Welcome to the “Latest News” section of Thorne Widgery.
Explore the latest news, all the developments, industry insights and essential updates in the world of finance and accounting.
An Altruistic Approach to Inheritance Tax: How Charitable Giving Could Reduce Your IHT Bill
With more estates becoming liable for Inheritance Tax (IHT), effective estate planning is becoming increasingly important. However, one often-overlooked option could help reduce your IHT liability while supporting a charitable…
Vulnerable Person’s Trusts: What Are the Tax Benefits?
A Vulnerable Person’s Trust (VPT) is usually set up by a settlor to provide for the future financial security of a vulnerable person. If the trust is correctly established for…
National Insurance Replacement Credits Delayed Until April 2027
The National Insurance Replacement Credits Service (NIRCS) is finally on its way, although the launch date has now been pushed back from April 2026 to April 2027. NIRCS is intended…
Land Remediation Relief: What Property Developers Need to Know
With the Government striving to meet its pledge to build 1.5 million new homes during the course of this Parliament, the use of brownfield sites is coming into sharper focus.…
Could your building work qualify for the 5% VAT rate?
The reduced 5% VAT rate for certain residential conversions and renovations has been available for more than 25 years. However, builders, developers and property owners can still miss out on…
Key person insurance: what businesses need to know about tax
Many businesses rely heavily on the knowledge, experience and relationships of a small number of key people. These could be directors, senior employees or other individuals whose contribution is central…
HMRC is preparing to sign up MTD no-shows automatically
The first Making Tax Digital (MTD) for Income Tax quarterly update deadline has now passed, but HMRC is already turning its attention to those who have not yet joined the…
Tips, Service Charges and Troncs: What Hospitality Businesses Need to Know
Tips and service charges are a normal part of the hospitality industry, but the tax treatment behind them is not always straightforward. Whether a payment is made in cash, by…
Using Your Own Vehicle for Work: HMRC Mileage Rates Explained
Employees who use their own vehicle for business journeys may be entitled to receive mileage payments from their employer. Provided these payments remain within HMRC’s approved limits, they can normally…
Can You Trust Financial Advice from Social Media and AI?
Social media and artificial intelligence are changing how business owners find answers to accounting and tax questions. Instead of contacting an accountant, many people now turn to Google, an AI…