Consider the tax implications if you hold or use cryptoassets
Selling, exchanging, gifting or shopping with cryptoassets will result in a capital gain or loss on each transaction. If your total capital gains, including from cryptoassets, exceed £3,000 pa or total sales/exchanges/shopping etc exceeds £50,000 pa then you have to report cryptoasset gains and losses on your Tax Return. From 1 January 2026, individuals buying cryptoassets must share their cryptoasset account details with HMRC or face penalties. HMRC has concern about the
Mr Paul Clifton
Jan 22 min read
Employee income tax relief for working from home expenses to be scrapped
From 6 April 2026, employees will no longer be able to claim tax relief for their additional household costs incurred while they are working from home. Background to employees claiming tax relief for working from home Employees who are required , under their contract of employment, to work from home are currently able to claim income tax relief for the extra costs they incur by working from home. This has been the position for many years under current tax law. The costs
Mr Paul Clifton
Dec 5, 20253 min read
Budget 2025: Dividend tax increase
It was not too many years ago that dividend tax did not exist. Extra tax on dividends was introduced on 6 April 2026, at a rate of 7.5% for basic rate taxpayers, although the first £5,000 of annual dividend income was tax free. Very shortly, we will have 10.75% dividend tax on dividend income over £500 pa. In her Budget speech on 26 November 2025, the Chancellor announced a 2% increase in the rates of dividend tax for basic and higher rate taxpayers. From 6 April 2026,
Mr Paul Clifton
Nov 28, 20253 min read