News & Knowledge

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HMRC notices

Deduction of tax on yearly interest

The tax legislation requires the deduction of tax from yearly interest that arises in the UK. This typically refers to interest that is subject to Income Tax or Corporation Tax.

The legislation

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HMRC notices

Are casual payments taxable?

Not all casual payments are tax-free; HMRC’s miscellaneous income rules may apply depending on the circumstances.

The special miscellaneous income rules sweep-up provisions that seek to charge tax on

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HMRC notices

War Widows Recognition Payments Scheme

Bereaved spouses who lost service pensions before 2015 have until 15 October 2025 to claim a one-off £87,500 recognition payment.

This scheme was launched in October 2023 to help war widows and

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HMRC notices

Higher penalties for MTD filers

Making Tax Digital for Income Tax will become mandatory in phases from April 2026. If you are self-employed or a landlord earning over £50,000 you need to start preparing to submit quarterly updates,

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