Blog
Expert analysis, tax updates, and strategic advice to help you manage your business, protect your wealth, and plan your future.
What would a 10 percent sales fall do to your business?
Most business plans assume that things will broadly go according to plan. What would happen if sales unexpectedly fell by 10%?
Is your business relying on the wrong numbers?
Modern accounting software gives instant financial data, but dashboards showing turnover and bank balance may disguise underlying margin and cash pressures.
Tax diary October/November 2026
Essential key filing deadlines and tax payment dates for UK businesses and individuals across October and November 2026.
HMRC sending 1.8m Simple Assessment letters
HMRC is issuing around 1.8 million PA302 Simple Assessment letters for the 2025-26 tax year covering untaxed income, pensions, and savings interest.
UK employers with overseas employees
Important PAYE and National Insurance considerations for UK host employers receiving short-term business visitors and overseas staff.
When can a trading loss generate a tax refund
How sole traders and partnership members can set trading losses against other income or earlier profits to claim a tax refund.
New self-assessment registration service launched
HMRC launches an online Self Assessment registration portal giving faster UTR generation within 72 hours via Personal Tax Accounts.
Are customers borrowing from you?
How late invoice payments impact SME cash flow and why measuring debtor days is a critical management metric.
Could better broadband change your business?
With Project Gigabit reaching 88% UK coverage, evaluating your business connectivity needs can unlock productivity and cloud integration.
Is it time to review your staffing costs?
Recent employment figures suggest that the number of people on UK payrolls is continuing to fall.
Could your business manage without you?
Many successful small businesses have one person at their centre. If too much depends on one person...
Could company reporting become simpler?
Running a limited company brings with it a considerable amount of administration...
Landlords – Right to Rent checks change from October
Landlords in England need to be aware of updated Right to Rent guidance taking effect from 1 October 2026.
HMRC may be signing you up for Making Tax Digital
Making Tax Digital for Income Tax became compulsory for the first group of sole traders and landlords from 6 April 2026. HMRC is now taking the next step...
Recovering VAT on pre-registration costs
Businesses that register for VAT may be able to reclaim VAT paid on certain goods and services purchased before VAT registration...
Incorporation Relief may reduce your CGT bill
When a sole trader or the partners in a partnership transfer a business to a limited company, Capital Gains Tax (CGT) may arise. Incorporation Relief may help...
When do you pay Stamp Duty Land Tax?
Stamp Duty Land Tax (SDLT) is a tax that may apply when you buy land or property in England or Northern Ireland. Here is what you need to know...
Tax Diary September/October 2026
Key tax deadlines and dates for September and October 2026 including Corporation Tax, PAYE/NIC, CIS returns, and Self-Assessment paper return deadlines...
Filed your company tax return late?
A penalty may now be on its way......
Taking money from your company
Running a limited company gives business owners several ways of taking money from their business....
Sales are up – so why is there no money?
It is one of the more frustrating situations for a business owner....
Could your business survive three months without you?
Imagine that tomorrow morning you were suddenly unable to work....
Companies House identity verification – Is your deadline approaching?
Companies House identity verification is now part of the compliance responsibilities of UK companies. If you are a company director or person with significant control, it is important to understand wh...
Struggling to pay HMRC? Do not wait for the problem to escalate
VAT, PAYE, Corporation Tax and Self-Assessment payments can create significant demands on cash reserves. Here is why acting early and considering HMRC Time to Pay is critical.
Missed the first MTD deadline? What should you do now?
The first quarterly deadline for Making Tax Digital for Income Tax has passed. If you missed the submission date, here are the immediate steps to take.
Are rising employment costs changing the way your business should grow?
Higher National Insurance, increases in the National Living Wage and wider employment obligations mean small businesses are rethinking their recruitment and growth strategies.
Could new late payment reforms improve your cash flow?
The Government has outlined plans to improve payment practices and support small businesses. Here is how you can strengthen your credit management and cash flow.
Planning a Property Development? Tax Rules May Change
HMRC is consulting on whether the tax treatment of pre-development costs remains appropriate and how changes could support business investment.
Do you need to pay tax on money received from family?
Receiving money from a family member usually does not trigger Income Tax for the recipient, but Inheritance Tax rules and exemptions may apply to the giver.
Tax Diary August/September 2026
Key filing deadlines and payment dates for Corporation Tax, PAYE/NIC, and CIS returns during August and September 2026.
HMRC Plans Simpler Overseas Interest Tax Relief
HMRC is consulting on simplifying withholding tax rules and Double Taxation Agreement clearance processes for UK businesses borrowing from overseas.
Is HMRC holding money that belongs to you?
How to check if you have overpaid tax to HMRC, understand the refund process, and claim rebates on job expenses, pensions, or self-assessment returns.
Selling shares this year?
Understanding Capital Gains Tax allowances (£3,000), tax rates (18%/24%), share pooling rules, and key reliefs when disposing of shares.
Is your business missing out on valuable R&D tax relief?
Research and Development (R&D) tax relief has helped thousands of innovative UK businesses recover some of the costs of developing new products and processes. Here is why you should review your position.
VAT cut on electricity bills
The Government has announced that VAT on domestic electricity bills will be reduced from 5% to 0% from 1 October 2026 as part of its latest package of cost of living measures.
Using AI in your business without creating unnecessary risk
Artificial intelligence is rapidly becoming part of everyday business. Here is how to adopt AI successfully with proper governance and risk management.
Thousands of taxpayers affected by HMRC State Pension error
HMRC has identified an issue where the amount of State Pension included in tax calculations may not have been accurate. Here is why you should check your return.
Companies House Tightens the Rules Again
Companies House continues to introduce significant reforms under the Economic Crime and Corporate Transparency Act. Here is what directors need to know.
HMRC – Digital Future Is Taking Shape
HMRC continues to modernise the UK's tax system with new digital services, enhanced Personal Tax Accounts, and automated Self-Assessment pre-population.
July 2026 – One Of The Busiest Months In The Tax Calendar
July is a critical month for tax compliance, with P11D submissions, Class 1A NIC payments, CIS returns, and the 31 July Payment on Account deadline.
Autumn Budget 2026 – What Could A Burnham Government Mean For Businesses?
With Andy Burnham expected to lead Labour ahead of the Autumn Budget 2026, we examine what a potential leadership change means for business investment and tax rules.
Are you affected by the High Income Child Benefit Charge?
The High Income Child Benefit Charge applies when adjusted net income exceeds £60,000. Learn about the thresholds, PAYE tax code collection, and why claiming is still essential.
Can you claim R & D relief?
R&D tax relief offers UK companies generous incentives for achieving advances in science or technology. Learn the requirements and qualifying expenditure criteria.
Salaried members of LLPs
Special tax rules apply to members of Limited Liability Partnerships who are treated as employees. Learn about the 3-part test for disguised salary, lack of influence, and capital stakes.
Looking for overseas customers?
Many UK businesses focus their sales efforts entirely on the domestic market, yet exporting can offer significant opportunities for growth, diversification and increased profitability.
Funding Self-Assessment tax payments
For many taxpayers, the second Self-Assessment payment on account for the 2025-26 tax year falls due on 31 July 2026. Planning ahead can help avoid unnecessary financial pressure.
Managing working capital
Working capital is the difference between a business's current assets and its current liabilities. Good working capital management helps ensure sufficient funds are available to cover routine expenses.
Ready for the New Digital Tax Rules?
As of April 2026, Making Tax Digital for Income Tax (MTD ITSA) is officially live for thousands of self-employed people and landlords across the UK.
Companies House Filing Reforms Postponed to April 2028
The UK government has officially delayed major changes to small business and micro-entity accounts filing under the ECCTA from April 2027 to April 2028.
Coping with possible business rates increases
For retail businesses, hospitality operators, offices, workshops and many other commercial premises, business rates remain a significant fixed cost which can have a major impact on profitability.
Time for a summer health check?
A summer health check does not need to be complicated, but it can provide valuable reassurance and help identify opportunities for improvement before the busy final quarter of the year begins.
Warning issued over misleading Companies House payment requests
Businesses are being urged to remain alert after Companies House and the Intellectual Property Office (IPO) issued a joint warning about unsolicited payment requests and misleading invoices.
Recent uplift in mileage rates leaves motorists out of pocket
Despite the recent increase in the approved rate from 45p to 55p per mile from 6 April 2026, many motorists may still find themselves substantially out of pocket once inflation is taken into account.
How dividends are taxed
Dividends are taxed differently from other types of income, with separate allowances and tax rates that depend on your overall level of income.
Chancellor seeks support from retail banks to drive growth
The recent announcement from Rachel Reeves highlights a clear shift in the government’s economic approach, placing retail banks at the centre of efforts to stimulate growth.
How bonuses are taxed
Bonuses are treated as taxable earnings, so both employers and employees need to understand how they are taxed and reported.
Tax relief when incorporating a business
When a sole trader or partnership transfers a business to a company, a chargeable gain may arise. Incorporation relief can help.
Do you have a personal tax account yet?
Your Personal Tax Account (PTA) is an easy and secure way to manage your tax online. register today to start using it.
Tax Diary May/June 2026
Key tax dates and deadlines for May and June 2026, including Corporation Tax and PAYE deadlines.
Child trust funds – a forgotten opportunity for young adults
Many young adults in the UK may be sitting on savings they do not even realise they have in Child Trust Funds.
New rules for letting property from May 2026
From 1 May 2026, the Renters’ Rights Act introduces the most significant changes to private renting in England for many years.
Collecting slow paying debts
Late payment remains one of the most common causes of cash flow pressure for small businesses. Here is how to improve collections.
The marginal tax trap in 2026-27
For the 2026-27 tax year, individuals with income between £100,000 and £125,140 face an effective marginal income tax rate of 60%.
New rights to sick pay and parental leave for millions of workers
The UK government has introduced significant employment law reforms that expand access to Statutory Sick Pay (SSP) and parental leave rights.
When does a hobby become a business
Many people start an activity as a hobby, but over time it can evolve into something commercial. When does it become a business for tax?
Price gouging and the governments new response
Recent global instability has increased concerns about price gouging. In response, the UK government has announced new protective measures.
Changes to reporting of BiKs
Mandatory payrolling of benefits in kind (BiKs) and taxable employment expenses will be introduced from 6 April 2027.
Tax allowances frozen for 2026-27
Income Tax thresholds will continue at their current levels for a further three years, extending the freeze until April 2031.
Companies House blunder
A Companies House blunder has raised concerns after a flaw in the WebFiling service briefly exposed sensitive company data.
MTD for Income Tax – are you affected
If you have not yet checked whether you need to use Making Tax Digital (MTD) for Income Tax, now is the time to urgently see if you are affected.
Tax Diary April/May 2026
Key tax dates and deadlines for April and May 2026, including Corporation Tax and PAYE deadlines.
External business threats and how planning can help counter them
External risks can affect even well managed businesses. Forward planning allows businesses to prepare for these risks.
What the new HMRC website does not provide
The launch of HMRC’s Tax Confident website aims to simplify the UK tax system, but there are limitations to its guidance.
Are you affected by and ready for MTD for Income Tax
Making Tax Digital for Income Tax is no longer a distant reform. From April 2026, many will be required to comply.
Companies House glitch raises concerns over data integrity
The recent disclosure of a software glitch at Companies House has raised important questions about the reliability of the UK’s corporate register.
Choosing the right sector when starting a new business
Starting a business involves many decisions, but one of the most important is selecting the right sector.
The origins of Income Tax in the UK
Income tax is often viewed as a permanent feature, but historically it began as a temporary wartime measure.
How a prolonged Iran war could affect the UK cost of living
The continuing conflict involving Iran has raised concerns about its potential impact on the global economy and UK costs.
Why UK businesses are accelerating their adoption of artificial intelligence
Artificial intelligence has moved from a future concept to a present day business issue for many UK companies.
Spring Statement 2026
The Chancellor’s Spring Statement provided a summary of the OBR Economic and fiscal outlook with several key updates.
Filling in NIC contribution gaps
National Insurance credits can help qualifying applicants to fill contribution gaps in their National Insurance record.
HMRC reminder for self-employed and landlords
HMRC has issued a timely reminder that the way to report tax will change significantly from 6 April 2026.
What the workers rights reform bill means for UK employers
The UK government has confirmed the revised terms of its wide-ranging workers’ rights reform programme, now enacted through the Employment Rights Act 2025.
How rising income can cost you valuable tax allowances and benefits
Higher earnings should mean more disposable income, but the UK tax system has thresholds where allowances are withdrawn.
Companies House ID verification – what you need to know
From late 2025, most directors and people with significant control will need to have their identity formally verified with Companies House.
Making Tax Digital for Income Tax – preparing now
MTD for Income Tax starts in April 2026 for landlords and sole traders with income above £50,000. Start preparing today.
Thinking of selling your business?
Business Asset Disposal Relief (BADR) can reduce your Capital Gains Tax to 10% on the sale of your business.
VAT on private school fees – what parents need to know
The government has confirmed that VAT at the standard rate of 20% will be applied to private school fees from 1 January 2025.
Changes to the pension lifetime allowance
The complete abolition of the Lifetime Allowance (LTA) has simplified pension planning for many, but new limits on tax-free lumps sums apply.
The future of furnished holiday lets
The preferential tax regime for Furnished Holiday Lets (FHL) is being abolished from April 2025. Landlords should prepare for the impact.
R&D tax relief merger – is your company ready?
The two previous R&D tax relief schemes have merged into a single R&D Expenditure Credit (RDEC) style scheme for all company sizes.
Dividend allowance cut – impact on shareholders
The tax-free dividend allowance has been halved to £500. This affects many small business owners who take a salary-dividend mix.
Capital Gains Tax annual exempt amount reduction
The annual exempt amount for Capital Gains Tax (CGT) has been reduced to £3,000. More individuals will now need to report gains.
National Insurance cuts for the self-employed
Significant changes to National Insurance for the self-employed include the abolition of Class 2 and a reduction in Class 4 rates.
Basis period reform – the transition year
HMRC is moving to a 'tax year basis' for all sole traders and partnerships. The 2023/24 transition year may result in accelerated tax.
High Income Child Benefit Charge threshold increase
The threshold for the High Income Child Benefit Charge (HICBC) has increased to £60,000, providing relief for many families.
Cash basis becomes the default for self-employed
The cash basis has become the default method for small businesses to calculate their taxable profits, simplifying reporting for many.
Autumn Statement 2024 – key takeaways
The 2024 Autumn Statement introduced several measures focused on long-term growth and stability. Here are the highlights.
Full expensing made permanent for companies
The 'full expensing' capital allowance, allowing companies to deduct 100% of the cost of qualifying plant and machinery, is now permanent.
ISA reforms and the new British ISA
New reforms to Individual Savings Accounts (ISAs) aim to simplify the system and encourage investment in UK-listed companies.
Spring Budget 2024 – summary for SMEs
The Spring Budget 2024 included a further 2p cut to National Insurance and an increase in the VAT registration threshold.
P11D reporting is moving to payroll
HMRC has announced that the reporting and paying of Income Tax and Class 1A NICs on benefits in kind will become mandatory through payroll.
Advisory Fuel Rates update – March 2024
HMRC has published the latest Advisory Fuel Rates (AFR) for company car users, effective from 1 March 2024.
Creative industries tax reliefs boosted
New, more generous tax reliefs for the UK's film, TV, and video games sectors have come into effect to support the creative economy.
Managing cash flow in a high-interest environment
With interest rates remaining higher than in recent years, managing cash flow effectively is more critical than ever for SMEs.
Why we all need to invest in tax planning
HMRC base their judgement on historical data. Forward-thinking tax planning helps you organise your affairs to minimise future liability.
Autumn Statement 2023 – National Insurance cuts
The Chancellor announced a significant cut to the main rate of employee National Insurance, providing a boost to take-home pay.
Making Tax Digital for Income Tax – the new timeline
HMRC has confirmed the revised timeline for MTD for Income Tax, starting with those earning over £50,000 in April 2026.
Corporation Tax – managing the 25% rate
With the main rate of Corporation Tax now at 25%, companies need to be more diligent than ever in claiming all available reliefs.
R&D tax relief – the new 'intensity' test
A new 'R&D intensive' SME scheme has been introduced, offering higher rates of relief for companies with high research spending.
VAT – changes to energy-saving materials
The 0% VAT rate for the installation of energy-saving materials has been expanded, providing opportunities for homeowners and businesses.
Pensions – the removal of the LTA charge
The Lifetime Allowance (LTA) charge has been removed, marking the first step towards the full abolition of the LTA in 2024.
Capital Gains – separation and divorce rules
New rules have come into effect that give separating couples more time to transfer assets without triggering a CGT bill.
Business rates – the 2023 revaluation impact
The 2023 revaluation of business rates has seen significant changes in rateable values across the UK. Is your business affected?
Payroll – National Minimum Wage increases
The National Living Wage and National Minimum Wage rates have seen significant increases from 1 April 2023.
Dividend allowance – the first big cut
The tax-free dividend allowance has been cut from £2,000 to £1,000, increasing the tax burden on small business owners and investors.
CGT allowance – the first big cut
The Capital Gains Tax annual exempt amount has been reduced from £12,300 to £6,000, affecting anyone selling valuable assets.
Corporation Tax – the end of the super-deduction
The popular 130% super-deduction capital allowance has come to an end. What replaces it for businesses looking to invest?
Spring Budget 2023 – full expensing introduction
The 2023 Spring Budget introduced 'full expensing' to replace the super-deduction, along with significant pension reforms.
Energy Bills Discount Scheme for businesses
The new Energy Bills Discount Scheme (EBDS) has replaced the previous support package, offering a different level of help for firms.
Self-Assessment – last minute tips
With the 31 January deadline fast approaching, here are our top tips for a stress-free self-assessment filing.
MTD for Income Tax – the 2026 delay announcement
The government has announced a significant delay to the implementation of Making Tax Digital for Income Tax, pushing it back to 2026.
Autumn Statement 2022 – threshold freezes
The 2022 Autumn Statement introduced a series of tax threshold freezes that will result in 'fiscal drag' for many taxpayers.
Business Strategy – preparing for a recession
With economic headwinds growing, how can SMEs prepare their businesses for a potential downturn?
VAT – post-Brexit transition updates
Two years on from Brexit, the VAT rules for trading with the EU continue to evolve. Here is what you need to know.
Inheritance Tax – why you need a will
A valid will is the foundation of effective inheritance tax planning. Without one, your estate may be distributed in ways you didn't intend.
Autumn Budget 2021 – Key points for SMEs
The 2021 Autumn Budget focused on recovery, with significant announcements on business rates, R&D tax credits, and the 'Scale-up' visa.
Basis Period Reform – preparing for the transition
The move to a tax-year basis for all unincorporated businesses is a major change. We explain the transition and how to manage the tax impact.
Health and Social Care Levy – what it means
A new 1.25% levy is being introduced to fund health and social care, affecting employees, employers, and the self-employed.
Capital Allowances – the super-deduction explained
The 130% super-deduction is a powerful incentive for companies to invest in new plant and machinery. Are you making the most of it?
R&D tax relief – the 2021 compliance changes
HMRC is stepping up its scrutiny of R&D tax relief claims. We look at the new requirements and how to ensure your claim is robust.
VAT – domestic reverse charge for construction
The new VAT reverse charge for the construction industry is now in force. We review the rules and the impact on your cash flow.
Making Tax Digital – the next steps for VAT
MTD for VAT is being extended to all VAT-registered businesses from April 2022. Is your business ready for the transition?
Inheritance Tax – gift planning strategies
Gifting assets during your lifetime can be an effective way to reduce your IHT liability. We look at the rules and the pitfalls.
Property – the end of the Stamp Duty holiday
The Stamp Duty Land Tax (SDLT) holiday is being phased out. We look at the new deadlines and what they mean for buyers.
Pensions – the 2021 Annual Allowance review
The Pensions Annual Allowance remains at £40,000, but the 'tapered' allowance continues to affect high earners. We explain the rules.
Director loans – avoiding the tax pitfalls
Borrowing money from your company can have serious tax consequences if not handled correctly. We look at the 'Section 455' charge.
IR35 – one year on in the private sector
The new IR35 rules for the private sector have been in place for nearly a year. We review the impact on contractors and clients.
Business Asset Disposal Relief – maximising your claim
Formerly known as Entrepreneurs' Relief, BADR offers a 10% tax rate on the sale of your business. We look at the current rules.
Trust Registration Service – the new deadlines
New rules mean that almost all UK express trusts must now be registered with HMRC, even if they have no tax liability.
SEIS & EIS – funding for startups
The Seed Enterprise Investment Scheme and Enterprise Investment Scheme offer powerful tax incentives for investors in small firms.
National Insurance – the 2022 threshold changes
The Chancellor has announced a significant increase in the National Insurance threshold, providing a tax cut for millions of workers.
Energy bills – support for businesses in 2022
With energy prices soaring, the government has announced a new support package for businesses. We look at the details.
Dividend tax – the 1.25% increase
From April 2022, dividend tax rates have increased by 1.25% across all bands. We look at the impact on your profit extraction.
Capital Gains Tax – 60-day reporting for property
If you sell a residential property that is not your main home, you must now report and pay the CGT within 60 days.
MTD for Income Tax – preparing for the transition
Making Tax Digital for Income Tax is the biggest change to the tax system in decades. We look at the requirements for sole traders.
Understanding the new VAT penalty regime
HMRC is overhauling the way it penalises late VAT returns and payments. We explain the new points-based system.
Corporation Tax – the upcoming rate increase
The main rate of Corporation Tax is set to increase to 25% from April 2023. How will this affect your company's tax bill?
The end of the furlough scheme
The Coronavirus Job Retention Scheme (furlough) has now ended. We look at the implications for employers and the steps to take.
Preparing for the Plastic Packaging Tax
A new tax on plastic packaging comes into force in April 2022. Will your business be affected, and what are the compliance requirements?
The Recovery Loan Scheme extended
The government has extended the Recovery Loan Scheme to help businesses access finance as they recover from the pandemic.
VAT reverse charge for mobile phones and computer chips
A reminder of the VAT domestic reverse charge rules for businesses trading in mobile phones and computer chips to prevent fraud.
The new Health and Social Care Levy explained
The government has announced a new tax to fund health and social care. How will it affect your business and personal finances?
Understanding the super-deduction for companies
The new 130% super-deduction capital allowance is a game-changer for corporate investment. We explain how it works.
Managing cash flow as government support ends
As furlough and business support grants come to an end, managing cash flow effectively is more important than ever.
Off-payroll working (IR35) rules for the private sector
The delayed IR35 reforms for the private sector take effect in April 2021. Are you ready for the new compliance burden?
The new VAT e-commerce rules in the EU
Major changes to EU VAT rules for e-commerce take effect in July 2021, affecting UK businesses selling goods online to EU consumers.
Capital Allowances: The Annual Investment Allowance limit
The temporary £1 million limit for the Annual Investment Allowance has been extended. How can businesses maximise this relief?
The Kickstart Scheme for employers
The government's Kickstart Scheme provides funding to create new jobs for young people. Is your business eligible to participate?
VAT Deferral – New Payment Scheme
If you deferred VAT payments between March and June 2020, you can now spread the cost over smaller monthly instalments.
The domestic reverse charge for construction is coming
After several delays, the VAT domestic reverse charge for the construction industry will take effect on 1 March 2021.
Stamp Duty Land Tax holiday details
The Chancellor has announced a temporary holiday on Stamp Duty Land Tax for residential properties. How much could you save?
Furlough scheme changes from August 2020
The Coronavirus Job Retention Scheme is entering a new phase, with employers required to contribute to the costs of furloughed staff.
Bounce Back Loans – what you need to know
The new Bounce Back Loan scheme offers fast, 100% government-backed finance for small businesses affected by COVID-19.
Statutory Sick Pay changes during the pandemic
The rules for Statutory Sick Pay have been temporarily amended to support employees and employers during the COVID-19 outbreak.
We are on your side
As we approach the end of yet another tax year it is worth reflecting on the role of HMRC in our tax affairs.
Tax-free gifts
There are certain gifts you can make that will not create a capital gains tax (CGT) charge, but care should be taken as there are exceptions.
Do you have a furnished holiday lets business?
Most property owners who let property under the Furnished Holiday Let (FHL) tax rules, submit their income and expenditure details on their tax return each year.
When assets can become a tax liability
There are certain assets that may be carried on your balance sheet at values higher than their market value or past their sell by date.
VAT – how this can affect your cash-flow
Paying VAT should never reduce your business profits as you are acting as an unpaid tax collector for HMRC.
Is your home a tax-free zone?
In most cases, if you have lived in your home during the entire period of your ownership, you should pay no capital gains tax (CGT) on any profit.
VAT – leaving the Flat Rate Scheme
The VAT Flat Rate Scheme (FRS) does simplify the calculation of VAT returns, but there are certain circumstances when you may no longer use it.
Keeping business records if self-employed
You are required to keep your self-employed business records for 5 years after the 31 January submission deadline.
Spousal CGT tax advantages
The UK tax system is biased in favour of married couples or those partners who have entered into a formal civil partnership.
In Business? Add these to your new year resolutions
Reviewing your management accounts for the nine months to the end of December is a must-do for many businesses.
Still time to file your tax returns
The deadline to file your 2018-19 tax returns is fast approaching, the 31 January 2020.
An end to uncertainty
Whatever your political motivation most of us will be relieved that last week’s election has created a government with a working majority.
Land Registry property alert service
Property owners are potentially more at risk from the activities of fraudsters. The Land Registry property alert service is set up to counter this.
What constitutes profit for tax purposes?
Profit shown on your accounts is not the figure that is used by HMRC to work out taxes due. We explain the key adjustments.
Christmas gifts
You don’t have to pay tax on a benefit (gift) to your employee if it meets certain 'trivial benefit' criteria.
Using your vehicle for business purposes
If you use your private transport for trips related to your employment, you may be able to claim tax relief.
Do not fall for the fraudsters
We are fast approaching the deadline for filing self-assessment tax returns, which coincides with a pick-up in scamming activity.
The uncertainty continues
The Brexit issue continues to drag its heels and it now looks as if we will have a general election until matters are resolved.
Beefing-up UK exports
UK farmers looking for opportunities to export beef products to China will be encouraged by the recent relaxation of export criteria.
Win while you save
In a further attempt to incentivise savings our government has created a new saving vehicle called a PrizeSaver account.
Getting ready for EU exit 31 October 2019
HMRC has published a check list of issues you will need to deal with prior to 31 October 2019. The check list has been sent to all businesses that already trade with the EU or the rest of the world. The text of the letter is reproduced below, and this contains the links to the […]
Can you claim back the VAT when you buy a car?
The short answer to this question is a resounding “no”, but as always with tax, there are exceptions. Obviously, if you are in business and not VAT registered, you cannot reclaim the VAT added to any of your purchases. If you are VAT registered HMRC has published the following guidance for VAT recovery when acquiring […]
How much tax do you pay on your dividends?
If you own a small limited company your shares entitle you to draw a return on your shareholding – in common parlance these returns are called dividends. A company can only pay dividends if it has current or accumulated tax-paid reserves. For most smaller companies this will be described as reserves or retained profits on […]
Does your employer pay for your private petrol?
A reminder that you can avoid the hefty car fuel benefit charge if you drive a company car and your employer pays for your private fuel. One way to achieve this is to repay your company for the private petrol provided. Many employers have an arrangement with their company car drivers to obtain reimbursement of […]
Unclaimed estates
There is nothing more intriguing that the notion we may be due untold riches from undisclosed sources. For example, do you have any premium bonds, and did you notify the registrar the last time you moved to a new house? And did you know that the estates of deceased persons whose beneficiaries or family cannot […]
Do you have a December year end?
December is probably the second most popular trading year end for businesses; the most popular being the 31 March. Your end of year planning should include a review of your results – prior to your year end – so that there is an opportunity to make any advantageous changes. From our perspective, there is nothing […]
Construction industry VAT changes 1 October 2019
Just one month to go until the so-called “Domestic Reverse Charge” will apply to VAT registered traders who are also registered to use the Construction Industry Scheme. There has been an awful lot of commentary in the press claiming that from 1 October, building contractors will be lumbered with paying their sub-contractors’ VAT. Perhaps a […]
Tax-free annual party
If you are starting to look forward to the forthcoming end-of-year and Christmas celebrations, and we could all do with a bit of festive cheer, you may find the following article useful: it sets out the rules and regulations that qualify such events for a tax-free status: no benefits in kind, tax or NIC consequences. […]
Are you making the most of Trivial Benefits
Earlier this year we highlighted the tax concession afforded by the so-called Trivial Benefit rules. We said: It is possible to make small tax-free payments to employees, including directors… Employers and employees don’t have to pay tax on such a benefit if all of the following apply: it cost you £50 or less to provide, […]
Autumn Budget 2019
If there was a measure of stability in UK politics, we would be expecting the usual dispatch-box presentation by the Chancellor before Christmas. The annual budget is usually presented November each year. This may still happen this year, but present uncertainties regarding the Brexit outcome, and the present government’s slim majority may scupper that timetable […]
Why you may need an EORI number
The end of next month, 31 October 2019, is the latest deadline for our exit from the EU and the recent hiatus seems to be pushing the UK ever closer to a no-deal outcome. Accordingly, if you are involved in buying or selling goods to EU countries, you should apply now for an Economic Operator […]
Changes to contractor VAT from 1 October 2019
We have alerted building contractors and sub-contractors in previous newsletters of changes to the VAT rules from 1 October 2019. In a nut-shell, if you are subject to the Construction Industry Scheme and if you are registered for VAT, from the 1 October 2019 you may need to change the way you account for VAT […]