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IHT - Business Property Relief
BPR is a valuable relief for IHT purposes on both lifetime and death transfers. The relief is given automatically, before…
Defra unveils £10m funding for cattle shed upgrades
Defra has announced a £10m funding pot available to livestock farmers in England to be used to replace existing cattle…
IHT - Lifetime Transfers including Potentially Exempt Transfers
Some lifetime transfers are specifically classified as exempt according to legislation and include the following: Annual Exemption For any tax…
Introduction to Inheritance Tax
Inheritance Tax (IHT) is a tax on bequests, gifts, and other transfers of property by individuals, either during lifetime or…
Budget Key Points
Chancellor Jeremy Hunt has announced his first Budget. Read the key points from his announcement here; Taxation Abolition of the…
HMRC targets short-term landlords over unpaid tax
HMRC is reminding customers who own short-term letting properties to report and pay tax on their earnings in an effort…
Ask An Apprentice - Chloe Thompson
How long have you been at Lentells and what level are you working towards? I have been at Lentells for…
Ask An Apprentice - George Welch
How long have you been at Lentells and what level are you working towards? I have been working at Lentells…
Electric Car Fuel Allowances
If an employee is running a pure electric company car but paying for the re-charging themselves they can charge per…
HMRC starts sending texts to taxpayers
HMRC has started to send text messages to taxpayers who contact their helplines by mobile phone. The new service was…
HMRC Call Connection Services Scam
Taxpayers are being warned not to be caught out by expensive call connection services when trying to contact HMRC phone…
New Energy Bills Discount Scheme
The Government has published details of a new Energy Bills Discount Scheme which will replace the current Energy bills Relief…
Vehicle Benefit Charges from April 2023
The vehicle benefit charges for 2023/24 have been announced and will come into effect on and after 6 April 2023.…
Time is running short for outstanding tax returns
The 31 January deadline for submission of 2021-22 Self-Assessment tax returns, covering the year ended 5 April 2022, is fast…
MTD for ITSA Postponed
Making Tax Digital for Income Tax Self-Assessment (MTD for ITSA) has been postponed for 2 years until April 2026. From…
Interest rates raised to 3.5%
The Bank of England has raised UK interest rates to their highest level for 14 years today. It has increased…
HMRC to raise late payment interest from 22 November
HMRC will raise interest rates on tax debt from 22 November, following the Bank of England's 0.75% increase in the…
Interest rates hit 3%
The Bank of England's Monetary Policy Committee have increased interest rates to 3%. The rise of 0.75% is the biggest…
Autumn Statement date set for 17 November
Prime Minister Rishi Sunak and Chancellor Jeremy Hunt have agreed that the Mid Term Fiscal Statement will now take place…
Chancellor Statements Summary
The new Chancellor of the Exchequer, Jeremy Hunt, was appointed on Friday 14 October and on Monday 17 October he…
PM u-turns on corporation tax hike
Prime Minister Liz Truss has u-turned on the plans to cancel the increase the rate of corporation tax from 25%…
Less than 1 month for VAT registered businesses to be ready for MTD
HMRC is reminding businesses that from Tuesday 1 November 2022 they will no longer be able to use their existing…
U-turn on plans to scrap 45p rate of income tax
Chancellor Kwasi Kwarteng has confirmed the Government has u-turned on the plans to scrap the 45p rate of income tax. …
Growth Plan 2022
Chancellor Kwasi Kwarteng has announced his mini-budget today. Read our key point’s summary here. Taxation Cut in basic rate of…
Interest rates rise to 2.25%
The Bank of England's Monetary Policy Committee voted by five to four to increase interest rates by 0.5% to 2.25%. …
Meet our Payroll Team
Meet our Payroll Team with over 50 years of experience between them. Our knowledgeable and friendly team provide a first…
Somerset Growth Accelerator Fund Grant Scheme
Somerset County Council are offering grants to Somerset SME businesses through the Somerset Growth Accelerator Fund Grant Scheme. These grants…
Making Tax Digital for VAT expansion from April
Businesses should take steps to prepare for Making Tax Digital for VAT before it becomes mandatory for all VAT-registered businesses…
HMRC advisory fuel rates for company car users from 1 March 2022
HMRC has published the latest advisory fuel rates for company car users, effective from 1 March 2022. The advisory fuel…
Change to flat rate scheme VAT reporting
HMRC has confirmed that reporting requirements under the VAT flat rate scheme are due to change in June 2022. From…
Grant deadline looms for hospitality firms
Eligible businesses in England have until the end of this month to apply for the new Omicron hospitality and leisure…
MTD for income tax exemptions
Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) will come into force for landlords and sole traders…
HMRC raises late payment interest rate to 3%
Following the increase in the base rate, HMRC has confirmed that the late payment interest rate will rise a quarter…
Dealing with late payments
Late payments are a perennial problem for small business owners, but pressures have increased in recent months, according to a…
What’s next for Auto-enrolment?
Almost a decade on from the introduction of auto-enrolment workplace pensions, new changes could be on the horizon to bring…
Is 2022 the year for an electric company car?
According to the Government’s ‘Ten Point Plan for a Green Industrial Revolution’ the sale of fully petrol or diesel cars…
Reviewing Payroll before the new tax year
As a new tax year approaches, employers will be taking this opportunity to review their workers' pay. Unfortunately, COVID-19 continues…
Personal tax planning tips for year end
There is now less than a month until the end of the tax year. Read our guide on what to…
Tax Year End Checklist
If your New Year resolution is to get to grips with your finances, now is a great time to review…
Barn Conversions and New Builds
Converting agricultural buildings for residential use or constructing new dwellings to rent out on assured short hold tenancies (AST) or…
