February 2025 - Page 3 of 4

13 Feb 25

Tax when transferring assets during divorce proceedings

Separation and divorce can create tax implications, particularly Capital Gains Tax (CGT) on asset transfers. New rules from April 2023 extend the ‘no gain/no loss’ period, helping

13 Feb 25

Cut in interest rates

The Bank of England’s Monetary Policy Committee (MPC) met on 5 February and in a 7-2 vote decided to reduce interest rates by 25 basis points to 4.5%. The two remaining members

13 Feb 25

Health services exempt from VAT

Health professionals providing medical services may be exempt from VAT if their work falls within their registered profession and primarily protects, maintains, or restores health.

11 Feb 25

How to Check the Creditworthiness of New Customers

Before extending credit to new customers, it’s essential to assess their financial reliability. Checking their creditworthiness helps protect your business from potential losses

11 Feb 25

How to Stop Future Payments on Your Debit or Credit Card

Stopping future payments from being made on your debit or credit card is crucial for avoiding unwanted charges and managing your finances effectively. Here’s how you can do

11 Feb 25

Not all hurt feelings are uncapped & costly

The Employment Appeal Tribunal slashed a £10,000 award for injury to feeling by 80% after an original tribunal ruling was deemed not to be Meek compliant as it failed to provide

06 Feb 25

When is a hobby a business

Not sure if your hobby is actually a taxable trade? HMRC uses ‘badges of trade’ to assess whether an activity is a business. Factors like profit motive, transaction frequency, and

06 Feb 25

Small duty cuts on draught products from 1 February 2025

From 1 February 2025, alcohol duty on draught pints has been cut for the first time in a decade, saving drinkers 1p per pint. Small breweries also benefit from tax relief. However,

06 Feb 25

Tax on inherited private pension pots

Private pensions can be a great way to pass on wealth, but tax implications depend on the age of the deceased and the type of pension. Some beneficiaries may receive funds

06 Feb 25

How umbrella companies work

Umbrella companies offer an easy way for freelancers and contractors to get paid without running a limited company. They handle payroll and tax via PAYE, ensuring compliance and

Month: February 2025

Tax when transferring assets during divorce proceedings

Cut in interest rates

Health services exempt from VAT

How to Check the Creditworthiness of New Customers

How to Stop Future Payments on Your Debit or Credit Card

Not all hurt feelings are uncapped & costly

When is a hobby a business

Small duty cuts on draught products from 1 February 2025

Tax on inherited private pension pots

How umbrella companies work

Statutory Redundancy rights

Tax relief for landlords replacing domestic items

Tax and employee suggestion schemes

SJPR