Blogs from Larking Gowen

Chancellor announced reduction in the higher rate of Capital Gains Tax for residential properties from 6 April 2024.

As we approach a new tax year and the introduction of some updated allowances, we highlight various tax planning opportunities to consider before 5 April 2024.

Gift Aid enables higher rate (40%) and additional rate (45%) taxpayers to claim back extra tax from HMRC. We discuss the impact of recent changes to Gift Aid to individuals making charitable donations or leaving a donation to charity in their will.

Our Not for Profit team highlights several measures announced in the Spring Budget 2024 that will affect charities.

Chris Scargill and Melanie Howard look at the changes to the Furnished Holiday Let regime, as set out in this week’s Budget statement, and discuss the question of who‘ll benefit and who won’t.

Bruce Masson discusses the Government’s response on the consultation and its call for evidence taxation.

Dannielle Chapman highlights some key points from the Budget that affect employers.

NHS England wrote to all GP practices in England on 28 February, setting out the “final arrangements” for the upcoming financial year. Andrew Burwood, specialist medical partner at Larking Gowen, reviews the proposals and gives his thoughts on the offer.

Our Medical accounting team explains which types of expenses qualify for tax relief and how to claim a deduction against your employment income.

HMRC reverses course on classifying double cab pickups, keeping them as vans for tax purposes following industry feedback. This decision relieves employers and industries dependent on these vehicles from potential tax burdens.

Our Medical accounting team reminds GP practices of what they need to do to complete their annual Estimate of NHS Pensionable Profits form and how to make sure the information submitted is accurate.

The risks arising from an HMRC investigation have substantially increased, making a tax investigation all the more painful for those who make errors in their self-assessment tax returns and payments.