Tax Talk

Tax year end compliance requirements for employers

Tax year end compliance requirements for employers

Date posted: 14th Apr 2025

The end of the 2024/25 tax year means that many employers will be submitting various compliance forms to HMRC in the coming months.

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Daily penalties – watch out from 1 May 2025

Daily penalties – watch out from 1 May 2025

Date posted: 14th Apr 2025

If your 2023/24 tax return has not been submitted to HMRC, then you are likely to face £10 daily penalties, if this remains the case from 1 May 2025.

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PAYE only taxpayer – a 2024/25 Return may not be required…but…

PAYE only taxpayer – a 2024/25 Return may not be required…but…

Date posted: 14th Apr 2025

HMRC have announced that anyone with only PAYE income, will not be required to complete a 2024/25 tax return.

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Should we pay a dividend before the end of the tax year?

Should we pay a dividend before the end of the tax year?

Date posted: 27th Mar 2025

If you are the owner of a personal or family company, it is prudent to review your dividend strategy before the 2024/25 tax year comes to an end…

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Spreading the cost of selling your company – Cash or loan notes (earn-outs) – What are the tax implications?

Spreading the cost of selling your company – Cash or loan notes (earn-outs) – What are the tax implications?

Date posted: 27th Mar 2025

There comes a time in every business owner’s life when retirement looms and thoughts turn to succession planning. Planning should ideally start 2-3 years before the date of…

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End your FHL business by 5 April 2025 to benefit from existing reliefs

End your FHL business by 5 April 2025 to benefit from existing reliefs

Date posted: 27th Mar 2025

The favourable tax regime that applies to landlords letting furnished holiday accommodation comes to an end on 5 April 2025. For 2025/26 and later tax years, furnished holiday…

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Relief for interest on mixed residential and commercial properties

Relief for interest on mixed residential and commercial properties

Date posted: 27th Mar 2025

The way in which unincorporated landlords obtain relief for interest depends on the nature of the property that they let. Where the property is a commercial property, the…

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Making Tax Digital for individuals – it’s coming…

Making Tax Digital for individuals – it’s coming…

Date posted: 27th Mar 2025

From April 2026, some individuals will be required to comply with Making Tax Digital (MTD). This will apply for those individuals who have a combined annual income from…

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Sold a residential property – don’t forget the 60-day reporting deadline

Sold a residential property – don’t forget the 60-day reporting deadline

Date posted: 27th Mar 2025

For almost five years now, HMRC have required individuals to report sales of UK residential property within 60 days of the sale. This applies for UK residents where…

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REMINDER – PLEASE SEND US HMRC CORRESPONDENCE

REMINDER – PLEASE SEND US HMRC CORRESPONDENCE

Date posted: 19th Feb 2025

We have noted on certain occasions HMRC have not replied to our correspondence, instead replying to the taxpayer as if they had written the letter, we have sent…

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