Tax news
Succession Planning for Farms
Have you thought about succession and the long-term plans for your family farm? As agriculture makes up the highest concentration of family businesses passed through the generations, it is no surprise that succession is a key issue and is something farmers need to...
UK company size thresholds to increase
To cut complexity and burdens from legislative reporting requirements, the thresholds for company sizes in the UK are being increased by 50%. Following the Spring Budget, it has been announced by the Prime Minister Rishi Sunak that the company size thresholds will be...
The tax year ends on 5th April each year, why is this?
Well you can blame the Romans, especially Julius Caesar and Europe. Back in 1582 the Pope Gregory X111 commanded the change from the Julian calendar as there was a problem. It ran for 30 or 31 days for 11 months and it was only February that had 28 days (29 every 4...
Agricultural Property Relief – Changes Ahead
Government initiatives often shape the landscape of various sectors, and agriculture is no exception. Recent developments in the UK's environmental policies are set to bring significant changes to agricultural property relief (APR). Background In 2023, the UK...
Spring Budget 2024 Summary
Spring Budget 2024 Summary Chancellor Jeremy Hunt delivered his ‘Budget for Long Term Growth’ on Wednesday 6 March 2024. His speech promised ‘more investment, more jobs, better public services and lower taxes’. Lowering taxes The Chancellor made further changes to...
Spring Budget 2024 – Key Tax Announcements
Today, Chancellor Jeremy Hunt announced his 2024 Spring Budget where he summarised the UK economic performance and announced his proposals for tax. We highlight below some of the key tax changes announced. National Insurance Contributions cut From April 2024,...