An insight from the gbac team on all things accounting, finance and more.
Businesses faced some less than funny changes in April including reduced capital allowances, increased fines for late filing of corporation tax returns and the closure of HMRC’s free corporation tax return filing portal.
Only slightly more than £4 million has been disclosed through HMRC’s cryptoasset disclosure service, possibly a sign of the lack of knowledge and adherence to regulations regarding cryptoassets.
6 April brings a variety of changes to the tax rules.
The rate of compensation paid to smaller employers for administering statutory payments will increase from 8.5% to 9% on April 6, 2026, although it will be much less generous than the increase last year.
With a new online service launched by HMRC, taxpayers who need to pay the High Income Child Benefit Charge (HICBC) can do so in real time, instead of registering for self-assessment.
Employers must be ready for the new “day one” rights, which will take effect on April 6, 2026.
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