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Agent Update: Issue 129

HMRC has published Issue 129 of the Agent Update, providing a round-up of updates and reminders for tax practitioners.

20 Mar 2025 00:00 | Published by a Tolley Corporation Tax expert

HMRC releases new CGT rate-change adjustments calculator

HMRC has published an online tool to calculate adjustments required to tax returns for the 2024–25 tax year as a result of the changes to the main rates of CGT on 30 October 2024.

18 Mar 2025 00:00 | Published by a Tolley Personal Tax expert

HMRC publishes new pension tax checker tool

HMRC has released a new online tool which allows individuals to check whether their pension payments are likely to be subject to income tax.

18 Mar 2025 00:00 | Published by a Tolley Employment Tax expert

SI 2025/352 The Social Security Benefits Up-rating Regulations 2025

These Regulations make provisions in consequence of the Social Security Benefits Up-rating Order 20251, SI 2025/295 which provides for the annual up-rating of social security benefits.

18 Mar 2025 00:00 | Published by a Tolley Personal Tax expert

Weekly Roundup HMRC Manuals: 17 March 2025

17 March 2025 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors

17 Mar 2025 00:00 | Published by a Tolley Corporation Tax expert

SI 2025/337 The Guardian’s Allowance Up-rating Regulations 2025

These Regulations make provision in consequence of the Child Benefit and Guardian’s Allowance Up-rating Order 2025, SI 2025/292 which provides for the annual up-rating of Child Benefit and Guardian’s Allowance.

14 Mar 2025 00:00 | Published by a Tolley Personal Tax expert

SI 2025/295 The Social Security Benefits Up-rating Order 2025

This Order is made to fulfils the statutory duty on the Secretary of State to review the rates of social security benefits and provide for the up-rating of certain benefits.

14 Mar 2025 00:00 | Published by a Tolley Personal Tax expert

SI 2025/327 The Help-to-Save Accounts Regulations 2025

These Regulations amend the Help-to-Save Accounts Regulations 2018, SI 2018/87.

13 Mar 2025 00:00 | Published by a Tolley Personal Tax expert

New agent service to help escalate and resolve PAYE and self assessment queries

HMRC has announced that it is introducing a new service for agents on 31‌‌‌ â€Œâ€ŒMarch 2025, to help escalate and resolve PAYE and self assessment queries.

13 Mar 2025 00:00 | Published by a Tolley Employment Tax expert

SI 2025/318 The Social Security (Contributions) (Re-rating) Consequential Amendment Regulations 2025

These Regulations amend Social Security (Contributions) Regulations 2001, SI 2001/1004 to up-rate the special rate of Class 2 National Insurance contributions payable by share fishermen.

13 Mar 2025 00:00 | Published by a Tolley Employment Tax expert

Update on HMRC Single Customer Account

A Treasury Minutes Progress Report provides an update on the HMRC Single Customer Account.

12 Mar 2025 00:00 | Published by a Tolley Personal Tax expert

Plans to increase the self assessment reporting threshold for trading income and other measures to deliver Plan for Change

The Government has announced that it plans to increase the income tax self assessment (ITSA) reporting threshold for trading income from £1,000 to £3,000 gross within this Parliament. Other measures to help HMRC deliver Plan for Change are also announced.

12 Mar 2025 00:00 | Published by a Tolley Corporation Tax expert

Updated guidance on applying for a refund of the higher rates of Stamp Duty Land Tax

HMRC has updated guidance to confirm that agents can now use the online form to apply for a refund of the higher rates of Stamp Duty Land Tax.

11 Mar 2025 00:00 | Published by a Tolley Personal Tax expert

Weekly Roundup HMRC Manuals: 10 March 2025

10 March 2025 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors

10 Mar 2025 00:00 | Published by a Tolley Corporation Tax expert

SI 2025/270 The Taxes (Interest Rate) (Amendment) Regulations 2025

These Regulations are made to increase the ‘official rate of interest’ applicable under section 178 of the Finance Act 1989 for the purposes of Chapter 7 of Part 3 of the Income Tax (Earnings and Pensions) Act 2003

07 Mar 2025 00:00 | Published by a Tolley Employment Tax expert

Deadline for voluntary NIC payments relaxed

Individuals have until 5 April 2025 to fill gaps in their National Insurance record dating back to 6 April 2006. HMRC has relaxed the deadline in certain circumstances.

06 Mar 2025 00:00 | Published by a Tolley Employment Tax expert

Welsh 2025-26 Budget approved

The Senedd has approved the Welsh Budget 2025-26.

06 Mar 2025 00:00 | Published by a Tolley Personal Tax expert

Non-doms joint sub-group minutes

The subgroup which is chaired by HMRC has published new minutes of meetings.

06 Mar 2025 00:00 | Published by a Tolley Trusts and Inheritance Tax expert

First-tier Tribunal ( Tax Chamber) updates guidance on pdf bundles

The First-tier Tribunal has revised its guidance on the preparation of pdf bundles that was first published in 2021.

04 Mar 2025 00:00 | Published by a Tolley Corporation Tax expert

Pension Schemes Newsletter 167- March 2025

HM Revenue and Customs (HMRC) has published Pensions schemes newsletter 167 for March 2025. The newsletter includes articles on managing pension schemes service, qualifying recognised overseas pension schemes (QROPS), lifetime allowance (LTA) abolition — lump sum reporting and relief at source.

04 Mar 2025 00:00 | Published by a Tolley Employment Tax expert

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Carried-forward losses restriction

Carried-forward losses restrictionOverview of the carried-forward loss restrictionAn important restriction in the use of losses carried forward was introduced by Finance (No 2) Act 2017. Subject to a de minimis of £5m (known as the deductions allowance), most carried-forward losses are restricted to

14 Jul 2020 11:09 | Produced by Tolley Read more Read more

What are connected companies for loan relationship purposes ― practical approach

What are connected companies for loan relationship purposes ― practical approachBrief overview of the rulesThe loan relationships legislation applies to any ‘money debt’ arising from the lending of money entered into by a company, either as a lender or borrower. The rules are contained in CTA 2009,

20 Apr 2021 16:00 | Produced by Tolley Read more Read more

Tax on UK resident beneficiaries of non-resident trusts ― overview

Tax on UK resident beneficiaries of non-resident trusts ― overviewIntroductionUK resident beneficiaries of non-resident trusts are subject to UK tax on payments or benefits received from the trust. They are liable for income tax on income distributions from the trust and they may also be liable to

14 Jul 2020 13:47 | Produced by Tolley Read more Read more