An insight from the gbac team on all things accounting, finance and more.
HMRC is having a busy start to 2025 when it comes to Making Tax Digital (MTD) updates. As we reported earlier, the MTD timeline has changed for those due to start using the digital platform to submit Income Tax Self-Assessment (ITSA) returns from 2026.
Though there may yet be a late reprieve – which doesn’t seem likely, according to predictions for the upcoming Spring Forecast – the cost of purchasing a property in England or Northern Ireland will be going up from 1st April 2025 due to increasing Stamp Duty Land Tax (SDLT).
In December 2024, Chancellor of the Exchequer Rachel Reeves announced the date when her next formal report to Parliament would be due, following the Autumn 2024 Budget.
A recent First Tier Tribunal (FTT) case has revealed the importance of staying on top of your tax returns even if you think you don’t owe any tax – as a UK taxpayer who lived overseas learned the hard way.
While the mandatory implementation of Making Tax Digital (MTD) for self-employed workers and landlords is still over a year away, the Autumn Budget 2024 expanded its scope.
With many people making pension contributions to multiple providers throughout their working lives, it’s not surprising that some of these pots end up lost along the way.
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