12-05-2025 Landmark economic deal with United States
On 8 May 2025, the UK government announced a landmark trade agreement with the United States, aimed at reducing tariffs and bolstering key British industries. This deal is projected to save thousands ... read more
12-05-2025 Still recording your accounts on spreadsheets?
For small and medium-sized enterprises (SMEs), adopting accounting software offers a range of practical benefits that help streamline financial management, reduce errors, and improve decision-making. ... read more
08-05-2025 How to check employment status
HMRC’s CEST tool gets a revamp from 30 April 2025, with clearer questions and updated guidance to help users decide employment status for tax—plus stronger backing from HMRC.
In a Written ... read more
08-05-2025 Reversal of requirement to report more detailed employee hours paid
The government has scrapped plans for detailed PAYE reporting of employee hours from April 2026, citing concerns over cost, complexity, and practicality. Employers will stick with current rules.
As ... read more
08-05-2025 Mandating the Payrolling of benefits in kind update
HMRC has delayed mandatory payrolling of benefits in kind by a year to April 2027, giving employers and software providers more time to prepare. Penalties will be eased in the first year.
The ... read more
08-05-2025 Income reporting threshold increased
The £3,000 reporting threshold for trading, property, and other income will simplify tax returns—300,000 people could be freed from filing. A digital alternative is also coming.
As part of the ... read more
08-05-2025 Changes to VAT on donations to charities
The government is consulting on new VAT relief for goods donated to charities for free use. Could this fix an unfair gap in current rules? Have your say by 21 July 2025.
A new joint consultation from ... read more
08-05-2025 Electronic invoicing consultation
The government wants your say on e-invoicing. Quicker payments, fewer errors, and better VAT reporting are on the table. A 12-week consultation could shape the future.
HMRC and the Department for ... read more
07-05-2025 How to Increase Gross Profit Returns
Gross profit is one of the clearest indicators of how well your business is performing. It’s the money left after deducting the direct costs of producing goods or services from your turnover. If your ... read more
07-05-2025 Fresh Ideas for Additional Revenue Streams
For many small and medium-sized enterprises (SMEs), the core business keeps the lights on, but additional income streams can provide much-needed stability and growth. Whether you're a service ... read more
01-05-2025 State Benefits – What is taxable and what is not
Not all state benefits are tax-free! Some, like the State Pension and Carer’s Allowance, are taxable, while others, like PIP and Universal Credit, are not. Knowing the difference can help you stay on ... read more
01-05-2025 Is income from hobbies taxable?
Not every money-making hobby counts as a business for tax purposes. Knowing when a hobby crosses into trading territory is vital to avoid unexpected tax bills. If your side project is growing, it ... read more
01-05-2025 Tax relief if required to work from home
If employees must work from home and their employer does not reimburse certain costs, they may be entitled to claim tax relief. Understanding the rules for household expenses, business travel, and ... read more
01-05-2025 Tax refunds for dissolved companies
Dissolving a company ends its legal existence — but unresolved assets become property of the Crown under bona vacantia. Directors must act carefully to settle assets and liabilities before ... read more
01-05-2025 Tax treatment of income after cessation
After a business closes, income can still arise. Post-cessation receipts must be properly reported and taxed under specific rules. Knowing what qualifies — and what does not — ensures ... read more
01-05-2025 Definition of R&D for tax purposes
When claiming tax relief or capital allowances on R&D, it’s crucial to ensure activities meet strict statutory definitions. Understanding Section 437 ITA and DTI guidelines is key to securing ... read more
28-04-2025 Access to Funding and Credit
For many small business owners, getting access to funding feels like trying to squeeze water from a stone. Traditional banks have always been a bit cautious when it comes to lending to smaller ... read more
28-04-2025 Cybersecurity
Cybersecurity might sound like something only big corporations need to worry about, but in truth, small businesses are increasingly in the firing line. In fact, many cyber criminals deliberately ... read more
24-04-2025 More in line for savings boost
From April 2025, more low-income workers on Universal Credit can join Help to Save. Save up to £50/month and get a 50% bonus - up to £1,200 over 4 years. A simple way to build your savings.
The ... read more
24-04-2025 Have you set up your Personal Tax Account yet?
Skip the phone queues. Your Personal Tax Account lets you manage everything from tax codes to refunds online. Quick, secure, and all in one place. If you haven’t signed up yet, now’s the time.
Your ... read more
24-04-2025 Less than a year before MTD for Income Tax starts
MTD for Income Tax kicks off in April 2026 for those earning over £50k. Digital records, quarterly updates, and tougher penalties are on the way. If this affects you, it’s time to get ready.
Designed ... read more
24-04-2025 Reminder of Employer NIC changes from April 25
A reminder that increases to the rate of National Insurance contributions (NICs) that are paid by employers came into effect on 6 April 2025. The main rate of secondary Class 1 NICs has increased to ... read more
24-04-2025 Repeal of furnished holiday lets regime
From April 2025, holiday lets lose their special tax treatment. Landlords must prepare for new Income, Capital Gains, and Corporation Tax rules. Here's what’s changing.
The repeal of the Furnished ... read more
24-04-2025 VAT Road Fuel Scale Charges
The new VAT road fuel scale charges applicable from 1 May 2025 to 30 April 2026 have been published. The changes amend the VAT scale charges for taxing private use of road fuel to reflect changes in ... read more
23-04-2025 The innocent touch – where a lack of clear guidelines and policies makes a dismissal more likely to be unfair
A school inspector dismissed for brushing water off a pupil’s head won his unfair dismissal claim against OFSTED. Mr. Hewston worked as a Social Care Regulatory Inspector and, on the 8th of October ... read more
16-04-2025 Higher rate tax relief on pension contributions
Want to make the most of your pension savings? You could claim up to 45% tax relief on contributions, plus carry forward unused allowances. Here’s how to boost your retirement pot with generous HMRC ... read more
16-04-2025 Understanding VAT Bad Debt Relief
Struggling with unpaid invoices? If you've paid VAT to HMRC but never received payment from your customer, you may be able to reclaim that VAT. Learn how bad debt relief works and whether switching to ... read more
16-04-2025 Still time to repay private fuel costs and avoid tax charge
Use a company car for personal trips? Avoid a hefty tax charge by reimbursing your employer for private fuel by 6 July 2025. It’s called “making good” - and it could save you a chunk in ... read more
16-04-2025 Tax and employee suggestion schemes
Have you set up a suggestion scheme for ideas that could save or earn you money? Employee suggestion schemes can offer up to £5,000 tax-free for valuable input — and even £25 for smaller ... read more
16-04-2025 Tax relief for landlords replacing domestic items
Swapped an old fridge or carpet in your rental property? Landlords can claim tax relief on replacing domestic items - but not if it's an upgrade! Know the rules and save money by claiming what you are ... read more
16-04-2025 Statutory Redundancy rights
Redundant? You could receive up to £30,000 tax-free, whether it’s statutory pay or a better deal from your employer. Know your rights, check the 2025-26 limits, and understand how your age and service ... read more
14-04-2025 UK Responds to New US Tariffs
The UK’s Business and Trade Secretary, Jonathan Reynolds, has set out the government's position following the United States' recent imposition of new tariffs on UK exports. These include a 10% ... read more
14-04-2025 £13.9bn of R&D funding
The UK government has announced a record-breaking £13.9 billion in research and development (R&D) funding for the coming year. This major investment is designed to drive innovation, create quality ... read more
10-04-2025 Employment Restrictions After Termination: Be Cautious
Kau Media Group (KMG) Ltd. sought to enforce two post-termination employment restriction (PTRs) contained in a contract of employment to restrict Mr. Hart, a former employee, from working for his ... read more
10-04-2025 Tax Diary May/June 2025
1 May 2025 - Due date for corporation tax due for the year ended 30 July 2024.
19 May 2025 - PAYE and NIC deductions due for month ended 5 May 2025. (If you pay your tax electronically the due date ... read more
10-04-2025 Child Benefit increases April 2025
Child Benefit has risen for 2025-26: £26.05 for eldest, £17.25 for others. Claim continues to age 20 in approved education. HICBC still applies for incomes over £60K - but PAYE option coming this ... read more
10-04-2025 Don’t forget to update your NMW and NLW wage rates
Minimum wage rates rose on 1 April 2025. NLW now £12.21, and big increases for younger workers too. Make sure you're compliant - underpayment can cost up to £20K per worker and a director ban. Time to ... read more
10-04-2025 Frozen tax allowances and fiscal drag
Tax thresholds frozen till 2028? That’s fiscal drag in action - more tax paid without rate rises. It’s a stealthy revenue boost for HM Treasury, projected to bring in £38bn a year by 2029. Inflation ... read more
10-04-2025 Checking your tax code for 2025-26
Do you know what your 2025-26 tax code means? It affects how much tax is taken from your pay or pension. Check now to make sure you're on the right code and not overpaying! Here's what the letters and ... read more
10-04-2025 Filing ATED return April 2025
From April 2025, updated ATED rates apply to residential properties held by companies and other Non-Natural Persons (NNPs). Make sure returns and payments are submitted by 30 April to avoid penalties. ... read more
10-04-2025 Make the most of trivial benefit payments 2025-26
Small gifts can mean big tax savings! Use the trivial benefits exemption in 2025-26 to reward employees with non-cash perks under £50 - no PAYE, no P11D, and no NIC. A smart, simple way to say ... read more
07-04-2025 Dealing with supply line interruptions
Supply line interruptions can be a nightmare for any business. Whether it’s a delay in deliveries, a shortage of materials, or problems with international shipping, things can grind to a halt fast. ... read more
07-04-2025 Managing gross profit returns
Gross profit is one of the clearest indicators of how well your business is performing. It’s the amount left after deducting the cost of goods sold (COGS) from your sales revenue. Managing your gross ... read more
03-04-2025 HMRC interest rate increases
HMRC has announced that interest rates for late payments will increase by 1.5% for all taxes starting 6 April 2025. This change, which was first announced at Autumn Budget 2024, will raise the late ... read more
03-04-2025 Registering informal money transfer businesses
HMRC has launched a campaign targeting informal money transfer networks like Hawala, aiming to combat money laundering and protect communities. Businesses must register for AML supervision or risk ... read more
03-04-2025 R & D clearance consultation
Following the Spring Statement, HMRC is inviting feedback on the idea of expanding the use of advance clearances for R&D tax reliefs, aiming to reduce errors and fraud, provide businesses with ... read more
03-04-2025 Verifying identity at Companies House – From April 2025
New rules under the Economic Crime and Corporate Transparency Act mean identity checks will soon be required at Companies House. From directors to agents, all those running UK companies will need to ... read more
03-04-2025 Business Asset Disposal Relief rates from April 2025
Business Asset Disposal Relief (BADR) provides a reduced Capital Gains Tax (CGT) rate on the sale of a business, shares in a trading company, or an individual's interest in a trading partnership. This ... read more
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