High value council tax surcharge

High value council tax surcharge

From April 2028 residential properties valued at £2m or more will attract a new high value council tax surcharge. Announced in the Autumn Budget, eligible owners (rather than occupiers) of properties identified as being valued £2m or more by the Valuation Office will...
Income tax increases

Income tax increases

The Chancellor will add two percentage points to the rates of tax paid on income received from dividends, savings and property. If you receive dividends; interest and other savings; or income from a property you rent out as a sole trader landlord you will see an...
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...