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Top Rotherham Taylor Chartered Accountants News

The Liberals Are Not Just Going Through a Phase – This Is a Full-Blown Identity Crisis
Politics

The Liberals Are Not Just Going Through a Phase – This Is a Full-Blown Identity Crisis

67% Left coverage: 3 sources
The party is not in good health. Sussan Ley’s main challenge is to ensure the party understands just how much trouble it is in.See the Story
Mandatory Payrolling of Benefits in Kind Delayed by HMRC - Rotherham Taylor Chartered Accountants
Taxes · United Kingdom

Mandatory Payrolling of Benefits in Kind Delayed by HMRC - Rotherham Taylor Chartered Accountants

100% Center coverage: 1 sources
The delay to payrolling Benefits in Kind (BIK) to 2027 may seem like a cause of relief for many businesses who are concerned about the extra responsibility the changes will bring, but employers should still prepare for this landmark change. Rather than filing an annual P11D form, the changes to payrolling BIK will force businesses to complete additional admin every month. Though the 2027 deadline may seem far off, it is worth preparing now, as t…See the Story
Agricultural Relief for Inheritance Tax
Money

Agricultural Relief for Inheritance Tax

100% Right coverage: 1 sources
Work out whether assets in an estate qualify for Agricultural Relief and the rate at which it is due.See the Story

Class 2 NICs – The hidden issue affecting self-employed taxpayers

Recent changes to Class 2 National Insurance contributions (NICs) were meant to simplify things for self-employed taxpayers. Instead, some are facing confusion, incorrect charges, and silence from HM Revenue & Customs (HMRC). The rule change that caused the problem From the 2024/25 tax year, most self-employed individuals no longer needed to pay Class 2 NICs, provided their profits were above £6,725. Instead, HMRC now automatically credits these…United Kingdom · United KingdomSee the Story

Kittel VAT: How to Control the Uncontrollable - Rotherham Taylor Chartered Accountants

Receiving a Kittel VAT notice is something that many businesses dread. HM Revenue and Customs (HMRC) can demand the repayment of tax already reclaimed, and this can sometimes amount to a significant amount of money. The notice comes when a trader “knew or should have known” their transaction was linked to fraudulent evasion of VAT. This makes it ineligible for a deduction of input tax. Kittel VAT can seem like an ever-present threat hanging over…United Kingdom · United KingdomSee the Story

Increased Borrowing Could Mean Increased Taxes, Experts Warn - Rotherham Taylor Chartered Accountants

Public borrowing hit £20.5 billion in April, the highest level for that month since 1993 and nearly £3 billion above forecast. Economists warn the Chancellor may have little choice but to plug the gap with tax rises, spending cuts or changes to fiscal rules if elevated levels of borrowing persist. While nothing is confirmed, several areas are drawing speculation. Income Tax Extending the Income Tax threshold freeze beyond 2028 could push million…Taxes · EnglandSee the Story

How to Prepare for an Unexpected Economic Recovery - Rotherham Taylor Chartered Accountants

The International Monetary Fund (IMF) has upgraded the UK’s 2025 GDP growth forecast to 1.2 per cent, citing a strong first-quarter performance and signs of a recovering economy. The official figures indicate that increases in customer spending and business investment have contributed to this economic growth. These early signs of recovery present an opportunity to reassess your strategy and position your business for growth. Economic recovery st…IMF · United KingdomSee the Story

Too Many Sole Traders Are Still Missing Out on Their State Pension - Rotherham Taylor Chartered Accountants

How much State Pension you get depends on your National Insurance (NI) record when you reach the State Pension age. Gaps in your NI record could affect how much you receive. Unfortunately, too many sole traders are still missing out on the full State Pension due to a range of factors. Why are National Insurance Contributions important? A full State Pension requires 35 years of NI contributions or credits. Missing even a few years can have a sign…United Kingdom · United KingdomSee the Story

Savers Urged to Act Now on Tax Due on Interest

Those who have earned interest on their savings are being urged to act now and contact HMRC if they’ve not yet received a letter from the tax authority. Thousands of savers are putting themselves at risk of fines by not declaring owed tax on interest from savings. According to the Association of Taxation Technicians (ATT), recent estimates show that an additional 893,000 taxpayers will have to pay tax on their savings by 2028 to 2029 due to froz…Taxes · United KingdomSee the Story

Tax Traps in Director Loans – A Quiet £10,000 Threshold You Cannot Afford to Ignore

Director and employee loans are a standard feature in many small companies. They are used to bridge gaps, cover work expenses or support cash-strapped staff. However, once they creep past £10,000, they start attracting unwanted attention from HM Revenue & Customs (HMRC). The overlooked threshold Loans above £10,000, regardless of when or why they were made, can become taxable benefits. If those loans are interest-free or carry a rate lower than …United Kingdom · United KingdomSee the Story

Fake HMRC Letters Are a Blight on Business

Scammers and fraudsters are looking for new ways to get money and data out of unsuspecting businesses. The latest wave of compliance changes made to Companies House and HM Revenue and Customs have resulted in businesses being confused about what is expected of them. Sensing an opportunity, the scammers have sought to take advantage of the situation and trick people out of sensitive data. We are going to break down a recent scam and show you how …United Kingdom · United KingdomSee the Story

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