Taxation

Residency-Based Taxation Replacing ‘Domicile’ Concept Significant changes have been announced for UK resident non-domiciled individuals—those who spend substantial time in the UK without intending to settle permanently. Starting 6 April…

Pension Contributions, Tax-Free Lump Sum, and New Inheritance Tax Rules The Chancellor’s budget left pension tax rules largely untouched. Individuals can still withdraw 25% of their pension as a tax-free…

Corporate tax rates from 1 April 2025 for the financial year ending 31 March 2026, corporate tax rates and thresholds will remain: The thresholds apply across all companies in a…

Motor Vehicles: From April 2025, most double cab pickups with a payload of 1 tonne or more will be classified as cars for capital allowance purposes, limiting tax benefits compared…

For employees the national insurance rates and thresholds for employees in the 2025/26 tax year are as follows: Earnings below the LEL do not qualify for National Insurance contributions or…

As expected, and with immediate effect from the budget date of 30 October 2024, the rates of capital gains tax (CGT) have been increased on some asset types as follows:…

Income tax and allowances: For the 2025/26 tax year, which runs until 5 April 2026, the personal tax-free allowance will stay at £12,570. This allowance begins to reduce for those…

HMRC have recently increased their use of ‘one to many’ or ‘nudge’ letters to taxpayers, suggesting there may be errors or omissions in tax returns or accounts information. While HMRC…