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Stay in the know with the latest updates and news from Integrity Partnetship
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Working within Accountancy and Taxation, we are always evolving our services, keeping in line with new government legislation and exploring new technology to support our digital accountancy services.
How to claim a tax refund
If you believe you have overpaid tax to HMRC, you can typically claim a tax refund for the excess amount. The process for making a claim varies depending on factors such as whether you submit a
Limits on Income Tax reliefs
The limit on Income Tax reliefs has applied since 6 April 2013. This measure was the first time a limitation to existing reliefs had been introduced.
The cap is set at the greater of 25% of income or
Tax changes for Furnished Holiday Lets property owners
The current tax benefits for the letting of properties as short-term holiday lets (known as Furnished Holiday Lets – FHL) is to be abolished from April 2025. The changes will take effect on or after 6
An overview of salary sacrifice arrangements
A salary sacrifice arrangement involves an agreement by an employee to lower their cash salary in exchange for non-cash benefits. Importantly, this reduction must not bring their earnings below the
Types of tax allowances for capital expenditure
Capital allowances enable businesses to claim tax relief on certain capital expenditures. Different rules apply to various types of capital expenditure, and the amount you can claim depends on the
Bank of England eases base rate to 4.75%
The Bank of England’s recent decision to reduce the base rate to 4.75% brings several potential benefits to various sectors of the UK economy. Let’s explore these advantages in detail.
Reduced
EV or diesel – for and against
When evaluating the annual running costs of electric vehicles (EVs) compared to diesel cars, several key factors come into play: fuel (or electricity) expenses, maintenance, insurance, taxation, and
Tax Diary December 2024/January 2025
1 December 2024 – Due date for Corporation Tax payable for the year ended 28 February 2024.
19 December 2024 – PAYE and NIC deductions due for month ended 5 December 2024. (If you pay your tax
Budget confirms change in non-dom tax status
It was confirmed as part of the Autumn Budget measures that changes announced by the previous government at the Spring Budget earlier this year will proceed almost entirely as initially announced.
Payrolling of benefits in kind
At Autumn Budget 2024, the government confirmed that it will go ahead with a simplification measure first announced in January 2024. This new measure will mandate the reporting of Income Tax and Class
Taxation of double cab pick-ups
The tax treatment of double cab pick-up vehicles (DCPUs) has been clarified as part of the recent Budget announcements. This follows a chequered history of the tax treatment of DCPUs after a 2020
Changes to Agricultural and Business Property Relief
It was announced as part of the Budget measures that the government will reform these reliefs from 6 April 2026. The existing 100% rates of relief will be maintained for the first £1 million of
Help to Save scheme extended
As part of the recent Budget measures, it has been confirmed that the Help to Save scheme is to be extended by a further 2 years, until April 2027. The last date an account can be opened under the
Changes to HICBC
It was announced as part of the Autumn Budget measures that the government will not now proceed with the reform to base the High Income Child Benefit Charge (HICBC) on household incomes.
To make it
Keeping an eye on competitors
Keeping an eye on competitors offers crucial advantages, especially in a dynamic market. Here’s why it pays off:
Improving Market Positioning
By observing competitor pricing, branding, and marketing
R&D receives a welcome boost in the Budget
As part of the October Budget the Chancellor announced the highest ever level of government investment of £20.4 billion in research and development for next year, reinforcing the government’s
Autumn Budget 2024 – Minimum Wage increases
The Chancellor of the Exchequer, Rachel Reeves announced significant increases to the Minimum Wage rates on the eve of the Budget. The Chancellor confirmed that the government has accepted in full the
Autumn Budget 2024 – NIC changes
As had been widely predicted, the Chancellor announced increases to the rate of National Insurance contributions (NICs) that are paid by employers. The main rate of secondary Class 1 NICs will
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