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New online service for high income child benefit charge

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.

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Budget 2025 Key Points

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.

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Director’s loans tax implications

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.

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Exemptions from Making Tax Digital

From April 2026, Making Tax Digital (MTD) will become mandatory for sole traders and landlords with an annual income of more than £50,000. However, some may be able to avoid the requirements.

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Crypto - Proposed cap on Stablecoin Holdings

A Bank of England proposal to cap stablecoin holdings at a maximum of £10,000 or £20,000 for individuals has received fierce criticism; however, there are signs the Bank is softening its stance.

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Company cars are having a revival

Recently published statistics show that the company car is making something of a comeback, with the number of recipients for 2023/24 up 80,000 from the previous year.

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Stamp Duty - If in doubt, take advice!

In early September (which already feels like a very long time ago), the Deputy Prime Minister resigned after discovering that she had underpaid Stamp Duty Land Tax (SDLT) on the purchase of a flat in Hove after not taking appropriate advice. We take a look at what went wrong and how you can avoid similar mistakes.

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Updated method of correcting VAT return errors

HMRC have withdrawn form VAT652. Companies with large VAT return errors must now submit corrections online or in writing. Larger VAT return errors are entered as method 2 type corrections, whereas method 1 is used when correcting smaller errors.

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Companies House ID verification underway

Companies House identity verification starts on 18 November 2025. For individual directors, the date will vary when they will need to confirm they have verified their identity, depending on when their company’s next confirmation statement is due.

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Increase to CGT on business sales from April 2026

Business Asset Disposal Relief (BADR), which reduces the CGT rate on business sales, will be less advantageous from April 2026, so with 6 months to go until this takes effect, company owners may be looking to sell sooner rather than later.

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7 Years of TN Accountancy

TN Accountancy was launched in September 2018, so this month we reach our 7th year in business. A big thank you to our clients and professional contacts who’ve supported us along the way.

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Crypto transactions under the spotlight

From 1 January 2026, crypto investors will face new reporting requirements when buying, selling, transferring or exchanging cryptoassets, such as Bitcoin. This means HMRC will be able to link cryptoasset activity to your tax record.

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