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Our blog explains Making Tax Digital for Income Tax, outlining who it affects, when it starts, and how to comply. We have highlighted the key deadlines, software requirements, and the benefits of digital record keeping for sole traders and landlords to guide you through preparing for the transition.

Our blog covers the April 2025 legislative changes that will affect IR35 and shift status determination back to contractors for more clients. We have also explained key factors for assessing IR35 status and the benefits of being outside IR35. At Sherwin Currid we offer expert support to help contractors stay compliant and tax efficient.

Chancellor Rachel Reeves’ Spring Statement 2025 focused on economic updates rather than major tax changes. Key announcements included increased defence spending, welfare budget cuts, and updates on the crackdown on tax avoidance. From April 2025 changes announced previously be the Labour Government will also take effect such as Employer NICs and Capital Gains Tax changes.

The Autumn Budget 2024 introduces increased employer NICs, CGT rate hikes, and Stamp Duty surcharges, impacting small businesses, contractors, and property investors. With expanded Employment Allowance and a commitment to digital tax compliance, these changes aim to boost public funding while posing new financial considerations for UK businesses and investors.

Starting a business as a sole trader comes with many advantages, but it also means that you are personally responsible for your business’s finances. One of these responsibilities includes registering for VAT if your turnover exceeds the threshold set by HM Revenue and Customs (HMRC).

We have summarised the general election tax policies that parties have outlined in their campaigns so you can look out for potential changes.

With the deadline for P11D approaching it is important for employers to know the essential details about P11D forms and benefit in kind.

The 2024 UK Budget was announced on Wednesday, 6th March by Chancellor Jeremy Hunt. It outlines the government’s spending plans, UK tax policies, and economic goals for the coming year as well as introducing changes to existing legislation. In this blog, we will discuss the key points from the 2024 Budget.