For anyone filing a 2024–25 tax return, here is a comprehensive guide to the new rules, the key numbers, and what it means for your finances.
Category: Finance
Financial advice for owners and managers of small and medium sized business SMEs in the UK All your tax, borrowing and administration advice
Government looks at applying National Insurance to rental income in Autumn Budget
The Government is weighing a major shake-up of landlord taxation that could see National Insurance contributions applied to rental income for the first time.
AI profiling of social media will boost HMRC’s tax compliance, say advisers
Blick Rothenberg says HMRC’s use of AI through its CONNECT system, which has already recovered over £3bn in unpaid tax, will be strengthened by profiling people’s social media activity.
HMRC admits using AI to monitor taxpayers’ social media
HMRC has confirmed for the first time it uses AI to monitor social media in criminal tax probes, prompting MPs to warn of risks to privacy and potential “Horizon-type” errors.
£105m in Premium Bond prizes unclaimed – including 11 jackpots worth £100,000
More than £105 million in Premium Bond prizes remain unclaimed, including 11 worth £100,000. NS&I urges savers to check their contact details and trace old bonds.
HMRC scores tax windfall from Lionesses’ Euro 2025 prize money
The Lionesses’ Euro 2025 win is expected to deliver HMRC a £788,900 tax windfall, with players facing a 47% marginal tax rate on bonuses, according to Blick Rothenberg.
Taxpayers who haven’t settled their bill with HMRC must pay by 31st July or face fines and interest
HMRC warns taxpayers to settle their bills by 31st July or risk 8.25% late payment interest and penalties. Payments on account apply to many self-employed and high-income earners.
Fields of fortune: Why farmland remains a tax-efficient safe haven — for now
UK farmland remains a popular tax-efficient asset for wealthy investors, but proposed reforms to Agricultural Property Relief by Chancellor Rachel Reeves could reshape the landscape.
Brushed with value: How fine art is becoming the tax-efficient investment of choice for the wealthy
Wealthy investors are turning to fine art for tax efficiency, inheritance planning, and stable returns, with structures like trusts and cultural gifting offering strategic advantages.
Families face red tape nightmare with inheritance tax on pensions from 2027
From April 2027, pensions will be included in inheritance tax calculations, raising £1.46bn annually but sparking backlash over added bureaucracy and burden on bereaved families.
Inheritance tax haul hits £2.2bn in just three months amid rising property prices and frozen thresholds
HM Revenue and Customs (HMRC) collected a staggering £2.2 billion in inheritance tax (IHT) in the first three months of the current tax year, new data released this morning reveals—£100 million more than the same period last year.
New ‘buy now, pay later’ affordability checks may cover even smallest loans under FCA proposals
FCA proposes new rules requiring affordability checks on even the smallest ‘buy now, pay later’ loans, aiming to protect vulnerable borrowers as the market hits £13bn.
Wimbledon winners face £1m UK tax bills despite non-resident status
Wimbledon winners Jannik Sinner and Iga Swiatek face UK tax bills exceeding £1 million each, despite being non-residents, due to HMRC rules on sports earnings and image rights.
Reeves to cut cash ISA allowance in push to revive UK capital markets
Chancellor Rachel Reeves is expected to cut the cash ISA allowance to encourage investment in UK equities, prompting backlash from savings providers and finance experts.
FCA to allow millions free financial support in major policy shift
Millions of consumers will be offered free, tailored financial support from banks and pension providers under sweeping new proposals from the City regulator, in a bid to steer people away from risky online advice and poor money decisions.
