiday Lets – The tax situation By Joshua Leigh & Co

If you’ve invested in a property to let and furnished it, you will be liable to pay tax on the income you receive from letting the property out.

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HMRC has clarified tax rules on commuting for hybrid and remote workers

April 24, 2024 Comments Off on HMRC has clarified tax rules on commuting for hybrid and remote workers By Joshua Leigh & Co

In a recent statement, HM Revenue & Customs (HMRC) has clarified travel from an employee’s home to their base office under a hybrid working arrangement does not qualify for tax relief.

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Reviewing your payroll? Check what’s changed

April 16, 2024 Comments Off on Reviewing your payroll? Check what’s changed By Joshua Leigh & Co

With the new tax year underway, it’s time to review your payroll to ensure that it reflects the latest changes and updates to legislation around pay, holiday and tax.

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What are the benefits of using the HMRC app?

April 11, 2024 Comments Off on What are the benefits of using the HMRC app? By Joshua Leigh & Co

The HM Revenue & Customs (HMRC) app was launched in 2023 and has quickly become a key tool for many, with over 80 million interactions.

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Due a tax rebate? Keep an eye on your account

April 9, 2024 Comments Off on Due a tax rebate? Keep an eye on your account By Joshua Leigh & Co

In a new initiative designed to reduce paper use and unnecessary confusion, HM Revenue & Customs (HMRC) has announced a significant change to the way that taxpayers are notified of a repayment.

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Plan a little, achieve a lot – Destress with effective tax planning

April 3, 2024 Comments Off on Plan a little, achieve a lot – Destress with effective tax planning By Joshua Leigh & Co

April marks both the start of the 2024/25 tax year and Stress Awareness Month – a coincidence not lost on those of you who are turning your attention to tax planning for the coming year.

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Is your partnership tax-efficient?

March 28, 2024 Comments Off on Is your partnership tax-efficient? By Joshua Leigh & Co

Tax efficiency is one of the major deciding factors between different types of companies, particularly for growing businesses which need to minimise costs.

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