Thompson Elphhick News
When it comes to pensions, it is of paramount importance to Re-DOC on time!
A tribunal recently ruled on the failure of a private limited company, El Recruitment Ltd., to submit its Re-DOC before the statutory deadline as required under the 'Employer Duties' of the Pensions
The Likely Effects of Employers’ NIC Increases in 2025
The upcoming increase in Employers’ National Insurance Contributions (NICs) is set to have significant repercussions for UK businesses. Employers’ NICs are essentially a tax on wages, paid by
Fuel prices report by Competition and Markets Authority (CMA)
Fuel margins of retailers - the difference between what a retailer pays for its fuel and what it sells at - remain around the high levels seen during the CMA’s road fuel market study. Supermarket
How Council Tax is calculated
To calculate your Council Tax, you need to know the following: The valuation band of your property in England, Wales, or Scotland The amount your local council charges for that band Whether you
Changes to CGT Investors’ Relief
The rate of Capital Gains Tax (CGT) for Investors’ Relief will rise from 10% to 14% for disposals made on or after 6 April 2025. It will then increase further to 18% for disposals made on or after 6
Gifts of land and buildings to charities
There are special rules in place for taxpayers who make gifts of land and buildings to charity. This can include Income Tax and Capital Gains Tax (CGT) relief provided all the necessary conditions are
Seven year rule still applies – IHT PETs
There are specific rules regarding the liability to Inheritance Tax (IHT) on gifts made during a person's lifetime. In most cases, gifts made during a person’s life are not taxed at the time they are
Landlords with undeclared Income
The Let Property Campaign provides landlords who have undeclared income from residential property lettings in the UK or abroad with an opportunity to regularise their affairs by disclosing any
Approaching the VAT registration threshold
When approaching the VAT registration threshold there are important matters to consider. The VAT registration threshold is the point at which businesses must register for VAT with HMRC. A business
What are your concerns?
According to the Office for National Statistics as of October 2024, the primary concerns among individuals in the UK are: National Health Service (NHS): 85% of adults identified the NHS as a
What does EBITDA stand for?
EBITDA stands for Earnings Before Interest, Taxes, Depreciation, and Amortisation. It's a widely used financial metric that provides a measure of a company's operating performance, excluding the
Car and van fuel benefit charges from 6 April 2025
The vehicle benefit charges for 2024-25 were announced at Autumn Budget 2024. The government will introduce legislation by statutory instrument in December 2024 to ensure the changes are reflected in