The Department for Business & Trade has recently published a report that outlines the government's enforcement of the National Minimum Wage (NMW) and National Living Wage (NLW) for the 2024–25 ... read more
13-11-2025 HMRC contacting sole traders
HMRC is currently contacting certain sole traders by email to reiterate the importance of adjusting business expenses for personal use.The email explains:why personal use must be adjusted on your ... read more
13-11-2025 Check when you can expect a reply from HMRC
HMRC offers a helpful online tool that allows agents and taxpayers to check when they can expect a response to a query or request that they have made. The online tool is updated weekly with the latest ... read more
13-11-2025 Set up your tax app with HMRC
The free HMRC tax app now provides quick access to tax codes, income history, self-assessment details, National Insurance records and even payment options, all from your phone.
HMRC’s free tax app is ... read more
13-11-2025 Paying tax arrears using HMRC payment plans
If you are unable to pay your tax bill, it's important to reach out to HMRC as soon as possible.
HMRC may offer a Time to Pay arrangement, allowing you to settle the debt in manageable instalments ... read more
13-11-2025 Penalty points for late filing of VAT returns
Many businesses are still unaware that the VAT late filing and late payment rules now operate on a points-based system, where repeated delays can quickly lead to a £200 penalty and added ... read more
10-11-2025 Directors liability for company debts
A limited company is a separate legal entity. In normal circumstances, its debts belong to the company, not to the directors. This is one of the central advantages of incorporation. However, the ... read more
10-11-2025 How many businesses are there in the UK?
Current estimates suggest that there are around 5.6 million businesses operating in the UK. This figure comes from the Department for Business and Trade and the Office for National Statistics. What ... read more
07-11-2025 Tax Diary December 2025/January 2026
1 December 2025 - Due date for Corporation Tax payable for the year ended 28 February 2025.
19 December 2025 - PAYE and NIC deductions due for month ended 5 December 2025. (If you pay your tax ... read more
06-11-2025 Tell HMRC about unpaid tax on cryptoassets
Where cryptoasset tokens (also known as cryptocurrency) are held personally, this investment is usually undertaken in the hope of making a capital appreciation in its value or to make particular ... read more
06-11-2025 Pay for imports declared via the CDS
If your business imports goods into the UK, it is important to be familiar with the Customs Declaration Service and to ensure that any duty payments are made correctly and on time to avoid delays, ... read more
06-11-2025 Tax and trivial benefits
There is a trivial benefit-in-kind (BiK) exemption that applies to small, non-cash gifts (such as a bottle of wine or a bouquet of flowers) that are occasionally given to employees.
This exemption ... read more
06-11-2025 Company Voluntary Arrangements
A Company Voluntary Arrangement (also known as a CVA) is a special arrangement that allows a company with debt problems or that is insolvent to reach a voluntary agreement to pay its business ... read more
06-11-2025 P45s, P11Ds and P60s – what are they?
Most employees will come across forms such as the P45, P11D and P60 during their working life, and knowing what each one is for can make it much easier to keep track of your tax position.
A P45 is ... read more
06-11-2025 Updating your tax code
It is quite common for tax codes to be wrong, particularly if your income or employment situation has changed, so it is worth taking a few moments to check that HMRC has the correct information about ... read more
05-11-2025 Tread carefully when using temporary contracts to confer tax breaks
A recent ruling has established that temporary worker arrangements do not constitute a single, continuous employment relationship in which workers retain the unfettered right to refuse assignments. ... read more
03-11-2025 Reviewing insurance cover
Many businesses arrange insurance in the early days and then only look at it again when something changes, or when a renewal comes around. The difficulty with this approach is that risks evolve over ... read more
03-11-2025 Understanding the responsibilities of company directors
Taking on the role of a company director is more than holding a title. Directors have legal duties that shape how a company is run, how decisions are made and how risks are managed. These ... read more
30-10-2025 Why ID verification is supposedly good for business
Last week, we covered the new requirement for directors and persons with significant control (PSCs) to verify their identities from 18 November 2025. This process will be rolled out over 12 months, ... read more
30-10-2025 Business Asset Disposal Relief – the present rates
If you are thinking about selling a business or shares, it is important to understand how Business Asset Disposal Relief works, particularly with rates set to increase from April 2026.
Business Asset ... read more
30-10-2025 Taxable benefits for use of company car
The tax you pay on the use of a company car depends largely on its CO2 emissions, so choosing a lower emission or electric vehicle can make a significant difference to your overall tax cost.
The ... read more
30-10-2025 Advantages of VAT Flat Rate Scheme
If your business has relatively low VATable expenses, the VAT Flat Rate Scheme can simplify your VAT reporting and may also improve cash flow.
The VAT Flat Rate Scheme is designed to simplify VAT ... read more
30-10-2025 When you don't need to make payments on account
If you file a Self-Assessment return you may need to pay your tax in three instalments, so it is useful to know when payments on account apply and when they can be reduced or removed.
The first two ... read more
30-10-2025 Paying Class 4 NICs
If you are self-employed and your profits are above £12,570, you may need to pay Class 4 National Insurance, so it is important to understand how the rates and rules apply to you.
Self-employed ... read more
30-10-2025 Beware of the risks of engaging employees as sham contractors
Recently, a clear legal precedent confirmed that the nature of an individual's work is determined by the reality of the actual employment relationship rather than by arbitrary titles. Mr. Gooch worked ... read more
27-10-2025 Facing change with confidence
Change is part of every business journey. Whether it is prompted by new technology, regulation or shifts in the market, the ability to adapt determines how well a business performs in the long term. ... read more
27-10-2025 Valuing and pricing goods and services
For any business, knowing how to value and price what it sells is fundamental to success. Yet many small firms still rely on guesswork or simply copy competitors’ prices without understanding whether ... read more
23-10-2025 Have you verified your ID at Companies House?
From 18 November 2025, all company directors and people with significant control (PSCs) will be legally required to verify their identity at Companies House. This verification is being phased in over ... read more
23-10-2025 Report and pay Capital Gains Tax
If you have sold a UK residential property since 6 April 2020, it is important to be aware that the reporting and payment deadlines for Capital Gains Tax have changed. For property sales completed on ... read more
23-10-2025 Reliefs and allowances for Corporation Tax purposes
Companies can reduce their Corporation Tax bill through a range of reliefs, including R&D credits, Patent Box, and creative industry tax reliefs, all of which will help to lower the overall tax on ... read more
23-10-2025 Reporting foreign income to HMRC
If you are UK resident and receive income from abroad, such as overseas wages, rent, or investments, you may need to pay UK Income Tax and report it through Self-Assessment.
Income Tax is generally ... read more
23-10-2025 Claiming lettings relief
If you have tenants in your home, it’s essential to understand the Capital Gains Tax (CGT) implications. Typically, there is no CGT on the sale of a property used as your main residence due to Private ... read more
23-10-2025 Claiming for working at home
Employees who are working at home may be entitled to claim tax relief on certain work-related expenses. Where such costs are not reimbursed by the employer, either by direct payment or an allowance, ... read more
22-10-2025 Don’t be tempted to withhold pay as a form of leverage
Ms Constantine had been a veterinary surgeon since 2017. Initially, she had worked every day with two half days rest, but this increased to four full days and a weekend every three weeks. Moreover, ... read more
20-10-2025 UK productivity remains disappointingly weak
The UK continues to struggle with low productivity growth, a long-running challenge that shows little sign of improvement. In the three months to June 2025, output per hour worked was around 1.5% ... read more
20-10-2025 Why solvency is the true test of business strength
Every successful business, no matter how innovative or fast-growing, ultimately depends on one simple measure: solvency. A solvent business is one that owns more than it owes, with sufficient assets ... read more
17-10-2025 CIS – qualifying for gross payment status
The Construction Industry Scheme (CIS) is a set of special rules for tax and National Insurance for those working in the construction industry. Businesses in the construction industry are known as ... read more
16-10-2025 Deduction of tax on yearly interest
The tax legislation requires the deduction of tax from yearly interest that arises in the UK. This typically refers to interest that is subject to Income Tax or Corporation Tax.
The legislation ... read more
16-10-2025 Loss of personal allowance – the £100k ceiling
For the current tax year, taxpayers with adjusted net income between £100,000 and £125,140 will face an effective marginal tax rate of 60%, as their £12,570 tax-free personal allowance is gradually ... read more
16-10-2025 VAT on goods you export
Exports from Great Britain or Northern Ireland can be zero-rated for VAT, provided businesses obtain valid export evidence within three months of sale and meet all HMRC documentation rules; accuracy ... read more
16-10-2025 Claiming 4-years Foreign Income and Gains relief
The remittance basis of taxation for non-UK domiciled individuals (non-doms) was replaced with the new Foreign Income and Gains (FIG) regime from April 2025. This new regime is based on tax residence ... read more
16-10-2025 Business Asset Disposal Relief changes
Business Asset Disposal Relief (BADR) offers a significant tax benefit by reducing the rate of Capital Gains Tax (CGT) on the sale of a business, shares in a trading company or an individual’s ... read more
13-10-2025 Business meetings - Face to face or online?
The way we meet has changed dramatically in recent years. Technology now makes it possible to discuss projects, close deals and hold team meetings without ever leaving our desks. Yet for many, there ... read more
13-10-2025 Winning new contracts without offering punitive credit terms
In today’s competitive market, many businesses feel pressured to extend generous payment terms to win new contracts. However, offering long or risky credit arrangements can strain cash flow and expose ... read more
09-10-2025 Check if you can cash in a Child Trust Fund
HMRC has issued a press release urging 18-23 year olds who have yet to claim their Child Trust Fund (CTF) cash to do so as soon as possible. According to HMRC, over 758,000 young adults in this age ... read more
09-10-2025 Inheritance Tax and CGT relief for national heritage assets
Certain buildings, land, works of art, and other objects of national significance may be exempt from Inheritance Tax and Capital Gains Tax (CGT) when they are transferred to a new owner. This ... read more
09-10-2025 Understanding the tax implications of divorce
When a couple is separating or undergoing divorce proceedings, tax issues are often not the first thing on their minds. However, alongside the emotional challenges, it is important to understand the ... read more
09-10-2025 The Marriage Allowance if circumstances change
Married couples and civil partners could save up to £252 a year by transferring part of one partner’s unused personal allowance to the other, but you may need to cancel the claim if your income or ... read more
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