Student loans and basis period reform
New guidance from HMRC confirms that profits used to assess student loan repayments and entitlement to student finance will include transitional profits from basis period reform.
Subpostmasters’ compensation
There are currently three forms of compensation being awarded to subpostmasters following the Horizon scandal and each will have different tax implications.
Mandatory payrolling of benefits
The reporting and paying of income tax and Class 1A national insurance contributions on benefits in kind is to be made mandatory via payroll software from April 2026.
High income child benefit charge threshold increased
The threshold for earnings above which you have to pay back some or all of your child benefit will be increased from 6 April 2024.
Two new products for UK savers
Two new savings products have been announced, aimed at supporting growth of UK companies and encouraging a culture of saving.
Furnished holiday lets relief to be scrapped
Owners of furnished holiday lets will lose their entitlement to favourable income tax, capital gains tax and capital allowances as the FHL scheme is abolished.