Freeman Baker
@FreemanBakerLtd
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If you are ever looking for an Accountant drop us a line! We've been based in Somerset now for over 30 years. We specialise in the Licensed Trade.
Crewkerne, Somerset, England
Joined February 2012
Company benefits, what is taxable As an employee, you pay tax on certain company benefits, such as cars, accommodation, and loans. Your employer calculates the tax you owe and deducts it through Pay As You Earn (PAYE)... #EmployeeBenefits #PAYE #UKTax
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Selling a UK home while living overseas If you live abroad and sell your UK home, you may have to pay Capital Gains Tax (CGT) on any gain made since 5 April 2015. Only the portion of the gain made after 5 Apri... #CapitalGainsTax #UKProperty #ExpatTax
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Working students are you overpaying tax? Students that work may need to pay Income Tax and National Insurance. Employers are required to calculate the amount of tax they need to pay on the basis that the students woul... #StudentJobs #IncomeTax #UKTax
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Zero-emission cars, 100% tax relief extended for another year An extension of First-Year Allowances (FYA) for zero-emission cars and charge points was announced as part of the recent Budget measures. #ElectricVehicles #CapitalAllowances #UKBusiness
https://t.co/Q6Cbji4NKZ
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Could you claim the Small Pool Allowance? Writing-down allowances (WDAs) are a type of capital allowance that let you deduct a percentage of an asset’s value from your taxable profits each year. In some ca... #CapitalAllowances #UKTax #BusinessFinance
https://t.co/uaj5qunR6q
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Construction Industry Scheme changes As part of the Budget measures, the government confirmed plans to make some changes to the Construction Industry Scheme (CIS). #ConstructionIndustry #CIS #UKTax
https://t.co/U1hS17v7oK
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Big shift ahead for pension IHT from 2027 The 2027 reforms will shift more responsibility to personal representatives, who may need to manage withholding arrangements and settle any IHT before pension be... #IHTChanges #PensionPlanning #EstatePlanning
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Major reforms to BPR and APR from April 2026 Agricultural and business property relief changes that were first announced at Autumn Budget 2024 will come into effect from 6 April 2026. These measures will in... #IHTChanges #RuralEconomy #EstatePlanning
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How the £35k limit will reshape Winter Fuel Payments The June 2025 reforms introduce a £35,000 income limit for keeping the Winter Fuel Payment, with HMRC recovering the payment from those above the threshold. #UKPensions #HMRC #SupportPayments
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Higher limits, lower relief: key changes to EIS and VCT The new rules will allow companies to raise more capital under the following schemes although investors will need to factor in reduced VCT Inc... #TaxEfficientInvesting #Budget2025 #GrowthFunding
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Workplace benefits get a 2026 upgrade From 6 April 2026, new tax rules will expand workplace benefits relief. The changes will simplify the treatment of certain low-value workplace benefits-in-kind (BIKs),... #UKTax #WorkplaceBenefits #PayrollUpdates
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New tax rates on investment and rental income The government announced at Budget 2025 that dividend income, property and savings income, will be subject to new tax rates. These changes will be legislated for th... #TaxUpdate #RentalIncome #DividendTax
https://t.co/g2CSlkeeHm
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National Insurance deferral for multiple jobs Employees with a second job, third job or more may be able to defer or delay paying Class 1 National Insurance on their additional employment. This deferment can be... #NIDeferral #MultipleJobs #TaxUpdate
https://t.co/D4d3yxjQbE
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VAT fuel scale charges made simple VAT road fuel scale charges are fixed, standardised amounts that businesses must use to account for output VAT when they provide fuel for private use in a vehicle that is a... #VATUpdate #FuelScaleCharges #UKBusiness
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Self-Assessment deadline is getting close There are now less than 2 months to the self-assessment filing deadline for submissions of the 2024-25 tax returns. We urge our readers who have not yet completed and filed... #SelfAssessment #TaxReturn #UKTax
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MTD for IT testing gathers pace ahead of 2026 HMRC has published a new Making Tax Digital newsletter. This newsletter is mainly intended for taxpayers and agents who are currently testing the Making Tax Digita... #MakingTaxDigital #MTDforIT #TaxUpdate
https://t.co/sQm5789WxJ
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Scottish Income Tax status explained The rules that govern who pays Income Tax in Scotland is determined by whether an individual is considered a Scottish taxpayer. For most people, determining Scottish taxpayer... #ScottishTax #IncomeTaxUK #TaxUpdate
https://t.co/jIeiUCXG4l
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FSCS savings protection limit now £120,000 The Financial Services Compensation Scheme (FSCS) has raised its savings guarantee for bank deposits, increasing the deposit protection limit from £85,000 to £120,000 pe... #FSCS #SavingsProtection #UKFinance
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Tobacco, vaping, and alcohol duties set for major rises in 2026 The Chancellor has confirmed a series of duty increases on tobacco, vaping liquid, and alcohol that will take effect over the next ye... #DutyRatesUpdate #UKBudget2025 #PublicHealthPolicy
https://t.co/VWn98pA7LL
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Pension rules unchanged but new limits on salary sacrifice The Chancellor has kept the main pension allowances unchanged but has confirmed a new cap on salary sacrifice arrangements that will apply f... #PensionUpdate #UKBudget2025 #RetirementPlanning
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