Want to make the most of your pension savings? You could claim up to 45% tax relief on contributions, plus carry forward unused allowances. Here’s how to boost your retirement pot with generous HMRC incentives. Tax relief on private pension contributions is generally available up to 100% of your annual earnings, subject to specific limitations. […]
Author Archives: Hardings
Child Benefit has risen for 2025-26: £26.05 for eldest, £17.25 for others. Claim continues to age 20 in approved education. HICBC still applies for incomes over £60K – but PAYE option coming this summer! The child benefit rates for the only or eldest child in a family increased to £26.05 (from £25.60) for the 2025-26 […]
The UK government has announced a record-breaking £13.9 billion in research and development (R&D) funding for the coming year. This major investment is designed to drive innovation, create quality jobs, and support long-term economic growth across the country. A large share of the funding, amounting to £8.8 billion, has been allocated to UK Research and […]
HMRC has announced that interest rates for late payments will increase by 1.5% for all taxes starting 6 April 2025. This change, which was first announced at Autumn Budget 2024, will raise the late payment interest from the current base rate plus 2.5% to base rate plus 4.00%. This adjustment applies to most taxes. Late […]
The Spring 2025 Tax Update brings a series of reforms aimed at simplifying tax administration and reducing burdens for UK businesses. Here’s a breakdown of the key changes: 1. Capital Goods Scheme Simplification The government plans to simplify the Capital Goods Scheme by removing computers from the assets it covers and increasing the capital expenditure […]
If you’re approaching retirement age and want to ensure you’re on track to receive your full State Pension, it’s crucial to check your entitlements. Here’s a step-by-step guide to help you navigate the process using official UK government resources. 1. Determine Your State Pension Age The State Pension age is the earliest age you […]
In a significant move aimed at bolstering British businesses, Chancellor Rachel Reeves has unveiled a comprehensive plan to ensure a level playing field in international trade. Announced during the IMF Spring Meetings in Washington D.C., the initiative seeks to address unfair trading practices and support domestic industries facing challenges from global competitors. Tackling Unfair Trade […]
1. Determine If You Need to Follow Export Procedures Export procedures apply when you’re moving goods permanently from: England, Wales, or Scotland (Great Britain) to a country outside the UK Northern Ireland to a country outside the UK and the EU Different rules apply if you’re: Moving goods between Great Britain and Northern Ireland Sending […]
In a significant move to bolster British businesses amidst evolving global trade dynamics, the UK government has unveiled a comprehensive support package aimed at enhancing financial backing and fostering growth across various sectors. Strengthening Financial Support for Exporters Central to this initiative is the expansion of UK Export Finance (UKEF) capabilities, with an additional £20 […]