More in line for savings boost

From April 2025, more low-income workers on Universal Credit can join Help to Save. Save up to £50/month and get a 50% bonus – up to £1,200 over 4 years. A simple way to build your savings. The eligibility rules for the Help to Save scheme were...

Have you set up your Personal Tax Account yet?

Skip the phone queues. Your Personal Tax Account lets you manage everything from tax codes to refunds online. Quick, secure, and all in one place. If you haven’t signed up yet, now’s the time. Your Personal Tax Account (PTA) is a simple and secure way...

Repeal of furnished holiday lets regime

From April 2025, holiday lets lose their special tax treatment. Landlords must prepare for new Income, Capital Gains, and Corporation Tax rules. Here's what’s changing. The repeal of the Furnished Holiday Lets (FHL) regime, a long-standing arrangement that...

Frozen tax allowances and fiscal drag

Tax thresholds frozen till 2028? That’s fiscal drag in action – more tax paid without rate rises. It’s a stealthy revenue boost for HM Treasury, projected to bring in £38bn a year by 2029. Inflation and pay rises make it worse. The freezing of...

HMRC interest rate increases

HMRC has announced that interest rates for late payments will increase by 1.5% for all taxes starting 6 April 2025. This change, which was first announced at Autumn Budget 2024, will raise the late payment interest from the current base rate plus 2.5% to base rate...

HMRC time to pay arrangements

If you're facing financial difficulties and owe tax, HMRC’s Time to Pay service may offer breathing space. From self-assessment to PAYE and VAT, eligible individuals and businesses can spread payments and avoid immediate enforcement. Businesses and...