by AJN Accountants | Jun 19, 2025 | Tax Planning
From the 2024-25 tax year, self-employed individuals with profits in excess of £6,725 no longer need to pay Class 2 national insurance contributions (NIC). Instead those taxpayers will receive a national insurance credit to secure their access to contributory...
by AJN Accountants | May 14, 2025 | Tax Planning
From April 2026 most benefits in kind (BIKs) will have to be processed through the payroll and included on monthly payslips, with a potential knock-on effect for student loan repayments. The mandatory payrolling of BIKs will be implemented in phases, starting from...
by AJN Accountants | May 12, 2025 | Tax Planning
From August 2025 employed taxpayers will no longer be required to complete a self assessment tax return (SATR) to declare and pay the high-income child benefit charge (HICBC). The HICBC is a tax charge paid by the higher earning parent which claws back up to 100% of...
by AJN Accountants | Apr 23, 2025 | Tax Planning
In just over a year the first tranche of sole traders and landlords will be required by law to keep digital records to comply with the requirements of Making Tax Digital for Income Tax (MTD IT) From April 2026, taxpayers with qualifying trading and property income of...
by AJN Accountants | Mar 3, 2025 | Tax Planning
From 6 April 2025, the UK will introduce a residence-based system for inheritance tax (IHT), replacing the current domicile-based rules . This change significantly impacts individuals who have been UK residents for an extended period, as well as trusts holding non-UK...
by AJN Accountants | Feb 14, 2025 | Tax Planning
Many more sole traders and landlords will be required to comply with making tax digital (MTD) for income tax when the qualifying income threshold is reduced from £30,000 to £20,000. The Budget confirmed that taxpayers with qualifying income of £50,000 or more will be...
