Jermyn & Co News & Insights

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New UK Crypto Tax Rules: What You Need to Know

July 15, 2025

Is Britain Still Open for Business? The Truth About Starting Up in Today’s Tax Climate

June 23, 2025

UK Tax Obligations When Working Abroad During Holidays: What You Need to Know

June 13, 2025

Inheritance Tax & Lifetime Gifting Guide

June 5, 2025

What Would You Do If HMRC Starts a Tax Investigation Tomorrow?

Will Your Accountant Be Legally Allowed to Help You After April 2026? Here’s What HMRC’s New Rules Mean for You

Will AI Replace Your Accountant? The Future of Accounting in the UK

How to Save Tax in the UK: 10 Proven Strategies for 2025

Gifts Out of Income – What You Need to Know

The “Normal Expenditure Out of Income” exemption is a valuable yet often underutilised provision in UK inheritance tax (IHT) law. Outlined in Section 21 of the Inheritance Tax Act 1984, this exemption allows individuals to make regular gifts from their surplus income without incurring IHT, provided specific conditions are met. Understanding the Exemption Unlike other […]

Top 10 VAT Return Mistakes Small Businesses Must Avoid

Managing Value Added Tax (VAT) is a critical aspect of running a small business in the UK. Errors in VAT returns can lead to penalties from HMRC and disrupt cash flow. This article outlines ten common VAT return mistakes and provides guidance on how to avoid them. 1. Delayed VAT Registration Businesses must register for […]

2025-2026 Tax Card is Launched!

At the beginning of the new financial year, Jermyn & Co. ‘s 2025-2026 Tax Card is now available! Packed with key tax rates and allowances, it helps you stay informed and prepared for the year ahead. Download your free copy here!

End of Free HMRC Tax Filing: What It Means for You

The government’s Making Tax Digital (MTD) programme is set to transform how millions of self-employed individuals and landlords report their income—starting from April 2026. One of the biggest changes is the withdrawal of HMRC’s free tax filing software, which was used by 4.5 million taxpayers in the 2023–24 tax year. From now on, anyone within […]

Are You Ready For Making Tax Digital?

Making Tax Digital for Income Tax – 6 April 2026 (2026/27) We’d like to make you aware of an important change coming from HMRC: Making Tax Digital for Income Tax, also known as MTD for IT. This new system will change the way certain individuals report income to HMRC. It becomes mandatory from 6 April […]

Jermyn & Co. Becomes an ICAEW Approved Training Employer

We’re excited to share some great news—Jermyn & Co is now officially recognised as an ICAEW Approved Training Employer! This accreditation means we meet the high standards set by the Institute of Chartered Accountants in England and Wales (ICAEW) to train and support future chartered accountants. It’s a proud milestone for our firm and a […]

Furnished holiday lets face tax hike from April

The Chancellor has confirmed plans to abolish the furnished holiday lettings (FHL) tax regime starting in April 2025, with draft legislation now published. This change will remove the tax benefits currently enjoyed by short-term holiday let landlords, bringing their tax treatment in line with those of standard residential landlords, such as buy-to-let properties. The government […]

National living wage likely to rise by 5.7%

The move to increase 18-20-year-old rate of national minimum wage will begin from 2025 but will not be instant. The Low Pay Commission has outlined a provisional plan for 2025 to begin raising the young persons’ rate of £8.60, in line with the government’s goal to eliminate age-based wage differences. This aligns with the government’s […]

Beware the tax on cash savings interest

A record 2.1 million people are expected to pay tax on their savings interest this year due to rising interest rates and a stagnant personal savings allowance. With average savings account rates reaching 5%, more savers are hitting their tax-free limit. This marks a significant increase from previous years, with 945,000 basic rate taxpayers now […]

Is tax deductible if company funds are lost through fraud?

One of our clients has been the victim of a scam that resulted in the director making a significant transfer from the company’s business bank account to a fraudster impersonating a trade supplier. Can we claim a tax deduction? In summary, the deduction’s eligibility hinges on whether the loss is considered a theft of cash […]