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Scottish Budget hikes income tax for higher earners
Personal TaxThe Scottish government presented its 2024/25 Budget to Holyrood yesterday. The headline changes are a move to a six-tier income tax system, and a hike for those the government deems “higher earners”. Who will these changes affect?
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Changes to VAT zero rating imminent
VATHMRC has announced an extension to the materials qualifying for the VAT zero rate from 1 February 2024. What’s the full story?
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Taxpayer uses AI to argue against penalty
Personal TaxOne taxpayer recently decided to use AI to generate a defence against an HMRC penalty. How did things turn out for her?
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Are camping pods “buildings” for capital allowances purposes?
Business TaxThe First-tier Tribunal (FTT) recently considered whether a number of camping pods could qualify for the annual investment allowance. As with many similar cases, the answer was “it depends”. What can you learn from it?
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Criteria for self-assessment are changing
Personal TaxHistorically, you may have had to file a tax return if your income exceeded the point where the personal allowance starts to be tapered away. This has changed for 2023/24. However, the Autumn Statement also made a further change that will apply from 2024/25. What’s the full story?
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Latest advisory fuel rates published
Business TaxThe HMRC-approved amount that employers can reimburse staff for business travel in company cars changes from 1 December 2023. What are the new rates?