With the rising cost of everyday essentials continuing to impact households and businesses alike, many clients have been asking us how they can better manage their money in the current climate.While no single solution fits everyone, there are several practical areas that can help ease the financial pressure. This blog sets out some straightforward steps…
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Roll out of new Minimum Wage Rates
Big news on the wage front. As of April 1, 2025, the UK has rolled out new National Minimum Wage (NMW) and National Living Wage (NLW) rates, giving millions of workers a well-deserved pay bump. Let's break down the numbers and chat about what this means for employers navigating these changes.New Wage Rates:National Living Wage…
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Beneficial interests in jointly held property
Couples who jointly own rental property are usually taxed 50:50, even if they own different shares. But if you're married or in a civil partnership, Form 17 lets you split income based on actual ownership-provided you meet HMRC's rules.The standard tax treatment for couples living together, whether married or in a civil partnership, is that…
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Making Tax Digital for Income Tax
Making Tax Digital for Income Tax (MTD for IT) will become mandatory in phases from April 2026. If you're self-employed or a landlord earning over £50,000, get ready for quarterly updates, digital record keeping, and a new penalty system.Initially, MTD for IT will apply to businesses, self-employed individuals, and landlords with an annual income exceeding…
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