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A now-closed consultation by HRMC has provided further details about the Inheritance Tax (IHT) allowance for business and agricultural properties in the UK.

With Capital Gains Tax (CGT) rates increasing and the annual exempt amount reduced to just £3,000, it’s not surprising that HMRC is collecting considerably more revenue from CGT.

With the annualised rate for daily penalties increasing by 250% alongside the late payment interest rate rising, it’s more expensive than ever to be late when paying VAT.

Employed taxpayers who are liable for the High Income Child Benefit Charge (HICBC) will no longer need to submit a self-assessment tax return from summer 2025 onwards.

Landlords and self-employed people earning between £20,000 and £30,000 a year will now be required to switch to the Making Tax Digital (MTD) regime from 6th April 2028.

While the originally planned Spring Forecast was upgraded to a Spring Statement, there were no tax increases announced on Wednesday 26th March – but is this simply a deferred burden?