by admin | Jul 10, 2025 | National Insurance |
Employers must act now to meet the deadline for paying Class 1A NICs for 2024–25 to avoid HMRC penalties. These contributions are due by 19 July 2025 if paying by post, or by 22 July 2025 for electronic payments. Class 1A NICs apply to most taxable benefits...
by admin | Jul 10, 2025 | Capital Gains Tax |
Capital Gains Tax on certain residential property sales must be reported and paid within 60 days to avoid penalties and interest. The annual exempt amount applicable to Capital Gains Tax (CGT) is currently £3,000. CGT is normally charged at a simple flat rate of...
by admin | Jul 10, 2025 | Income Tax |
The second 2024-25 payment on account for self-assessment taxpayers is due on 31 July 2025. If you are finding it difficult to meet this tax bill, there are options available to ease the burden. Taxpayers with liabilities of up to £30,000 can use the...
by admin | Jul 10, 2025 | Income Tax |
Since 6 April 2025, the remittance basis of taxation for non-UK domiciled individuals (non-doms) has been replaced by the Foreign Income and Gains (FIG) regime. This shift marks a significant change, as the new FIG regime is based on tax residence rather than...
by admin | Jul 10, 2025 | General |
The impact of frozen personal allowances often leads to fiscal drag, a situation where individuals pay more tax as their earnings rise without a corresponding increase in allowances. This occurs because tax thresholds remain fixed while wages increase, thus...
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