Jermyn & Co News & Insights

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Furnished holiday lets face tax hike from April

October 9, 2024

National living wage likely to rise by 5.7%

September 5, 2024

Beware the tax on cash savings interest

August 30, 2024

Is tax deductible if company funds are lost through fraud?

August 1, 2024

2025-2026 Tax Card is Launched!

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

Are You Ready For Making Tax Digital?

Jermyn & Co. Becomes an ICAEW Approved Training Employer

Side Hustles Under Scrutiny: HMRC Targets Sellers as Income Reporting Tightens

The phrase “side-hustle” has entered everyday language of late. Individuals supplement their main income with an activity that brings in extra cash in their spare time, use an under-utilised asset or flex their creative muscles with a particular skill that they might have. Side hustles have always been around but as they have become more prevalent, […]

LITRG Warns of ‘Side-Hustle Time Bomb’: HMRC Must Improve Communication on New Tax Rules for Casual Sellers

The Low Income Tax Reform Group (LITRG) has urged HMRC to ramp up communications to ensure that side hustlers are aware of their obligation to file tax returns, with up to two million people potentially affected. LITRG highlighted new online platform reporting rules, effective from January, which will require platforms like eBay, Vinted, Deliveroo, and […]

HMRC To Launch MTD Pilot On 22 April

HMRC is inviting tax agents to participate in the beta testing for Making Tax Digital for Income Tax Self-Assessment (MTD for ITSA), starting from 22 April. This gives agents two years to test the digital filing system with live client data before mandatory quarterly reporting for landlords and self-employed individuals with income over £25,000 begins […]

Changes from the Companies House- How Will This Impact You?

Companies House has rolled out the first of many changes to UK company law, starting on 4th March 2024. These major reforms, introduced by the Economic Crime and Corporate Transparency Act 2023, will help to improve transparency, tackle economic crime, and support GDP growth. These recent changes may impact your business operations. Here’s what you […]

MTD for income tax will cost landlords £350 to implement

The introduction of Making Tax Digital (MTD) for income tax from 2026 will cost sole traders and landlords an average of £350 to set up, with ongoing costs of £110 to £115 annually, depending on income levels. Those earning over £50,000 will transition in April 2026, followed by those with income between £30,000 and £50,000 […]

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