04-12-2025 Increase in savings guarantee for bank deposits
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 per person. This change came into ... read more
04-12-2025 Update from HMRC on MTD testing
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 Digital for Income Tax (MTD for IT) system. ... read more
04-12-2025 Less than 2 months to self-assessment filing deadline
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 their 2024-25 tax return to ... read more
04-12-2025 Work out your VAT fuel scale charge
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 also used for business ... read more
04-12-2025 Defer paying Class 1 National Insurance on a second job
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 requested when Class 1 National ... read more
04-12-2025 Who pays Income Tax in Scotland
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 status is ... read more
02-12-2025 When disciplinary processes and non-compete clauses implode
Many modern companies insist on the inclusion of restrictive covenants to limit the freedoms of employees upon the termination of their contracts. However, the High Court recently reinforced the ... read more
01-12-2025 Outlook For Food And Energy Prices In The Year Ahead
Food and energy costs remain central concerns for households and businesses because they influence everything from wages to margins to day to day operating decisions. Inflation is easing compared to ... read more
01-12-2025 The likely direction of interest rates in 2026
As we look ahead to 2026, there is growing speculation about how the Bank of England will manage interest rates during what many economists believe will be a period of calmer inflation, steadier wage ... read more
27-11-2025 Autumn Budget 2025 – Personal Tax changes
The chancellor Rachel Reeves announced as part of the Autumn Budget measures that the Income Tax thresholds will be maintained at their current levels for a further three years until April 2031. This ... read more
The Chancellor of the Exchequer, Rachel Reeves announced increases to the Minimum Wage rates on the eve of the Budget. The Chancellor confirmed that the government has accepted in full the proposals ... read more
27-11-2025 Autumn Budget 2025 – Pension changes
The Chancellor has kept the main pension allowances unchanged but has confirmed a new cap on salary sacrifice arrangements that will apply from April 2029.
There had been heated speculation that the ... read more
27-11-2025 Autumn Budget 2025 - Alcohol and Tobacco Duty
The Chancellor has confirmed a series of duty increases on tobacco, vaping liquid, and alcohol that will take effect over the next year, with new rates intended to balance public health concerns with ... read more
27-11-2025 Autumn Budget 2025 - Fuel Duty rates
In the Autumn Budget, the Chancellor had been expected to increase fuel duty rates. However, she has extended the fuel duty cut for a further 6 months to help support households and businesses.
The ... read more
27-11-2025 Autumn Budget 2025 – High Value Council Tax Surcharge
Starting in 2028-29, the government will introduce a High Value Council Tax Surcharge (HVCTS) for residential properties in England valued at £2 million or more. This surcharge will be collected by ... read more
26-11-2025 Budget Summary 26 November 2025
The degree of speculation about this year’s Budget announcements was further compounded when the Office of Budgetary Responsibility uploaded their report on Budget changes prior to Rachel Reeves ... read more
24-11-2025 The link between planning and progress
Most business owners know that progress matters, but many still hesitate when it comes to planning. It can feel like an extra task or something that only large companies need to worry about. Yet, in ... read more
24-11-2025 How a business grows financially by retaining profits
Many business owners focus on sales as the main driver of growth. Sales matter, but they are only part of the story. Real financial growth happens when a business retains profits. Keeping a portion of ... read more
20-11-2025 MTD – qualifying income
Making Tax Digital for Income Tax (MTD for IT) will become mandatory in phases from April 2026. If you are self-employed or a landlord and have over £50,000 in qualifying income you need to start ... read more
20-11-2025 Christmas crafters and tax
If you earn fees or sell goods as a side hustle, you may need to pay tax on your profits.
HMRC has launched a new press release encouraging Christmas crafters and anyone with a fee earning hobby to ... read more
20-11-2025 What is a demerger?
A demerger involves splitting the trading activities of a single company or group into two or more independent entities. This can be facilitated by distributing the assets of a holding company to its ... read more
20-11-2025 Taxable & tax-free state benefits
While there are many state benefits available, it is not always clear which of these are taxable and which are tax-free.
HMRC’s guidance outlines the following list of the most common state benefits ... read more
20-11-2025 National Insurance credits and Child Benefit
Claiming Child Benefit can provide an important benefit by granting National Insurance credits.
If you claim Child Benefit and your child is under 12, you will automatically receive National ... read more
20-11-2025 Claim flat rate expenses for work clothing and tools
If you use your own money to buy items for work, you may be eligible to claim tax relief as long as the items are essential for your job and are used solely for work purposes.
Flat rate expenses ... read more
19-11-2025 Early termination of probation can constitute wrongful dismissal
The claimant began employment as a Contracts Coordinator on 23 January 2023, subject to a contractual 6-month probationary period, one which required 5 weeks' notice for termination. The contract ... read more
17-11-2025 Increase in the London congestion charge from January 2026
The daily charge for driving within the London Congestion Charge zone will rise from £15 to £18 from 2 January 2026. This is the first increase in several years and forms part of Transport for ... read more
17-11-2025 Preparing for tighter credit conditions in 2026
Many small businesses rely on a mix of overdrafts, card facilities and short term loans to maintain day to day cash flow. During the past year banks and alternative lenders have become more cautious, ... read more
13-11-2025 Enforcement of the minimum wage
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
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