Tax meets tech: how AI is reshaping the future of finance
Tax meets technology Artificial Intelligence (AI) is no longer something you hear about in tech news or science fiction. It’s becoming a central part of how public services, including tax, work in the UK. HMRC, the UK’s tax authority, has been quietly using AI for several years to spot fraud, improve accuracy, and increase efficiency. […]
Rental partnerships in the UK: what they are, the path to incorporation, and the taxes/costs to expect
Owning and letting property together does not automatically create a partnership. HMRC views most joint landlords as co-owners; you only have a partnership if there’s genuine business organisation akin to a trade (e.g., multiple properties, systems, records, active management, possibly additional services). A rental partnership should have: Written partnership agreement; partnership bank account; branding/website; employees/contractors; […]
Crypto assets – strict new reporting requirements from HMRC
Investors will have to provide their name, date of birth, home address, country of residence, and national insurance numbers (tax identification numbers if they are not residents of the UK). Service providers will then collect details of any transactions, including the type of crypto assets being exchanged and the number of units. Your crypto asset […]
Advisory fuel rates
What are Advisory Fuel Rates? The Advisory Fuel Rates (AFR) are set out by HMRC as guidance for the reimbursement of fuel on company cars, not employees’ own cars. The reimbursement rates are used where employees are to be reimbursed costs associated with business travel, or where an employee is required to reimburse the employer […]
Kilsby Williams celebrates exciting team promotions
Four professionals in the tax team have marked significant milestones in their careers with promotions reflecting their dedication and expertise. David Pescod and Lauren Pigeon have risen to become Senior Tax Managers, while Jamie Cannings and Jennifer James have been promoted within the department and taken on more responsibilities within their manager roles. Rob Meredith, […]
Firm puts heart into fundraising efforts
The charity’s mission includes teaching valuable CPR and first aid skills, and ensuring communities have access to defibrillators and are trained in how to use them. Calon Hearts also provides free heart screenings for people aged between 16 and 25 to detect life-threatening heart conditions that often go undetected. The firm’s dedication to the cause […]
Progression to senior tax manager: Ashley’s story
I began my role at Kilsby Williams in September 2023 as a Tax Manager. As the next step in my tax career, I was excited to work with such a knowledgeable team and apply my expertise of owner managed businesses to the firm’s extensive client base, while also embracing opportunities to further develop and learn. […]
P11D Season 2025
This annual requirement involves reporting certain benefits and expenses provided to employees that have not been subject to PAYE tax. Below is a guide to some of the most common and popular benefits that typically appear on a P11D. Company Cars and Fuel Company cars remain a staple benefit for employees, particularly for roles involving […]
Statutory Residence, considering your life
The changes are causing many people to question their UK tax residence and IHT planning provisions. The default basis of taxation for income tax and capital gains tax (CGT) for individuals is known as the ‘arising basis’. Where the arising basis of taxation applies for a tax year, individuals are taxed on their worldwide taxable income deemed to arise and […]
Making Tax Digital for Income Tax (MTD): the simple steps you need to take now!
MTD will require many landlords and self-employed individuals to keep digital records of income and expenditure relating to their businesses and rental properties. These records will form the basis of quarterly updates which will need to be submitted digitally to HMRC. The opportunity to get MTD ready is fast dwindling and here’s why it is […]