The run up to the end of the tax year on 5 April 2025 is a good time to check that your family and business finances are arranged in the best way possible. In this Year End Tax Planning Guide, we look at useful ways to take advantage of available tax reliefs and planning opportunities.
The Guide is divided into sections: planning points for companies and business owners; then points for families, couples and individuals. This is for ease of use, and there is inevitably some overlap.
Death of the P11D form! From April 2027, ‘Benefits in Kind’ provided to employees/directors will, with only a couple of exceptions which are not common, have to be ‘payrolled’ rather than declared to HMRC on forms P11D at the end of the tax year. This can currently be done on a voluntary basis but it […]
From April 2028, drivers of electric and plug-in hybrid cars will pay a new levy (tax). At the Autumn Budget 2025, the government announced that Electric Vehicle Excise Duty (eVED) will be introduced from April 2028. Although yet to be confirmed the scheme is expected to work as follows. Background The two primary motoring taxes in […]
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