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Latest blog posts

Mini-Budget 23 September 2022

Ian Marlow

This so-called mini-budget actually morphed into a series of major  announcements by the new Chancellor Kwasi Kwarteng. The expected reversal of the 1.25% increase in National Insurance contributions in the current tax year was confirmed and will apply from 6 November 2022. A summary of the main tax changes that will impact the liability of individuals and...

Interest on tax paid late

Ian Marlow

HMRC interest on tax paid late has greatly increased recently. As the Bank of England base rate recently increased, HMRC has raised its interest rates on late tax bills to 4.25%. That's the highest level  since January 2009. HMRC interest rates are shown in the following tables The current late payment and repayment interest rates applied to...

Changes to capital gains on separation or divorce

Ian Marlow

You should be aware of proposed changes to capital gains on separation or divorce. Under present legislation any transfer of assets between couples who are separating, or divorcing are free of any Capital Gains Tax (CGT) liability as long as the assets are transferred during the year of separation/divorce. This places undue pressure on couples to...