NEWS Catch up with the latest in accounting news
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Catch up on the latest news in accounting here, from cutting edge bookkeeping technology to self-assessment updates.
Pre-Budget tax planning – act now
With the next UK Budget approaching, there is speculation about changes to tax rates, allowances, and reliefs. Acting now can help secure current benefits before any new rules take effect.
Key areas
Bank Rate trimmed to 4%
The Bank of England has knocked the main interest rate down to 4% today, cutting it by a quarter‑point from 4.25%. It’s the fifth cut in a year and brings the rate to its lowest since March 2023.
The
Interactive online tool for tax compliance check
HMRC’s new Q&A tool guides you through each step of a compliance check.
The free interactive online tool is designed to help individuals and businesses better understand what happens during a tax
Challenging your Council Tax band
If your property has changed or seems mis-banded, you may have the right to request a Council Tax review.
Properties in England and Wales are assigned Council Tax bands based on their value as of 1
Who can claim the IHT residence nil rate band
With the Residence Nil Rate Band (RNRB), families can pass on up to £1 million without IHT
The RNRB is an additional £175,000 Inheritance Tax (IHT) allowance that applies when a person’s main
Reclaiming duty moving goods to Northern Ireland
Businesses can reclaim duties on qualifying goods moved to or through Northern Ireland since 2021
The Northern Ireland Duty Reimbursement Scheme allows businesses to reclaim import duties paid on
Homebuyers warning
Properties needing repairs still count as homes and false claims to recover Stamp Duty Land Tax could mean big tax bills and penalties.
HMRC has issued a warning to homebuyers about rogue tax agents
HMRC to increase anti-money laundering fees
Fit and proper test fee to jump from £150 to £700 under HMRC’s proposed AML supervision changes
Many businesses are monitored by the Financial Conduct Authority (FCA) or certain professional bodies
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