Month: February 2025

IHT and CGT tax receipts

Written by Tony Shackleford on February 26, 2025.

IHT tax receipts for 2024/25 are forecast to be the highest on record, with tax revenue being in excess of £7.5 billion. The increase can be put down to the rapidly increasing house prices, which increase...

Capital gains tax, CGT, IHT, Inheritance Tax

Road Tax on Electric Cars

Written by Tony Shackleford on February 21, 2025.

From April 2025 road tax becomes payable by the owners of electric cars. Prior to this date no road tax was payable. The car tax rate will be £10 for the first 12 months for new cars. For cars already...

Electric cars, electric cars road tax, Road tax, road tax on electric cars

Audit Threshold Chnages

Written by Tony Shackleford on February 17, 2025.

As a general rule, Small Companies are not required ot have their annual statutory accounts audited. From 6 April 2025 the definition of Small Companies is changing. In order for a company to be a Small...

Audit, Audit rules, audited accounts, Small companies

Tax Return Deadline

Written by Tony Shackleford on February 5, 2025.

HMRC have announced that in excess of 1 million tax payers failed to file their tax returns by the deadline of 31 January 2025. This represents about 8% of the total number of tax returns which had...

Late filing, Self Assessment Tax, tax return deadline

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Month: February 2025

IHT and CGT tax receipts

Road Tax on Electric Cars

Audit Threshold Chnages

Tax Return Deadline