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Sara White , Editor, Business & Accountancy Daily. Croner-i Above inflation rises to national living wage to £12.71 per hour and a significant 8.5% hike in national minimum wage. The government has confirmed above inflation rises in the national living wage with a 4.1% rise, while national minimum wage up 8.5% from 1 April 2026. This year’s hike to national living wage is down on last year’s 6.7% which caught employers off guard. This time the hike is closer to the current 3.

Jacob Grattage , Reporter, Business & Accountancy Daily. Croner-i Anyone with a property over £2m will face annual £2,500 charge chancellor confirms. The new mansion tax means properties worth over £2m face £2,500 annual charge and £7,500 for £5m plus properties owners from April 2028. As part of a crackdown on wealth, Rachel Reeves will introduce a high value council tax surcharge in England for residential properties. According to Treasury documents, the mansion tax is esti

Jacob Grattage , Reporter, Business & Accountancy Daily. Croner-i EV drivers face a pay-per-mile tax on their annual mileage, due to be added to road tax and monitored at MOTs. The chancellor plans to tax EV drivers from April 2028 with a special electric vehicle mileage rate set at 3p per mile. But this will not affect petrol and diesel drivers. The government said this will cost the average EV drive £240 per year on top of existing road tax. But experts warn this will have

Sara White , Editor, Business & Accountancy Daily. Croner-i As trailed in the most leaked Budget ever, chancellor confirmed cash ISA limit will be cut to £12,000. However, savers over 65 will be able to continue to have the full £20,000 limit, at least initially. There will be a split ISA allowance going forward for adults, with £12,000 allocated to cash and £8,000 to stocks and shares for each person. The new limits will come into effect in three years’ time. From 6 April 20

Sara White , Editor, Business & Accountancy Daily. Croner-i Savers will be hit by a further tax blow with a 2% increase in the tax on savings interest. As part of the chancellor’s Budget pick n mix, Rachel Reeves announced a hike in the tax rate on savings income by 2% across all bands from April 2027. This means savers will pay tax at 22% if they are basic rate taxpayers, and 42% for higher rate payers, rising to 47% for additional rate payers. The current tax-free savings i

Jacob Grattage , Reporter, Business & Accountancy Daily. Croner-i Writing down allowance cut will hit businesses looking to invest. Main rate of writing down allowance cut to 14% from April 2026, and 40% first-year allowance introduced from January 2026. From April 2026 the main rate writing-down allowances for corporation tax and income tax will be reduced from 18% to 14%. Rachel Reeves has confirmed the government will decrease the main rate of writing down allowances due t

Sara White , Editor, Business & Accountancy Daily. Croner-i Chancellor plans to raise rates of income tax on property rental earnings from 2027. For the first time, there will be separate tax rates for property income affecting earnings from renting lands and building. From April 2027, income tax on property rental and income will fall under a new property tax. The property basic rate will be 22%, the property higher rate will be 42%, and the property additional rate will be

Sara White , Editor, Business & Accountancy Daily. Croner-i In a blow for earners, chancellor extends income tax threshold freeze for another three years. Rather than raise income tax rates which would have broken Labour’s manifesto pledge of not increasing the big three taxes on working people, the chancellor Rachel Reeves took the worst possible route freezing income tax thresholds endlessly into the future until April 2031, long after the next election will be over. This m

Sara White , Editor, Business & Accountancy Daily. Croner-i A £4.7bn tax swoop on pension savers is due to come into force when tough new rules on the use of salary sacrifice for pension contributions start. But the chancellor will not introduce the measure immediately, leaving pension savers and employers to contemplate possible alternative approaches for a few years. The plan will see the capping of national insurance contribution (NICs) relief on salary sacrifice into pens

Sara White , Editor, Business & Accountancy Daily. Croner-i In a Budget speech full of minor tax changes, chancellor confirmed increase in dividend tax rates. From the new tax year in April 2026, the base and higher rates of tax on dividend income will increase by 2% to 10.75% for basic-rate taxpayers and 35.75% for higher and additional rate taxpayers. The current £500 of exempted tax free dividend income will not change, although this has been reduced by successive chancell

Sara White , Editor, Business & Accountancy Daily. Croner-i Chancellor confirms state pension to rise by 4.8% in line with earnings and well above inflation, putting pensioners within £23 of tax threshold. This means the full state pension, which it should be noted is not paid to all pensioners due to various changes over the years, will amount to £12,547 a year from April 2026 due to triple lock, up from the current £11,973 a year. This brings it dangerously close to the bas

Sara White , Editor, Business & Accountancy Daily. Croner-i In a major push to drive awareness about Making Tax Digital for Income Tax, HMRC is writing to hundreds of thousands of taxpayers with income over £50,000 falling under reporting net. From April 2026, landlords and self employed and sole traders with income in excess of £50,000 from earnings, rental income and so forth, will have to report quarterly under MTD for Income Tax. Now HMRC is starting to send letters out t

Neil Warren , CTA VAT consultant and tax writer. Croner-i Neil Warren CTA (Fellow) ATT considers the pros and cons of splitting businesses to reduce VAT liability, with a warning about HMRC’s powers to treat separate entities as a single registration for VAT purposes if they are closely connected.   I’ve just had a new carpet fitted in my house, which has produced two major benefits: firstly, it has made the bedroom look much more stylish, a royal suite rather than the forgot

Jacob Grattage , Reporter, Business & Accountancy Daily. Croner-i Latest inflation figure shows a slight drop to 3.6% after relatively low increases in the gas and electricity price cap, but cost of food continues to soar. As widely expected, inflation has dropped to 3.6% in October 2025, down from a stubborn rate of 3.8% where it was stuck for three months. Year on year the rate has got worse, with last October’s figure 3.2%. However, food inflation was still painfully high

Sara White , Editor, Business & Accountancy Daily. Croner-i Employees who use their own car to travel for work business ‘stranded on the roadside’ by absurdly low mileage rates, which have lost touch with inflation, warns Association of Taxation Technicians (ATT). Official HMRC approved mileage rates have been frozen at 45p per mile up to 10,000 miles annual mileage for 14 years since 2011, a figure which would be 67p per mile if it had tracked inflation. The freeze has happe

Jacob Grattage , Reporter, Business & Accountancy Daily. Croner-i As ID verification becomes law, so far one in four directors have verified their identity out of the more than six million on the register. There is a one year transition period for all directors to verify their identity on Companies House, but all new companies will have to go through the process as soon as they are incorporated. Companies House confirmed that 1.5m directors had cleared the ID process adding t

Jacob Grattage , Reporter, Business & Accountancy Daily. Croner-i Proof of ID verification for directors will be introduced on Companies House register with a green tick once the process is up and running. This will allow proper due diligence and evidence that directors and people with significant control ( PSCs) have complied with the new ID verification rules due to come into effect on 18 November, although there will be a one-year transition process. Company directors and

Sara White , Editor, Business & Accountancy Daily. Croner-i Not all the nine million pensions receiving a winter fuel payment into their bank accounts from this month will be able to keep the benefit as it will be taxable for several millions. Following the chancellor’s decision to u-turn on the government’s original decision to abolish winter fuel payments in July 2024, a new £35,000 income threshold now defines who is eligible for the tax free payment. But there is a big ca

Sara White , Editor, Business & Accountancy Daily. Croner-i Accountancy firms will have to pay significantly higher fees to HMRC for anti-money laundering (AML) supervision from this December. This is the first change in fees for six years and will see substantial increases for firms, including accountants and law firms, with the premises fee shooting up. But there is not much notice as the new fees come into effect from 1 December, just a few weeks away. AML supervision fees

Sara White , Editor, Business & Accountancy Daily. Croner-i Croner-i tax experts Glyn Fullelove, Sarah Kay and Martin Jackson talk to Sara White about what they expect in the Budget on 26 November from why the chancellor needs to make radical reform to the tax system, may have to break the pledge and must avoid salami slicing approach which will only wind up businesses and taxpayers. From business taxes to income tax and national insurance, tricky election pledges, VAT thresh