The normal expenditure out of income exemption allows individuals to make gifts during their lifetime that are immediately exempt from inheritance tax (IHT) – there is no seven-year wait. A recent case heard by the First-tier Tribunal (FTT) has cast some light on what is meant by ‘normal expenditure’.

Making Tax Digital (MTD) is now live, but given the low numbers registered with HMRC, many sole traders and landlords affected are still looking at how to comply and keep the administrative burden to a minimum.

The Renters’ Rights Act comes into force on 1 May, bringing significant changes for landlords. To help provide clarity, we are pleased to be taking part in a free landlord information evening hosted by Maddisons Residential on Thursday 7 May.

Despite running for over two years, HMRC’s cryptoasset disclosure service has only generated just over £4 million in disclosures. An indication, perhaps, of the low level of awareness and compliance surrounding cryptoassets.

The start of the tax year on Monday 6 April (Easter Monday) heralds a variety of changes to tax rules, few of them welcome. We take a look at the main changes coming into effect.

Making Tax Digital is due to start from April and it is expected that a number of taxpayers will be unaware of their requirements.

The government cut the capital gains tax (CGT) annual exemption from £12,300 in 2022/23 to just £3,000 from 2024/25 onwards. You might expect this to lead to a higher tax take, but the results so far have been quite the opposite.

From 6 April 2026, the basic and higher tax rates on dividend income are going to increase by two percent. This means owner-managers need to act as a matter of urgency if they wish to benefit from some fairly basic tax planning.

More than 5.6 million employees were issued the wrong tax code last year, resulting in £3.5 billion in tax overpaid to HMRC. Reclaiming overpayments, however, can be a slow and frustrating process.

Landlords are now facing an across-the-board two percent increase for property income tax rates from 6 April 2027.

The inheritance tax (IHT) agricultural relief U-turns have been well publicised, but the changes apply equally to Business Property Relief.

The tax charge when a director, who is also a participator, has an outstanding loan with a close company is going up by two percent, to 35.75%, from 6 April 2026.

The rate of income tax relief for individuals investing in venture capital trusts (VCTs) is to be cut. However, gross asset and investment limits for the scheme will become more beneficial.

With the festivities behind us, it is time to turn our thoughts to the next ‘new year’, on 5 April. We take a brief look at a few things to consider before the end of the tax year.

With the end of January rapidly approaching, many will be turning their attention to the Self-Assessment tax return deadline. If you need to file a tax return and haven’t yet now is the time to act.

Companies House have announced a substantial increase to the fees charged. The doubling cost of incorporating a business is a particular sting in the tail.

Government plans on company reporting appear somewhat contradictory. Some regulations are set to tighten from April 2027, but latest announcements suggest a move in the opposite direction.

HMRC’s newly launched online service means that taxpayers can pay a high income child benefit charge (HICBC) in real time. It should reduce the number of individuals who have to register for self assessment only for HICBC.

Today the Chancellor, Rachel Reeves, delivered her 2025 Autumn Budget – not before the OBR accidently published its official forecast early - where a number of changes were announced.

Used wisely, a company loan can be an attractive option for directors who need to access company funds, especially if the need is urgent. However, there can also be serious tax implications for the unwary.