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Amid the frequently repeated references to the £22bn ‘blackhole’ in the public finances and warnings
from the Prime Minister of a ‘painful’ Autumn Budget, it would appear that tax relief on pensions may be another area the Government seeks out to raise money.

We know Labour have had their eyes on pensions reforms. Their manifesto for the General Election stated: ‘We will also undertake a review of the pensions landscape
to consider what further steps are needed to improve pension outcomes and increase investment in UK markets.’

So, will we…

The Government has published a policy paper confirming the abolition of the Furnished Holiday
Lettings (FHL) tax regime.

It will mean that property investors will no longer get the existing tax benefits of FHLs from next April.

The previous Conservative government had unveiled plans to scrap it in the Spring Budget to help free up property stock and fund the National Insurance
cuts.

Published on 29 July, the documents set out confirmation of the move that was introduced in the Spring Budget in March under Rishi Sunak’s premiership.
The new Labour…

In four months’ time, the first reports are due for compliance with the new Digital Platform
Reporting rules.

The regime, introduced on 1 January this year, requires UK digital platforms to collect and report income information for sellers using their platforms.

The first reports must be submitted before the end of January 2025.

It’s all connected to the fact that the UK has signed up to the Organisation for Economic Development (OECD) Model Reporting Rules for Digital Platforms.

In recent weeks, HMRC published guidance for the rules around online marketplaces.

It has clarified…

The time for debate and conjecture is now over. The General Election was settled on 4 July and we now know we have a new Labour Government, giving us a more solid picture of what tax is likely to look like in the near future.

The new Chancellor Rachel Reeves wasted little time in getting started, announcing a Spending Audit in Parliament on 29 July.

In that speech, she reiterated the message that Labour delivered throughout the election that it will not be making major changes on the…

We regularly remind our self-employed clients of their obligations for filing to HMRC and the deadlines for sending in their Self-Assessment Tax Return, not least because of the significant penalties they can incur for failing to do so.

And there was a story in the media this month that highlighted the fact that people can still get hit with a fine, even if they don’t owe HMRC any tax.

Anyone earning under £12,570 – the Personal Allowance – doesn’t need to pay tax. But 95,000 people who fall…