The penalties will double for companies submitting a Corporation Tax return late from 1st April 2026. This will be legislated for in Finance Bill 2025-26. Late filing penalties were first implemented in 1998 to promote timely submission of corporation tax returns. However, inflation has reduced their real value over time, weakening their original deterrent effect. […]
An ISA is a tax-efficient savings account that allows you to earn interest without paying tax on it. Currently, individuals can contribute up to £20,000 per tax year into a Cash ISA. However, The Chancellor has confirmed in the Autom Budget that the cash ISA limit will be reduced to £12,000 a year from April […]