Navigating the New Tax Year Changes
Spring is a time of fresh starts, but it comes with a new tax year and new rules.
Millions of people and businesses are now affected by a ranch of important tax changes, from making tax digital, bringing more business and agricultural assets into the grasp of inheritance tax, increasing the tax take on selling businesses, increasing tax on dividends and rental income, increasing the tax on company electric cars, increases in council tax, air travel duty, road fund licences etc , the list goes on.
It may sound all doom and gloom, but it’s also a chance to have a spring clean and become leaner and more efficient. A simple task, such as reviewing your direct debits for superfluous subscriptions, could just be the start on the road to better finances.