Rachel Reeves has confirmed that she will deliver the Spring Statement  to the House of Commons on Tuesday, 3 March 2026 . The Spring Statement is primarily an opportunity for the government to set out an update on the state of the UK economy, informed by the latest economic and fiscal forecasts from the Office for Budget Responsibility (OBR). Alongside this, the statement often serves as a platform for publishing consultations, including early-stage calls for evidence and di

From April 2026 , Making Tax Digital for Income Tax (MTD for IT)  will become mandatory for many self-employed individuals and landlords. This represents one of the biggest changes to the UK tax system in recent years, moving away from a single annual tax return towards more regular digital reporting to HM Revenue & Customs . The aim of MTD for IT is to modernise the tax system, improve accuracy, and give taxpayers greater visibility over their tax position throughout the yea

Overview Recent reports suggest that the Chancellor,   Rachel Reeves , is considering a significant change to the National Insurance Contributions (NICs) regime — one that could have major implications for members of   Limited Liability Partnerships (LLPs) . While these reports remain unconfirmed, the level of detail contained in the leaks suggests that the Treasury is seriously examining proposals to   bring LLP members more closely in line with employees   in terms of NIC t

HMRC has introduced new mandatory reporting obligations that will affect both company directors  and self-employed taxpayers when...

With the next Budget approaching, speculation is growing that the Government may make further changes to the taxation of dividend income....

With the 2025 Budget scheduled for Wednesday, 26 November, there are plenty of rumours about potential tax increases.   With UK borrowing costs at their highest in 27 years, the Chancellor faces the challenge of boosting the economy while striving to "balance the books."   This series of articles explores how the Chancellor might tackle this issue without breaking the Labour Party Election Manifesto pledge to avoid raising taxes on working people. We begin by focusing on area

HMRC has revised interest rates for late payments following the Bank of England's interest rate rise to 5.25%. The Bank's Monetary Policy...

The Government is calling for evidence on income tax self-assessment (ITSA) registration to find out whether bringing forward the point...

A Budget policy paper confirms that the switch from currently a basis to the tax year basis will happen for all self-employed individuals...

Rishi Sunak delivered his third budget as chancellor to the Commons on Wednesday 27 October 2021 where he announced a series of measures...

The Chancellor, Rishi Sunak, will reveal his Budget and Autumn spending review to the Commons on 27 October 2021, The government spending...

The Government has delayed the introduction of Making Tax Digital for Income Tax self-assessment (MTD for ITSA) to 6 April 2024 to give...

The government plans to increase dividend tax by 1.25 percentage points, which means investors will have to pay more on the money they...

If you're an employer, the rate changes could make the process of hiring staff more expensive. Looking ahead, you will likely need to cut...

National Insurance contributions will rise by 1.25% to pay for the social care system in England, with the levy expected to raise about...

HMRC has clarified changes to the late payment penalty scheme which will start to come into force from April 2022. There are two late...

Reforms to the tax system aim to make it easier for self-employed workers and small businesses to fill out their returns have been...

The claims service for the fifth SEISS grant will open from late July. The grant covers lost or reduced earnings from May to September...

Unlike the previous four grants, the fifth grant will be worth different percentages of average trading profits depending on the...

The Low Income Tax Reform Group ("LITRG") is warning people who have claimed Self-Employment Income Support Scheme ("SEISS") grants that...