The temporary 5% reduced rate of VAT introduced for certain children’s meals, tickets and family attractions ended on 1 September 2026. The relief applied from 25 June 2026 and was intended to reduce the cost of selected activities and services for families during the summer holidays. The relief covered qualifying children’s meals
More...HMRC is currently carrying out its annual reconciliation of PAYE for the 2025-26 tax year. Between June and November, HMRC calculates the Income Tax paid by individuals and checks whether the correct amount has been collected. Where HMRC identifies a difference, it may issue a tax calculation letter, known as a P800. If you receive a
More...UK employers with employees who normally work overseas may have PAYE and National Insurance obligations when those employees come to the UK to carry out their duties in the UK on a short-term basis. Employers should consider the position whenever an overseas employee visits the UK to work. The fact that the employee remains employed and
More...Businesses planning major infrastructure and development projects should be aware of a new government consultation on the tax treatment of predevelopment costs. The consultation follows the conclusion of recent litigation at the Supreme Court. The Court found that certain early-stage surveys and studies for offshore wind farms did not
More...The tax rules concerning what constitutes a distribution for tax purposes have remained largely unchanged since Corporation Tax was introduced in 1965. HMRC has recently published a consultation looking at possible changes to bring the rules more closely into line with modern commercial practices. The consultation considers seven areas
More...A strong VAT control system should clearly identify who is responsible for VAT, document the processes involved and regularly check that controls are working. HMRC also recommends keeping procedures up to date when the business, its systems or the VAT rules change. Businesses should also review how VAT data moves through their systems.
More...Where an employee is promised a discretionary bonus as an incentive, an employer may be held liable for the full figure if the preconditions have been met and the chain of authorisation is fully satisfied. Indeed, a recent ruling by a tribunal has made it clear that employers cannot unilaterally alter the preconditions or quantum of a
More...The latest figures from the Office for National Statistics suggest that conditions remain challenging for many UK businesses. In July 2026, 15% of trading businesses reported an increase in turnover compared with the previous month. However, 22% reported that turnover had fallen. Economic uncertainty remains an important concern, while
More...An important change is coming to the way companies file their annual accounts. From 1 April 2028, all UK-registered companies will be required to file their annual accounts with Companies House using commercial software. The existing web and paper filing routes for company accounts will close. The change will affect companies that
More...Businesses that register for VAT may be able to reclaim VAT paid on certain goods and services purchased before VAT registration. There are specific time limits for claiming pre-registration VAT. VAT on goods can generally be reclaimed where the goods are still held by the business or have been used to produce other goods that are still
More...Missing a tax deadline can result in penalties from HMRC, but a taxpayer may be able to appeal if they have a genuine reasonable excuse. Whether an excuse is accepted depends on the individual facts and whether the taxpayer took action to put things right without unnecessary delay. HMRC does not provide a complete list of acceptable
More...Employers providing uniforms or protective clothing to employees need to understand the tax and National Insurance rules that apply. The treatment depends on whether the clothing is required for the employee’s job, is a uniform worn only at work, or is simply additional clothing provided by the employer. Most uniforms and protective
More...Businesses investing in qualifying assets may be able to claim the Annual Investment Allowance (AIA) and deduct the full cost of eligible purchases from their profits before tax. This can help by reducing the amount of taxable profit in the period the investment is made. The AIA can generally be claimed by sole traders, companies and
More...Businesses should regularly review whether individuals working for them are correctly classified as employees, workers or self-employed. Getting employment status wrong can result in unexpected tax liabilities, penalties and loss of employment rights. Employment status affects both the rights of the individual and the responsibilities of
More...Self-employed individuals can deduct allowable business expenses from their income when calculating taxable profits. However, businesses must keep accurate records and evidence to support the costs being claimed. HMRC requires taxpayers to keep proof of business expenses, although evidence does not usually need to be submitted with a
More...Cybercrime is no longer a problem that only affects large organisations. Increasingly, small and medium-sized businesses are becoming targets because criminals often see them as having weaker security and fewer resources to recover from an attack. A successful cyberattack can have serious consequences. Customer information may be stolen,
More...Employment law continues to evolve, and businesses should keep a close eye on forthcoming changes that may affect the way they recruit, manage and retain staff. Although many of the proposed reforms are still being developed, employers should not wait until new legislation comes into force before reviewing their existing
More...Receiving tax relief on pension contributions into a workplace pension is a great way to help prepare for retirement. In addition, contributions from your employer can make the pension savings even greater. If you are automatically enrolled into a workplace pension a percentage of your earnings is paid into your pension fund each
More...If you become liable to pay a tax or register for a tax that HMRC has not already been informed about, you must notify HMRC within the relevant time limit. Failing to do so can result in a financial penalty in addition to the tax and any interest due. A failure to notify can arise in a range of situations, including when a business
More...When a sole trader or the partners in a partnership transfer a business to a limited company, Capital Gains Tax (CGT) may arise. This is because business assets are normally treated as being transferred at their market value, which may be considerably more than their original cost. However, Incorporation Relief can allow some or all of
More...Employers providing loans to employees or directors need to ensure they correctly calculate any taxable benefit using HMRC’s official rate of interest. Where a loan is provided at no interest or at a rate below the official rate, a taxable benefit may arise. These types of loans are referred to as beneficial loans. A beneficial loan
More...Businesses seeking investment through the Seed Enterprise Investment Scheme (SEIS) or Enterprise Investment Scheme (EIS) can benefit from obtaining advance assurance from HMRC before approaching investors. Advance assurance allows a company to ask HMRC whether a proposed investment is likely to meet the conditions of a venture capital
More...Companies and other organisations that are liable for Corporation Tax must ensure they register with HMRC at the correct time. Failing to register when required could result in missed filing obligations and potential penalties. Most limited companies can register for Corporation Tax when they are first incorporated at Companies House. If
More...A recent ruling has determined that targeting individuals online, even on a private group chat, can lead to a loss of employment. A Mr. Y was employed by the Royal Mail as a delivery driver with an impeccable, longstanding record of service. This was not to last as, in 2022, a labour dispute orchestrated by his union led to the creation
More...Technology is changing the way businesses operate, and the pace of change is only increasing. While large organisations often have dedicated IT departments, many small businesses still rely on traditional methods that consume valuable time and limit productivity. Improving digital skills can help businesses work more efficiently, reduce
More...Economic uncertainty has affected the confidence of many small business owners. Rising costs, changing customer demand and pressure on cash flow have led some businesses to postpone investment until conditions improve. While this cautious approach is understandable, waiting for the economy to recover before taking action can mean missed
More...After someone dies, the beneficiaries may find that the way an estate has been distributed does not reflect their wishes or the family’s circumstances. A Deed of Variation can allow beneficiaries to change how inherited assets are passed on and, in some cases, can help reduce the amount of tax payable. It is important to note that any
More...Stamp Duty Land Tax (SDLT) is a tax that may apply when you buy land or property in England or Northern Ireland. It is important to check whether SDLT applies before completing a purchase, as the tax can represent a significant additional cost. SDLT can apply when you buy a freehold property, a new or existing leasehold property, a
More...Cash basis accounting is a simplified method used by sole traders and other unincorporated businesses to work out income and expenses for self-assessment in a straightforward manner. The cash basis is the default method for calculating income and expenses for self-employed individuals and partnerships when completing their Income Tax
More...The £1,000 property allowance is a helpful for individuals with small amounts of property income. The allowance provides a tax exemption of up to £1,000 a year against gross property income, meaning some landlords may not need to report their income to HMRC. The allowance applies to income from land or property, such as renting out a
More...Employers can usually provide bicycles and cycling equipment to employees as a tax-free benefit. The Cycle to Work scheme can help employees save tax and National Insurance on the cost of providing cycling equipment while encouraging more sustainable travel. Under the scheme, employers can lend or hire bicycles and cyclists’ safety
More...What happens if you discover a mistake on your tax return? The good news is that errors can usually be corrected, but it is important to take action as soon as possible to avoid paying the wrong amount of tax or missing out on a possible refund. If you realise that you have made an error after submitting your self-assessment tax return,
More...1 September 2026 - Due date for corporation tax due for the year ended 30 November 2025. 19 September 2026 - PAYE and NIC deductions due for month ended 5 September 2026. (If you pay your tax electronically the due date is 22 September 2026) 19 September 2026 - Filing deadline for the CIS300 monthly return for the month ended 5
More...Energy costs remain a significant overhead for many UK businesses. Although wholesale prices have eased from the exceptional highs seen in recent years, uncertainty in global energy markets means prices can still fluctuate sharply. For many small businesses, reducing energy consumption remains one of the simplest ways to improve
More...Many successful businesses eventually reach a point where additional finance is needed. Whether the objective is purchasing equipment, expanding premises, recruiting staff or improving cash flow, access to funding can often determine how quickly a business can grow. Unfortunately, many applications are rejected, not because the business
More...Employees who use their own vehicle for business journeys may receive Mileage Allowance Payments (MAPs) from their employer. These payments can be made tax-free up to HMRC’s approved amount, calculated by multiplying business miles travelled by the relevant rate per mile. Effective since 6 April 2026, the approved mileage rate for cars
More...Some self-employed individuals experience significant fluctuations in their profits from one year to the next. When this happens, HMRC’s averaging relief may help to regularise tax payments by levelling profits across more than one tax year. However, the relief is only available to limited groups of taxpayers. Farmers and market
More...UK taxpayers with income from overseas may not always be aware of the tax rules that apply. Foreign income is defined as any income from outside England, Scotland, Wales and Northern Ireland. The Channel Islands and the Isle of Man are classed as foreign. Different rules may apply if you’re eligible for Foreign Income and Gains
More...The new Chancellor of the Exchequer, John Healey has confirmed, in a video message, that the next UK Budget will take place on Wednesday, 28 October 2026. Details of all the Budget announcements will be made on a special section of the GOV.UK website which will be updated following completion of the Chancellor’s first Budget speech in
More...If you pay for replacing or repairing small tools you need for your job, you may be able to claim tax relief from HMRC. Eligible tools include items such as scissors, small hand tools and electric drills that are essential for carrying out your work and are not provided by your employer. You may also be able to claim tax relief for the
More...After submitting your self-assessment return it is important to keep your records used to prepare the return. HMRC may ask to check your return, so it is important to keep the supporting documents and information used to complete your tax return. There are no specific rules on how records must be stored. You can keep them on paper,
More...The Employment Allowance can help eligible employers reduce their National Insurance costs by up to £10,500 each tax year. The allowance reduces an employer’s Class 1 National Insurance liability and is applied automatically through payroll once a valid claim has been made. Most businesses can claim, provided they do not carry out more
More...Protecting hard-won local customer networks is a constant and necessary battle for commercial suppliers. However, a recent High Court judgement has exposed the risks inherent in employing standard ‘boilerplate’ contracts to restrict departing sales staff. The dispute in focus was triggered when a national building supplies merchant sought
More...Artificial intelligence (AI) has dominated business headlines over the past year, with many suggesting it will transform the way companies operate. While there is no doubt that AI has enormous potential, recent research indicates that many small businesses have yet to experience significant commercial benefits. For some business owners,
More...Economic conditions remain uncertain and many business owners are understandably cautious about the months ahead. Although there are signs of improvement in some sectors, rising costs, changing customer demand and ongoing economic pressures mean that confidence remains fragile. When uncertainty increases, it is tempting to postpone
More...A Full Payment Submission (FPS) is a payroll report that employers must send to HMRC every time they pay employees. Using payroll software, employers use an FPS to report payments made, deductions from pay and National Insurance information, ensuring HMRC has an up-to-date record of their payroll obligations. This submission should
More...Your State Pension forecast can help you plan for retirement by showing how much State Pension you could be entitled to, when you can claim it and whether there are ways to increase your entitlement. The online forecast service https://www.gov.uk/check-state-pension allows you to check how much State Pension you could receive, when you
More...Most people are aware that cash donations to a charity can qualify for tax relief. However, it is less well known that gifts of land, property and qualifying shares can also provide valuable tax advantages. If you donate land, property or shares to a UK charity, or sell them to a charity for less than their market value, you may be
More...Receiving money from a family member can be a welcome source of financial support, but many people are unsure whether they need to pay tax on it. In most cases, the person receiving a gift does not pay Income Tax on money given by family. However, the gift could have Inheritance Tax implications for the person making the
More...Keeping your skills and knowledge up to date is important but the cost of professional training can add up. If you are self-employed some training costs may be claimed as allowable business expenses. Training costs can usually be claimed where the course helps you improve skills or knowledge that you already use in your business. This
More...With childcare costs continuing to rise, many working families could be missing out on valuable support through the Tax-Free Childcare scheme. The scheme helps eligible parents pay for registered childcare by providing a government top-up on their contributions. For every £8 paid into a childcare account, the government adds £2. Tax-Free
More...Late payments remains one of the biggest challenges facing small businesses across the UK. Even companies that are profitable on paper can find themselves under financial pressure if customers fail to pay their invoices on time. Recent reports suggest that thousands of smaller businesses continue to experience delayed payments, leaving
More...Employment costs continue to rise, and many small businesses are feeling the impact. Higher wage bills, increased employment related costs and the expense of recruiting and retaining skilled employees are causing many owners to think more carefully about their growth plans. Recent business surveys suggest that employment costs have
More...If you are starting to employ staff or engaging subcontractors for construction work, you will generally need to register as an employer with HMRC. This obligation extends even to individuals who are the sole director of their own limited company, in other words, you must register even if you are only employing yourself. It is important
More...As a self-employed individual, whether a sole trader or partner, you must keep accurate records of your business income and expenses to back up your self-assessment tax return. You should also keep your personal income details up to date. Nominated partners will also need to keep partnership records. You can also choose an accounting
More...If your personal details or circumstances change, you may need to tell HMRC as this could affect your tax position or entitlement to certain benefits. You should notify HMRC if you get married or form a civil partnership, or if you divorce, separate or stop living with your husband, wife or partner. You should report these changes as
More...It is important to know if HMRC is holding money that belongs to you. For example, if you have paid too much tax to HMRC, you may be able to claim a tax refund (also known as a tax rebate). Overpayments can happen for a number of reasons, including changes in your employment, paying tax using the wrong startegy or not claiming eligible
More...Small businesses have several VAT schemes available that can simplify VAT administration and may help with cash flow. However, as a business grows or its circumstances change, it is important to review whether the VAT scheme being used is still the best for your business. The main VAT special schemes available to small businesses are
More...If you are self-employed, you may be able to claim tax relief on certain business insurance costs as an allowable expense. This means the cost can be deducted when calculating your taxable profits, reducing the amount of tax you may need to pay. The insurance must relate to your business activities and be incurred wholly and exclusively
More...A recent ruling has cleared the path to uncapped financial compensation following a forced resignation. A longstanding social worker had complaints raised over her work by an interim service manager. The ensuing investigation, however, failed to inform her of the specific allegations, their source, or their scope. This covert enquiry had
More...Many employees and business owners have welcomed higher earnings over the past few years. However, for a growing number of taxpayers, a larger salary does not necessarily mean significantly more money in their pocket. The reason is a process known as fiscal drag. Although tax rates have remained broadly unchanged, personal tax
More...The Government has launched a consultation on proposals that could significantly change the way VAT is collected on goods sold through online marketplaces. Although the changes are not yet law, they could affect thousands of UK businesses that use online platforms to reach customers. The consultation forms part of HMRC's continuing
More...If your company makes a trading loss, it may be able to claim relief to reduce its Corporation Tax liability. Trading losses can often be used in different ways, depending on your company’s circumstances. A company may be able to use a trading loss against profits from the same accounting period, carry it back to reduce profits from an
More...Property owners often incur costs for repairs, and understanding which costs can be deducted is important when calculating taxable property income. You can generally claim tax relief for repairs carried out on a property business, provided the cost relates to restoring or maintaining the property rather than improving it. A deduction is
More...Married couples and civil partners are taxed separately for Capital Gains Tax (CGT), meaning each person has their own annual tax position. However, with careful planning, transferring assets between spouses or civil partners can sometimes help reduce their overall tax bill. Where spouses or civil partners are living together, most
More...If your business is VAT registered, you can usually reclaim VAT on many of the goods and services you buy for business purposes. However, many businesses fail to claim everything to which they are entitled and may be able to recover more VAT. You can normally reclaim VAT on business purchases through your VAT return, provided you hold
More...Not every hobby becomes a taxable business, but it is important to be aware when this can happen. This can apply even if you are making some money from your hobby. HMRC looks at a range of factors to decide whether an activity is a genuine trade, including whether there is a business intention behind it or whether it remains a personal
More...Businesses must register for VAT if their taxable turnover exceeds the VAT registration threshold, or if they expect it to exceed the threshold in certain circumstances. The VAT registration threshold is currently £90,000. The threshold applies to the value of taxable supplies made by a business. A business must register for VAT if
More...Artificial intelligence (AI) is no longer just for large organisations. Many small businesses are now using affordable AI tools to reduce administration, improve customer service and free up valuable time to focus on growing their business. The key is to use AI as a business assistant rather than a replacement for human judgement. One
More...Cyber-crime is no longer a problem faced only by large organisations. Small businesses are increasingly being targeted because criminals often assume they have fewer security measures in place. A successful cyber-attack can disrupt operations, damage customer confidence and result in significant financial losses. Many attacks begin with
More...If you are self-employed, claiming all of your allowable business expenses can reduce your taxable profit and, in turn, the amount of Income Tax you pay. Allowable expenses are costs that are incurred wholly and exclusively for the purposes of your business. Typical business expenses that can be claimed include office costs such as
More...If you have invested in a new commercial building or carried out significant renovation work, you may have overlooked a valuable capital allowance. The Structures and Buildings Allowance (SBA) provides tax relief on qualifying capital expenditure incurred on certain new non-residential structures and buildings. The SBA applies to
More...If you are selling shares or other investments, you may incur Capital Gains Tax (CGT) on any profit, or 'gain', you make. You will need to work out your gain to determine if you need to pay tax, which depends on whether your total gains exceed your CGT allowance for the tax year. You usually pay CGT on total gains above your annual
More...Most individuals can earn interest from their savings without incurring a tax liability thanks to a number of allowances available each tax year (from 6 April to 5 April). These include your Personal Allowance, the starting rate for savings, and the Personal Savings Allowance, with the amount you receive depending on your other
More...Providing benefits and covering expenses for employees is a common part of running a business, but it is important to understand the tax implications. A benefit that appears simple or low value could create unexpected reporting obligations or result in additional tax and National Insurance liabilities if it is not treated
More...If you are already registered for Making Tax Digital (MTD) for Income Tax, it is important to ensure you are ready for your first quarterly update deadline. Unlike a traditional self-assessment return, MTD requires you to keep digital records and submit regular updates to HMRC throughout the year. Your MTD software will use your digital
More...The volatile boundary between workplace speech, belief, and discrimination was recently ignited in a case that tested the sanctity of protected beliefs. The dispute began when a British emergency ambulance crew member was subjected to internal disciplinary proceedings after using an inappropriate word during a heated confrontation with a
More...1 August 2026 - Due date for Corporation Tax due for the year ended 31 October 2025. 19 August 2026 - PAYE and NIC deductions due for the month ended 5 August 2026. (If you pay electronically, the due date is 22 August 2026.) 19 August 2026 - Filing deadline for the CIS300 monthly return for the month ended 5 August 2026. 19 August
More...Most company directors are aware that they must file annual accounts and a confirmation statement with Companies House. However, missing these deadlines can lead to unnecessary costs and, in some cases, much more serious consequences. The most common financial penalties apply to the late filing of annual accounts. For a private company,
More...Many business owners regularly monitor their bank balance, sales and cash flow, but overlook another important financial indicator, their credit rating. Whether you are applying for finance, negotiating with suppliers or seeking new business opportunities, your credit score can influence how others view your financial reliability. In the
More...The term permanent establishment (PE) is an important tax concept for businesses that operate across international borders. In simple terms, it determines whether a business has created a sufficient presence in another country for its profits to be taxed there. The concept is used by HMRC to determine if a non-UK resident company has
More...Employers are reminded that Class 1A National Insurance contributions (NICs) for the 2025-26 tax year must be paid by 19 July 2026 (or 22 July 2026 if paying electronically) to avoid penalties. These payments relate to the benefits in kind provided to employees and directors, and on Class 1A NICs on benefits, termination payments and
More...The Construction Industry Scheme (CIS) is used within the UK construction sector to help manage payments between contractors and subcontractors effectively. This scheme mandates that contractors deduct a portion of payments made to subcontractors, remitting these funds directly to HMRC. These deductions function as advance payments
More...Carried interest is essentially a share of the profits from an investment fund that is paid to the fund managers. Unlike a fixed fee, its value depends directly on the fund's performance. This type of payment is considered carried interest if it is a profit-related return and meets a specific "no significant risk" condition. A
More...A ‘60% Income Tax band’ can arises when an individual’s income exceeds £100,000 in a tax year. Once this threshold is crossed, the personal allowance is gradually withdrawn at a rate of £1 for every £2 of adjusted net income above £100,000. As a result, the £12,570 tax-free allowance is fully removed once income reaches £125,140. Where
More...The High Income Child Benefit Charge (HICBC) applies where an individual or their partner receives Child Benefit, and their adjusted net income currently exceeds £60,000. The charge may also apply where another person claims Child Benefit for a child living with you and contributes at least an equal amount towards the child’s upkeep,
More...Winning new customers is important, but many businesses overlook the value of keeping the customers they already have. Existing customers are often more likely to buy again, recommend your business to others and spend more over time. Improving customer retention can therefore have a significant impact on profitability without increasing
More...Many successful businesses begin by working closely with one major customer. While this can provide valuable income and stability in the early years, becoming too dependent on a single customer can create significant risks if circumstances change. If one customer accounts for a large proportion of your turnover, the loss of that business
More...The Investment Manager Exemption (IME) is a long-standing HMRC concession that helps attract international investment in the UK. It allows overseas investors to appoint UK-based investment managers without automatically creating a UK tax liability for the investor. Without the exemption, there is a risk that investment activities carried
More...Employees may be entitled to tax relief on certain professional fees and subscriptions that they pay personally. The relief is available where membership of a professional body is required for an individual to carry out their duties, or where annual subscriptions are paid to an HMRC-approved professional organisation or learned society
More...Understanding dividend tax is important for anyone who receives income from shares in a company. Dividends are taxed differently from salary, pensions and other forms of income, with their own allowances and tax rates. For the 2026-27 tax year, individuals do not pay tax on dividend income that falls within their Personal Allowance of
More...When employers provide mobile phones to employees, it is important to understand the tax treatment that applies to both the device and any related costs. The rules also differ where employers reimburse employees for their personal mobile phone expenses. HMRC provides a specific exemption where an employer supplies one mobile phone (or
More...Employees may receive a taxable benefit where an employer provides a loan that is interest-free or charged at a rate below HMRC’s official interest rate (currently 3.75%). The benefit arises from the difference between any interest actually paid by the employee and the interest that would have been charged by a commercial lender. These
More...There is no requirement to report certain travel and subsistence expenses where an exemption applies. The travel and subsistence benefits that do not need to be reported include reimbursed costs to employees covering business travel. Subsistence includes meals and any other necessary costs of travelling, for example parking charges,
More...Getting paid on time remains one of the biggest challenges facing many small and medium-sized businesses. Late payments can place pressure on cash flow, increase borrowing requirements and divert valuable management time away from running and growing the business. Against this backdrop, Fair Payment Code accreditation is becoming an
More...Companies House is entering a new era of enforcement as it begins making greater use of the powers granted under the Economic Crime and Corporate Transparency Act. The aim is to improve the accuracy of the Companies House register, strengthen confidence in UK businesses and help tackle economic crime. For many years, Companies House
More...Members of a Limited Liability Partnership (LLP) are normally treated as self-employed for tax purposes. However, special rules can apply where a member's terms of membership are more akin to the terms of an employee than a partner in a traditional partnership. These are known as salaried members. The legislation applies a three-part
More...Your tax code tells your employer or pension provider how much Income Tax to deduct from your pay. It is set by HMRC, and you may have a different code for each job or pension. Most people with one job (or pension) use the code 1257L, which reflects the standard Personal Allowance of £12,570. The numbers show how much tax-free income you
More...When you donate money to a charity or Community Amateur Sports Club (CASC) under Gift Aid, the organisation can claim an extra 25p from HMRC for every £1 you give. This increases the value of your donation at no extra cost to you. If you pay higher or additional rate tax, you can also claim further tax relief on your donation. This is
More...The range of benefits that can be provided tax-free by an employer is relatively limited, but there are several common exemptions that apply where certain conditions are met. Meals provided in a staff canteen can be exempt where they are offered to all employees on a reasonable scale and are not seen as excessively lavish. This exemption
More...Your National Insurance record can be checked online to see what contributions and credits you have built up and whether you have any gaps that may affect your State Pension. The record shows how much National Insurance you have paid up to the start of the current tax year, as well as any National Insurance credits you have received. It
More...Capital Gains Tax (CGT) is a tax on the profit you make when you sell or dispose of an asset that has increased in value. It is the gain itself that is taxed, not the total amount you receive. For example, if you buy shares for £3,000 and sell them for £8,000, the taxable gain is £5,000. CGT typically applies when you dispose of shares
More...Equal pay claims can grind on for years before resolution. However, the ground has shifted since the Court of Appeal (CoA) took Tesco’s own operating and training manual as the definitive source on employee roles rather than any granular analysis of their activity. This claim began in 2018 when almost 60,000 Tesco store workers,
More...The Government has confirmed that important changes to Companies House filing requirements will now take effect from April 2028 (rather than April 2027), giving small companies and micro-entities additional time to prepare for the new rules. One of the most significant changes is the requirement for small companies and micro-entities to
More...Many small business owners assume that exporting is something reserved for larger companies with dedicated sales teams and substantial resources. In reality, advances in technology, online marketplaces and international logistics have made overseas markets more accessible than ever, creating opportunities for businesses of all
More...UK residents are generally liable to Capital Gains Tax (CGT) when they dispose of overseas property at a gain. A disposal includes selling, gifting, or otherwise transferring ownership of a property located outside the UK. CGT is chargeable on the profit made on the disposal at 18% for basic rate taxpayers and 24% for higher and
More...Many people are unaware that gaps in their National Insurance (NI) record can affect their entitlement to the State Pension and certain state benefits. In some cases, it may be worthwhile to consider making voluntary NI contributions to fill these gaps. Gaps can arise for a number of reasons, including periods of low earnings,
More...Research and Development (R&D) tax relief is designed to support companies that invest in innovation and seek to make advances in science or technology. The scheme offers businesses the ability to invest in new technologies and scientific development in exchange for generous tax reliefs. However, not every project will qualify, and
More...If you are required to complete a self-assessment tax return, HMRC may charge penalties if you miss the deadline for making a filing or payment. There are also penalties if you fail to register on time for self-assessment. If you register late and do not pay your tax bill by the required deadline, you may receive a ‘failure to notify’
More...The Annual Tax on Enveloped Dwellings (ATED) is a charge that applies to certain high-value residential properties held by non-natural persons (NNPs). It is designed to ensure that residential properties held through corporate or similar structures are subject to an annual tax charge where their value exceeds a set threshold. ATED is
More...Making Tax Digital (MTD) for Income Tax is being rolled out in stages for sole traders and landlords who complete self-assessment returns. Liability to register depends on the level of “qualifying income”, which includes income from self-employment and property. Since April 2026, those with qualifying income over £50,000 have
More...1 July 2026 - Due date for corporation tax due for the year ended 30 September 2025. 6 July 2026 - Complete and submit forms P11D return of benefits and expenses and P11D(b) return of Class 1A NICs for 2025-26. 19 July 2026 - Pay Class 1A NICs for 2025-26 (by the 22 July 2026 if paid electronically). 19 July 2026 - PAYE and NIC
More...Major changes are continuing at Companies House as part of the government's efforts to improve corporate transparency and tackle economic crime. One of the most significant developments is the introduction of compulsory identity verification for company directors and Persons with Significant Control (PSCs). The transition period is now
More...The government continues to place growing emphasis on supporting smaller businesses through its “Backing Your Business” programme, which is designed to encourage growth, investment and long term resilience across the UK business sector. The programme brings together a range of initiatives aimed at helping businesses deal with
More...Many married couples and civil partners could be missing out on valuable tax savings available by claiming the Marriage Allowance. If your circumstances are suitable, this is a reminder to consider the Marriage Allowance, as a simple claim could reduce your tax bill by up to £252 during the 2026-27 tax year. The Marriage Allowance allows
More...Pensions remain one of the most tax-efficient ways to save for retirement, due to a range of tax reliefs and allowances that can help boost retirement savings. One of the key advantages of private pension contributions is the availability of tax relief on pension contributions. Individuals can usually receive tax relief on pension
More...Families claiming Child Benefit should be aware of the High Income Child Benefit Charge (HICBC), which can apply when one member of the household has a higher income. The charge applies where an individual has adjusted net income of more than £60,000 in a tax year and either they or their partner receives a Child Benefit payment. The
More...If you are self-employed, claiming all of your allowable business expenses can significantly reduce your tax bill. For example, if your business turnover is £40,000 and you have £10,000 of allowable expenses, you will only pay tax on your taxable profit of £30,000. However, personal spending and money withdrawn from the business for
More...A reminder that the tax rules for how online platforms report seller information to HMRC changed on 1 January 2024. Digital platforms such as eBay, Vinted and Airbnb are required to collect and verify certain details about users who sell goods or provide services through their sites. This data is shared with HMRC. In general, platforms
More...If you receive income from renting out property, it is important to understand your tax obligations and the reliefs that may be available. Rental income is generally taxable, although landlords can deduct certain allowable expenses before calculating the amount of tax due. For individuals, who personally own rental property, the first
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