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Introduction As 2025 draws to a close, several important tax and financial updates have been introduced that may affect individuals, families, and business owners across the UK.From estate planning strategies and Companies House fee adjustments to free childcare funding and the latest crypto tax warnings, it’s essential to stay informed and compliant. At Adept Accountax,
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HMRC VAT Penalty Updates – April 2025 In April 2025, HMRC introduced key changes to VAT penalties and interest rates to ensure timely compliance and accurate reporting. These updates modify the VAT late submission and payment system that was first rolled out in January 2023. Businesses must stay aware of these changes to avoid unexpected
Learn MoreCapital Gains Tax and Divorce: What You Need to Know When couples separate or divorce, they often need to transfer assets — such as property, shares, or other valuables — between themselves. Normally, this can trigger Capital Gains Tax (CGT) if the asset has increased in value. However, UK tax rules provide a “no gain/no
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From April 2026, Making Tax Digital (MTD) will introduce a new requirement for quarterly reporting. This will apply to self‑employed individuals and landlords whose annual income exceeds £50,000. Under MTD, instead of submitting a single annual tax return, you will need to keep digital records and send quarterly updates of your income and expenses to
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Capital Gains Tax (CGT) is imposed on the profit made from the sale of assets, such as property, shares, and collectibles. Usually, the kind of asset and individual’s total income determine the tax rate. Types of Assets Subject to CGT Tax Rates The CGT rates for individuals and trustees in the UK are as follows
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