The impact of frozen personal allowances
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
Autumn Budget 2025: What Changes Might Be on the Horizon?
As we look ahead to the Autumn Budget 2025, it is clear that the Chancellor, Rachel Reeves, will be under pressure to balance public expectations with fiscal reality. A combination of reduced growth
Tax gap estimated at 5.3% for 2023-24
HMRC missed out on £46.8bn in tax last year. Small businesses and Corporation Tax make up the biggest share of the shortfall.
The tax gap for the 2023-24 tax year has been published and is estimated
Winter Fuel Payments reinstated
The government has announced the reinstatement of Winter Fuel Payments for pensioners in England and Wales for winter 2025-26, reversing the previous year’s cuts. Around nine million pensioners are
2025 Spending Review published
The government’s 2025 Spending Review outlines a major funding boost for healthcare, defence, housing, and infrastructure to support long-term recovery and growth.
The 2025 Spending Review was
Effects of Rachel Reeves’ Spending Review
Chancellor Rachel Reeves delivered her first Spending Review to Parliament last week, setting out the government’s financial priorities for the next three years. Her approach signals a shift away from
The value of tax planning for high net worth individuals
For high net worth individuals (HNWIs), tax planning is not simply a compliance activity, it is a strategic tool to preserve and grow wealth. With rising scrutiny from HMRC, frozen allowances, and
HMRC interest rates following Bank of England rate cut
Following a Bank Rate cut to 4.25%, HMRC late payment and repayment interest rates will drop from 19 and 28 May 2025. Check which taxes this affects.
The Bank of England’s Monetary Policy Committee
Landmark economic deal with United States
On 8 May 2025, the UK government announced a landmark trade agreement with the United States, aimed at reducing tariffs and bolstering key British industries. This deal is projected to save thousands
Electronic invoicing consultation
The government wants your say on e-invoicing. Quicker payments, fewer errors, and better VAT reporting are on the table. A 12-week consultation could shape the future.
HMRC and the Department for
