Labour’s First Budget: Potential Tax Changes and Implications

Keir Starmer yesterday announced that Labour’s first budget in over 14 years could be “painful” and prompted fears of that unpopular tax rises will be amongst the announcements. Chancellor, Rachel Reeves, has already confirmed that her statement will bring fresh tax rises as she says more needs to be done to fill the Government’s shortfall […]

Inheritance Tax Implications Regarding the General Election

Following on from the webinar we hosted earlier this month on the basics of Inheritance Tax (IHT), we thought it would be useful to tie this in with our latest tax article ahead of the upcoming General Election. As the general election approaches, the issue of IHT is once again at the forefront of political […]

HMRC New Tool for Voluntary National Insurance Contributions

In the UK, the National Insurance (NI) system serves as a fundamental pillar of the welfare state, providing financial support and services to individuals throughout their lives. National Insurance Contributions (NICs) require mandatory payments made by most employees, employers, and self-employed individuals to fund state benefits, including the State Pension, statutory sick pay, and unemployment […]

Tips for Preparing Your Self-Assessment Tax Returns

As we approach the end of the current tax year, individuals and businesses are gearing up for the annual task of collating their information to enable them to file their Self-Assessment Tax Returns with HM Revenue & Customs (HMRC). This process can often seem daunting, but with careful preparation and organisation, it can be managed […]

Autumn Statement 2023 – Main Highlights

The Autumn Statement provided personal tax cuts, a State Pension triple-lock guarantee for April 2024, greater ISA freedoms and consultations around a new lifetime pension. Yesterday afternoon, Chancellor Jermey Hunt laid out his plan to help ease the cost-of-living squeeze and ‘turbo-charge’ UK economic growth. If you didn’t manage to watch or hear the Statement […]

Juggling Christmas Festivities and the Self-Assessment Tax Return Deadline

As the festive season draws near, the excitement of Christmas is palpable across the country, particularly here in Wigan. With the streets of Standish bedecked in twinkling lights, the scent of spiced mulled wine wafting through the air in Scholes, and the melodies of carols echoing in bustling market squares of the town centre, it’s […]

Spring Budget 2023 – The Highlights

The long-awaited Budget was delivered by Jeremy Hunt earlier today, his first as Chancellor of the Exchequer. Being billed by the Government as one that will encourage people back to the workforce and boost the UK’s economy growth, the Chancellor opened his budget speech with “today we deliver the next part of the plan, a […]

HMRC introduce New VAT Penalty Regime

HMRC have introduced changes to the way VAT registered businesses will be penalised if they don’t submit their VAT Returns and/or pay VAT liabilities owed, on time. The new regime will kick in for accounting periods starting on or after 1 January 2023 and these changes aim to simplify and separate penalties and interest charged. […]

Autumn Statement 2022 – The Highlights

Jeremy Hunt delivered his first Autumn Statement this afternoon and has promised the government will deliver a plan to tackle the cost-of-living crisis and rebuild the UK economy. The chancellor says his priorities are stability, growth, and public services, and is providing “fair solutions” despite taking “difficult decisions”. With this, the Chancellor has announced tens […]

NRB tax goes further

Death, Taxes, and a great service at NRB, are just the three things certain in life. We jest, of course, taxes aren’t always certain. Especially when you are waiting for an Uber… When people hear the word tax, they immediately think of this as an expense. Which, in theory it is. Yet at NRB, when […]