Tax tips newsletter for professionals

Rachel Reeves’ first Budget on 30 October 2024 left many employers reeling with the news that employer’s National Insurance contributions (NICs) are to rise from 13.8% to 15% from 6 April 2025. This was compounded by a lowering of the secondary threshold from £9,100 (£175 per week; £758 per month) to £5,000 (£96 per week; £417 per month) from the same date. 

Sarah Bradford considers how salary sacrifice schemes can be used to save National Insurance contributions.

On 30 October 2024, an open consultation was published by HMRC entitled ‘Technical consultation: Inheritance Tax on Pensions: liability, reporting and payment’; the consultation ran for 12 weeks between 30 October 2024 and 22 January 2025. The proposals will apply to UK-registered pension schemes (and so-called ‘QNUPS’ (qualifying non-UK pension schemes)). The new changes will operate in practice from 6 April 2027.

Malcolm Finney looks at the key inheritance tax changes in relation to pensions proposed in Autumn Budget 2024.

With capital gains tax (CGT) under scrutiny before and after the Autumn Budget 2024, the question is: what now happens with assets owned by a divorcing couple and becoming part of a financial order? 

Jon Golding looks at the new rules relating to capital gains tax arising from a couple’s divorce.

Selling a business can be a complex matter. One of the points to consider is the VAT consequences of the sale. When you sell your business, you can either do it by a share sale (if it is a company) or you can sell the trade and assets.  

Andrew Needham looks at VAT consequences of selling a business.

Mark McLaughlin reviews two recent important tax cases:

Capital allowances represent a cornerstone of UK tax relief for businesses, enabling them to reduce tax liabilities and promote growth. In 2025, if businesses are to thrive and stay ahead of the curve, they must adapt accordingly to stay competitive in this economic environment.

Vasileios Romaios considers how to stay ahead of tax-efficiency with the latest capital allowance strategies.

The decision whether to operate a trade or profession as a company or partnership may well involve many factors; tax is likely to be high up on the list.  

Chris Thorpe considers the ‘pros’ and ‘cons’ of partnerships and companies for operating a trade or profession.