SKM Tax Specialists

11/05/2026

Reminder!

Making Tax Digital for Income Tax is now here.
Self-employed individuals and Landlords with property income of £50,000+ are now required to electronically submit quarterly summaries of their income and expenditure to HM Revenue & Customs with the first quarterly submission deadline being 7th August 2026.

Does this change affect you? Are you all ready and prepared for Making Tax Digital for Income Tax?

If not already, now is the time to do so for a smooth transition.

Need help? Get in touch with us today!

22/03/2026

EXCITING NEWS!

SKM Tax Specialists, nominated by Acquisition International in November 2025, are proud winners of Best Tax & Accountancy Service 2026 – West Yorkshire 🏆

Thank you to our clients and supporters...this achievement is yours too, and for the unseen hands and guiding minds, we appreciate you!

Ever so grateful...ALWAYS.. 🫶

23/10/2025

We’re excited to share that SKM Tax Specialists has been recognised by "Three Best Rated" as one of the Top 3 Tax Service Firms in Halifax! 🎉

This recognition means so much to us — it reflects our dedication to providing reliable, personalised, and high-quality tax services to our amazing clients and community.

A heartfelt thank-you to our incredible team for their hard work, and to our clients for your continued trust and support. You’re the reason we love what we do every day. 💙

Here’s to another year of helping our clients and businesses achieve financial peace of mind!

07/03/2025

Fantastic outcome for our client

09/01/2025

REMINDER: The self-assessment tax return deadline of 31 January 2025 is fast approaching

HM Revenue and Customs will charge penalties for late submissions

Should you require any assistance in preparing and submitting your tax return please do not hesitate to contact us on 01422 399412.

14/05/2024

08/03/2024

*** Following on from the , here is an overview of some of the key tax updates which may affect you:***

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From 6 April 2024 national insurance contributions for employees (Class 1) and self- employed (Class 4) individuals to decrease by 2%.

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From 1 April 2024 the VAT registration threshold is set to rise from £85,000 to £90,000.

The level at which a business can deregister for VAT will also increase from £83,000 to £88,000.

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From 6 April 2024 the higher rate of capital gains tax on the disposal of residential properties to reduce from 28% to 24%.

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From 6 April 2024 the threshold for the high-income child benefit charge is to increase from £50,000 to £60,000.

The taper range being £60,000 to £80,000.

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Multiple dwelling relief is to be abolished from 1 June 2024.

First time buyers relief is to be extended to those individuals using a nominee and bare trust arrangement to buy a new lease over a dwelling which is intended to be used as their main or only residence.

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From 6 April 2025 the tax treatment of non-domiciled individuals is to change replacing it with a new residence based system.

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From 6 April 2025-Furnished holiday let regime to be abolished.

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New tax reliefs available for businesses within the creative industry such as theatre, orchestra, museums and galleries.

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New UK ISA to be introduced by the government with a £5,000 allowance- this shall be in addition to the existing ISA allowance.

For further information and clarity on how these changes may affect you, please do not hesitate to give us a call on 01422 399412 or 07877 296 276.

05/03/2024

***TIP OF THE DAY***

As we are exactly 1 month away from the end of the current tax year, it is still not too late to consider some tax planning…

If your personal income will go beyond the basic rate tax bracket during the current tax year (tax year ended 5 April 2024), then there is still time to consider ways to mitigate your tax for the year by doing either of/ or a combination of the following by the 5 April 2024:

1- Consider making gift aid charitable donations to a UK/EEA registered charity

2- Consider making personal pension contributions to a personal pension scheme (warning…this can come with other tax implications, so please seek professional tax advice and financial advice before proceeding)

Require a review of your tax affairs??

Please do not hesitate to get in touch on 01422 399412 or 07877 296 276 👍

04/03/2024

😊

A fantastic result for our client this morning....

£1300 worth of penalties cancelled for the late submission of his 2022 self assessment tax return.

Are you in a similar situation and would like to get your tax affairs up to date with HMRC?

If the answer is yes, then please do not hesitate to get in touch with our dedicated team who are more than happy to help 👍