Salary sacrifice pensions

Salary sacrifice pensions

Many employers offer salary sacrifice schemes enabling employees to give up some of their salary in exchange for an equivalent employer’s contribution into their pension. If you sacrifice some of your salary to your pension, the amount you give up is not counted...
Understanding simple assessments

Understanding simple assessments

If you owe income tax that cannot be collected automatically via PAYE, such as tax on bank interest or the state pension, HMRC may send you a simple assessment notice. This letter shows how much tax HMRC believe you owe based on information they hold. It is...
Electric vehicle excise duty

Electric vehicle excise duty

If you drive an electric or plug-in hybrid car you will have to pay a new mileage-based charge from April 2028. The electric vehicle excise duty (eVED) will be charged on top of the current vehicle excise duty charge paid by all vehicles. The charge will equal 3p per...
Business and agricultural property reliefs

Business and agricultural property reliefs

Draft legislation has been published giving more insight into how and when proposed restrictions to two major inheritance tax (IHT) reliefs will be implemented. At Autumn Budget 2024 the Chancellor announced plans to reform business property relief (BPR) and...