October 2024 Newsletter

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foxwise.co.uk

06/10/2024
Mounting speculation of Inheritance Tax changes to come
As speculation mounts that the new Government will soon make changes to raise more money for the Treasury via Inheritance Tax (IHT), it seems we're already set for the highest receipts on record this year. Read More...
 
A new flat rate for pension tax relief? Budget changes expected
Amid the frequently repeated references to the £22bn 'blackhole' in the public finances and warnings from the Prime Minister of a 'painful' Autumn Budget, it would appear that tax relief on pensions may be another area the Government seeks out to raise mo Read More...
 
Loophole for fund managers that chancellor called 'absurd' set to be closed
One area of potential tax reform that we know we should expect to hear more about on Budget day surrounds the tax treatment of 'carried interest'. Read More...
 
Seasonal staff warning from HMRC
Many businesses across the UK have peaks and troughs in their trade, depending on the season. And some, as a result, have to take on more helping hands to cover the workload just during that particular spell. Read More...
 
October Questions and Answers
I earn £62,000 and have been offered a bonus that would increase my total income to £95,000. How will this affect my tax, and are there any higher tax bands I should be aware of? Am I right that bonuses are taxed more than normal income Read More...
 
October Key Dates
5th - Self-Assessment Registration Deadline: if you've become self-employed or earned other untaxed income during the 2023-24 tax year, you must register for self-assessment by this date to avoid penalties. Read More...
 

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