HMRC has recently tightened its requirements for employees seeking to claim tax relief on work-related expenses through PAYE, emphasising the need for robust evidence to support claims. This change stems from a rise in inaccurate or fraudulent claims, leading HMRC to...
The Chancellor Rachael Reeves announced the following draft legislation measures in relation to the abolition of the furnished holiday lettings relief in her statement to the House of Commons yesterday. Current Rules Under the existing regulations, FHL properties...
In a decision that has caught the attention of many, the UK’s HM Revenue and Customs (HMRC) has announced that it will maintain the Official Rate of Interest (ORI) for director’s loans at 2.25% for the upcoming 2024/25 tax year. This decision marks the second...
