You may have seen one of the early 2024 tax stories popping up in many of the national newspapers relates to a so-called ‘side hustle tax’. Is it really a tax? No. Yet we’re seeing it reported as a ‘New Year tax clampdown’ and similar such descriptions. Unfortunately, it has led to concern, particularly on social media where some people have perhaps misunderstood or misinterpreted what’s happening.

At the centre of this is new data-sharing rules coming into force this month that will affect holiday homeowners, delivery drivers, and…

Scammers are targeting people’s online tax accounts and attempting to steal
sensitive personal data, HMRC officials have warned. It’s been reported by the Institute of Chartered Accountants in England and Wales
(ICAEW) that various accountants’ clients have received emails, which are described by HMRC as “a tactic by scammers to direct people to
a phishing site and steal personal details.”

The emails purport to be from the Government Gateway and contain a confirmation code
to confirm an email address. “If such requests are received, these should be reported to…

Are you aware of Business Asset Disposal Relief (BADR)? You may
not have heard of it before, but you probably are familiar with Capital Gains Tax (CGT). BADR is a type of CGT relief.
It becomes relevant if you’re selling all or part of your business.

It used to go by another name – Entrepreneurs’ Relief – before 6 April 2020. If you are a business owner or a sole
trader, it could reduce the tax you have to pay. To qualify for relief, both of the following must…

As a business owner or as a self-employed person, you may have costs from time to time
for training. It may be for yourself or for an employee. Some businesses may have found it hard to understand the current guidance on which training
costs are tax-deductible. So, you may be pleased to know further guidance is set to come in this area. HMRC has said it will be coming forward with
clarifications.
HMRC says the new guidance will help businesses to be “confident that updating existing skills or maintaining pace…

Many of you will have watched the Chancellor Jeremy Hunt delivering
his Autumn Statement a few weeks ago. You may have watched the whole speech or just seen clips on news programmes later in the day.
As always, many announcements were made and there was plenty to digest.
The actual statement is the bit most people are familiar with, but what happens next? What’s the process? Which announcements are set
to become reality and how soon?
Whenever a government announces new taxation in a Budget or Spring or Autumn Statement,…