The changes to the High Income Child Benefit Charge (HICBC), introduced in the Spring Budget, came into effect on 6 April 2024. The income threshold for the HICBC has been raised from £50,000 to £60,000. Now, the HICBC is charged at 1% of the total Child Benefit award for every £200 (previously £100 in 2023-24)

Business Asset Rollover Relief, commonly known as CGT Rollover Relief, offers a valuable opportunity for taxpayers to defer Capital Gains Tax (CGT) on gains from selling or disposing of certain business assets. By reinvesting the proceeds into new business assets, taxpayers can postpone the CGT liability. The gain from the old asset is effectively transferred

The Annual Tax Summary, provided by HMRC, offers a detailed overview of the taxes you’ve paid and how these funds are utilized by the government. Here’s what the Annual Tax Summary includes: Your Taxable Income: A record of all taxable income that HMRC was aware of at the time of preparation. Tax Rates and Contributions:

Hey there, parents! With Easter just around the corner, it’s time to start planning for the school holidays. And guess what? HMRC wants to give you a friendly reminder: you might be eligible for Tax-Free Childcare (TFC) to ease the burden of childcare costs during this time. So, what exactly is the TFC scheme? Well,