On 18 December 2025, the Bank of England reduced its main interest rate from 4% to 3.75%. This is the lowest level in nearly three years. The
The Chancellor, Rachel Reeves, has delivered the first Autumn Budget of this Parliament. She called it “a decade of national renewal.” This Budget brings real, immediate
The Bank of England (BoE) issued a sharp warning on 8 October 2025, cautioning that certain AI and technology stocks may be overvalued, particularly those
The Bank of England and HM Treasury began formally considering a national digital currency in 2021, launching a joint taskforce to explore what’s now called
Chancellor Rachel Reeves has confirmed the Autumn Budget will take place on 26 November 2025. As with the Spring Statement earlier this year, this annual
The UK economy may look like it’s picking up speed. In the second quarter, GDP rose by 0.3%, a sign that things are moving in
HMRC recently updated their Transformation Roadmap to making the UK’s entire tax systems entirely digital by 2030. By 2028, HMRC expects 90% of tax interactions
Legend Financial is delighted to announce our new partnership with Portman Finance Group. This collaboration marks an exciting step forward. Access to the right financial
From 18 November 2025, identity verification will be mandatory with Companies House, and failure to comply may lead to a criminal offence. Over 6 million
HM Revenue & Customs (HMRC) has launched a new enforcement campaign aimed directly at company directors. If you are a director who had a loan
Do you have a side hustle going online? Maybe you are selling some amazing crafts on Etsy, renting out rooms on Airbnb, or perhaps earning from your skills on Upwork.
The days of crypto anonymity are coming to an end. From January 2026, HMRC will begin receiving automatic data on UK taxpayers’ cryptoasset activities from
The removal of P11D forms, replaced by mandatory payrolling of benefits in kind (BIK) by April 2026, is deferred for 12 months. This was first
From 6 April 2025, changes to company car tax came into effect. These new rates can affect how much Benefit-in-Kind (BIK) tax you pay. These
HMRC is currently writing to people that have been impacted by an old administrative error. This error was related to Home Responsibilities Protection (HRP). If
Chancellor Reeves delivered her Spring Statement speech on 26 March 2025, and contrary to the historical two Budgets per year, there will now be one
On 1 April 2013, the Annual Tax on Enveloped Dwellings (ATED) was implemented wherein Non-Natural Persons (NNPs) who have more than £500,000 worth of interest
Chancellor Rachel Reeves has made it clear: tax evasion will be dealt with swiftly and strictly this year. HMRC is teaming up with Companies House
From 1 April, the National Minimum Wage saw another set of increases. These are the changes from the last year
Chancellor Rachel Reeves delivered her first Budget on 30 October 2024 aimed at “national renewal.” The Budget offers some relief to low-income workers, whilst businesses
On 29 July 2024, the UK government announced a draft legislation on removing private school’s VAT exemption status, alongside business rates, effective in January 2025.
The Labour Party officially won in Parliament on the last 4 July 2024 general election. It was a majority win, ending the Conservative Party’s 14-year
The identity verification requirement placed on new and existing directors and people with significant control (PSCs) was introduced under the Economic Crime and Corporate Transparency
Since 3 June 2024, HMRC launched another one-to-many (OTM) letter campaign, this time specifically aimed at businesses suspected of using till systems to hide or
HMRC is updating late payment penalty rules to prevent tax avoidance. Currently, HMRC can assess a second penalty when the full amount of outstanding tax
The government recently launched a new digital service called Check Your State Pension forecast, a joint service between the Department for Work and Pensions (DWP)
The non-dom tax status regime is set to be abolished by 6 April 2025, surprising many wealthy non-domiciled people with the speedy implementation. More commonly
On 22 April, HMRC will initiate the pilot phase of Making Tax Digital (MTD) for income tax self-assessment. Craig Ogilvie, Director of MTD, has reached
Starting from Spring 2024 in May, taxpayers accessing HMRC’s online services for the first time will need to create a GOV.UK One Login account instead
Last 6 March 2024, the chancellor announced the details of the latest Spring Budget. Here are how the Budget announcements could affect different aspects of
Chancellor Jeremy Hunt has presented the details for the Spring Budget in the House of Commons, the last scheduled before the anticipated general election later
Despite the Institute for Fiscal Studies’ warnings against tax cuts without clear funding sources and the increasing economic pressure on the government, Chancellor Jeremy Hunt
HMRC is currently scrutinising companies’ claims on annual investment allowance (AIA), which is subject to an annual limit of £1,000,000 from 2019. AIA is a
HMRC issues another one-to-many letters to corporations and individuals; this time, on unreported shares disposal income for capital gain tax purposes (CGT). The letter outlines
Beginning 4 February 2024, HMRC has been distributing one-to-many letters specifically targeted at suspected company directors, prompting them to disclose their potentially unreported dividend profits.
Seeing more ‘headroom’ to wiggle for tax cuts, Chancellor Jeremy Hunt is set on giving ‘crowd-pleasing measures’ before the general election, which may potentially allot
Beginning January 2024, HMRC is stringently clamping down taxes on side hustle incomes to prevent tax evasion through the new data-sharing rules. The new tax
Chancellor Jeremy Hunt hopes to implement further tax cuts before this year’s general election believing it is the shortcut way to enhance the UK economy, which may
People who earn income from ‘side hustles’ will be taxed beginning January 2024. The UK signed up to the Organisation for Economic Cooperation and Development’s
Last 6 January, the 2p Class 1 National Insurance (NI) tax cut took effect, benefiting 27 million taxpayers in the UK, as announced in the
HMRC sends one to many letters to different taxpayer groups or agents for various purposes, with content ranging from pure information to prompts. UK landlords
A lot of tax changes are to take effect this year, calling for major tax planning and preparation for both individuals and businesses. Businesses most
The UK government announced last week Monday that Carbon Border Adjustment Mechanism (CBAM) will be officially implemented in 2027, which will include aluminium, cement, ceramics,
Contents Scotland’s deputy first minister and finance secretary Shona Robison announced on Tuesday the Scottish Budget Statement at Holyrood, which highlighted the new advanced rate
Contents HMRC’s tax avoidance suspicions toward huge multinational companies will be recurring, as long as lack of tax treatment transparency remains. TaxWatch’s latest scrutiny shows
Contents Interior Minister James Cleverly announced on Monday new measures for immigrants, which is to take effect from next year’s Spring Statement, aimed at cutting
On 22 November 2023, Chancellor of Exchequer Jeremy Hunt announced the Autumn Statement for the year, alongside the Office for Budget Responsibility’s (OBR) economic forecasts.
The decline in payroll figures showed an increasing unemployment rate to 3.9% for the first time in two years. There are clear indications of reduced
Recent data from Rightmove shows that new first-time buyers in the UK are paying nearly £200 more per month on their mortgages than they did
Amidst the current cost of living crisis, Britain’s largest supermarkets are facing calls for an investigation by the UK’s competition watchdog over claims of profiteering.
Before the upcoming general election, Prime Minister Rishi Sunak is considering lowering the country’s inheritance tax, citing people familiar with the situation. Sunak was enthusiastic
The government has altered charitable relief regulations to support the UK’s philanthropic sector. This legislation changes particular goals, the new limitations and specifications for charities
Employers must submit and modify forms P11D and P11D (b) online, except for those digitally excluded. Forms P11D and P11D (b) on original or amended
The UK government is projected to present significant tax relief to its petrol and oil industries in the coming week. Rishi Sunak, the prime minister,
On 15 March 2023, the Chancellor of the Exchequer created the Budget with assistance from his department, the Treasury, and told the MPs that the
A business that charged people a considerable amount to file claims for tax refunds without further transparency has been shut down. Once HMRC determined that
The government revealed the new National Living Wage (NLW) rates that will be in effect starting in April 2023. The NLW will now be at
The UK’s economic picture has become worrisome as the budget deadline draws nearer daily. Nevertheless, a glimmer of hope has been provided, which might allay
On Thursday, 9 February, senior council members at Stafford Borough Council suggested amendments to the Local Council Tax Reduction (LCTR) programme, which would result in
Electric cars are a more environmentally beneficial option than using a diesel or gasoline engine. Working individuals can take part in this by reducing their
As part of a £600 million support package to assist Britain’s two largest steelmakers, British Steel and Tata Steel, in investing in greener technologies and
Intending to ensure that the programme is modernised, affordable, and in better compliance, the government announced proposed legislation in July 2022 addressing significant modification to
Deputy First Minister John Swinney spoke about the government’s tax and spending proposals, focusing on the NHS and social security. Despite households battling a cost
According to new research, UK grocers and supermarkets will receive a tax break worth about £550 million over the next three years. It comes after
Significant progress in bilateral trade between the UK and Brazil occurred on November 29, 2022, when they signed a Double Taxation Agreement (DTA). Due to
On the Autumn Statement 2022, Chancellor Jeremy Hunt announced that an increase of up to 6 per cent in the corporation tax rate for companies
The van benefit and fuel benefit data for automobiles is one of the important news for mid-December 2022. From 6 April 2023, the van fuel
Based on recent data from the trade association British Retail Consortium, meat, eggs, and milk prices increased to new records in November, a “bleak” winter
The government provides an expanded programme to insulate Britain’s draughtiest homes, helping households potentially save up to £310 per year. Beginning in the spring of
With the transition to Making Tax Digital (MTD) and the need for VAT-registered firms to file VAT returns using MTD-compliant software starting in November 2022,
Beginning in November 2022, two batches of nudge letters will be distributed. These are meant to urge recipients to disclose any identified unpaid UK tax
When announcing the UK government’s spending plans, Chancellor of the Exchequer Jeremy Hunt is considering obtaining extra revenue from inheritance tax to plug a £35
Sole traders, landlords, and other businesses earning from multiple resources or on ordinary partnerships that earn more than £10,000 annually have already been required from
Following chaotic few days after Liz Truss’ resignation, Rishi Sunak is to become the new prime minister of the United Kingdom.
The surprising moves by new finance chief Jeremy Hunt, parachuted into the job on Friday to replace sacked Kwasi Kwarteng, leaves Truss’ position in a
The central bank is gradually raising interest rates as Britain undergoes significant change, including a new government and monarch, to prevent high inflation from spreading
The financial crisis brought on by the mini-budget, which prompted the Bank of England (BOE) to seek a £65 billion emergency bailout, was centred on
Chancellor Kwasi Kwarteng announced last 23 September his mini-budget or “Growth Plan,” which is considered to have implemented the biggest tax cuts in a generation.
The UK government borrowed £11.8bn in August in preparation for helping the public with the soaring costs of living, which is almost twice as much
The new Prime Minister Liz Truss tackles severe economic headwinds with bold measures for the skyrocketing energy bills. Hours before the Queen’s death, she announced
After a summer-long internal campaign triggered by Boris Johnson’s resignation in July, Liz Truss defeated her competitor, former finance minister Rishi Sunak, by 81,326 votes to
Beginning on 4 April 2022, effective in Wales and England, the government requires tax checks on individuals, business partners, or those who operate through company
Rishi Sunak showed concerns regarding the pressure and living standards in the light of tax scenarios as he stated that cutting taxes now without balancing
The government has released a draft tax legislation before its potential inclusion in the Finance Bill 2022–2023 to allow for technical consultation. The upcoming Finance
The UK government announced last February three different schemes of energy support to aid energy consumers in the present crises in which the energy suppliers
The G7 countries, with the most advanced economies, are nevertheless affected by the current global economic issues just as the rest of the world, with
To help with the cost of living crisis, the British prime minister Boris Johnson and chancellor Rishi Sunak announced the single biggest tax cuts of
For the fifth time in a row, the Bank of England (BoE) announced another hike in interest base rate by a quarter-point, now totaling to
The UK is currently seeing its worst cost of living crisis for decades, with inflation at a 40-year high and wages decreasing. The Chancellor reported
To tackle the rising energy costs that skyrocketed the price of living in the UK, the government has announced on the third of February a
Due to the high increase in global oil and gas prices, the inflation rate in the UK is running at 9%. The public authority has
According to the Office for National Statistics, the United Kingdom’s consumer increase in price reached 7% last month, exceeding economists’ prognostications for the sixth month
Inflation has kept expanding by 8 percent at rates not found in many years since the October 2021 Spending Review. Subsequently, Legend Financial assesses that
“The UK government introduced Coronavirus Job Retention Scheme to help the employees during the COVID-19 pandemic.” CJRS implies that an employer should give eighty per
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The quickest way from A to B is usually a conversation. So, if you want to find out more about how Legend Financial can boost your business, get in touch. We’ll give straight answers so you can make a confident decision, fast.
On 18 December 2025, the Bank of England reduced its main interest rate from 4% to 3.75%. This is the lowest level in nearly three years. The
The Chancellor, Rachel Reeves, has delivered the first Autumn Budget of this Parliament. She called it “a decade of national renewal.” This Budget brings real, immediate
The Bank of England (BoE) issued a sharp warning on 8 October 2025, cautioning that certain AI and technology stocks may be overvalued, particularly those
The Bank of England and HM Treasury began formally considering a national digital currency in 2021, launching a joint taskforce to explore what’s now called
Chancellor Rachel Reeves has confirmed the Autumn Budget will take place on 26 November 2025. As with the Spring Statement earlier this year, this annual
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The quickest way from A to B is usually a conversation. So, if you want to find out more about how Legend Financial can boost your business, get in touch. We’ll give straight answers so you can make a confident decision, fast.
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