With so many online accounts now in daily use, including banking, shopping, email and HMRC services, password security has never been more important. A weak or reused password can lead to fraud, identity theft, or unauthorised access to personal and business information. A good first step is to use strong, unique passwords for every
More...Not every UK limited company needs a statutory audit. Many smaller companies qualify for audit exemption, but it is important to understand the rules, as an audit may still be required in certain situations. For financial years starting on or after 6 April 2025, a company is generally audit exempt if it qualifies as a small company and
More...If your business has transitional profits from basis period reform, spreading over five years may reduce the cash flow impact, but it is important to understand the deadlines. The self-employed basis period reform has changed the way trading income is allocated to tax years. Under these reforms, the basis of assessment moved from a
More...With the balancing payment and first payment on account both due on 31 January 2026, it is worth checking your options early if funds are tight. The final balancing payment for the 2024-25 tax year is due by 31 January 2026, which is also the deadline for filing your self-assessment tax return. This payment will settle any remaining tax
More...CGT on certain UK residential property sales often has a strict 60-day reporting and payment deadline, so early planning can avoid penalties. If you are selling a second property, such as a buy-to-let or a former home that is no longer your main residence, CGT will usually apply. This is different from selling your main home, which is
More...If one partner earns under £12,570, you could transfer part of their unused personal allowance and cut your tax bill by up to £252 a year. The Marriage Allowance applies to married couples and civil partners where one partner does not pay Income Tax, usually because their income is below the personal allowance. For the 2025-26 tax year,
More...There are a number of annual payroll reporting issues that employers are required to complete. With the tax year ending on 5 April 2026, this means there are several key payroll reporting chores that will need to be considered over the coming months. One of the main requirements is submitting a final PAYE return for the tax year. The
More...If your company profits sit between £50,000 and £250,000, marginal relief can soften the jump from 19% to 25% Corporation Tax. The Corporation Tax main rate applies to companies with taxable profits above £250,000 and is currently set at 25%. Companies with profits of up to £50,000 are subject to the Small Profits Rate, which remains at
More...The Chancellor, Rachel Reeves has confirmed that she will deliver the Spring Statement to the House of Commons on Tuesday, 3 March 2026. The Spring Statement is used to give an update on the state of the economy and will respond to the economic and fiscal forecast published by the Office for Budget Responsibility (OBR). The Spring
More...The High Court recently ruled on the interpretation and enforceability of "discretionary" bonus provisions in employment contracts. Mr. Gagliardi brought a breach of employment contract claim against a former hedge fund which had contracted him as a senior portfolio manager. The contract in question included a salary, a sign-on payment, a
More...When a small business applies for a bank loan, the bank is mainly trying to answer one question, “How likely is it that we will be repaid, on time and in full?” To reach that decision, they will review a mix of financial evidence, trading performance and the overall risk profile of the business. A key factor is affordability.
More...A person’s credit rating (often referred to as a credit score) is a measure used by lenders to assess how reliably someone manages borrowing and financial commitments. It can affect whether credit is offered at all, the interest rate charged and even the size of deposit required for certain products. Although each lender uses its own
More...1 February 2026 - Due date for Corporation Tax payable for the year ended 30 April 2025.19 February 2026 - PAYE and NIC deductions due for month ended 5 February 2026. (If you pay your tax electronically the due date is 22 February 2026)19 February 2026 - Filing deadline for the CIS300 monthly return for the month ended 5 February 2026.19
More...From April 2026, Making Tax Digital for Income Tax (MTD for IT) will become mandatory for many self-employed persons and landlords, marking a significant change in how they manage their tax affairs. The new regime is designed to modernise the tax system by requiring taxpayers to interact with HMRC through an online tax account, rather
More...If your business is planning a major UK investment, HMRC’s new advance tax certainty service could give you binding clarity on the tax position before you commit. HMRC has recently published draft guidance on the new advance tax certainty service as part of the government’s Corporate Tax Roadmap at the Autumn Budget 2024, where the
More...If your business works in film, TV, games or the arts, Creative Industry Tax Reliefs could reduce your Corporation Tax bill and may even generate a payable tax credit. Creative Industry Tax Reliefs (CITR) are a range of UK Corporation Tax reliefs designed to support companies operating in the creative sector. The reliefs allow qualifying
More...If you are self-employed, knowing which everyday costs you can legitimately claim can make a real difference to how much tax you end up paying. The question of which costs you can claim against your self-employed business is a common one. If you are self-employed it is important to be aware if an expense is allowable or not. Any
More...Starting a new business can be expensive, but many of your pre-trading costs may qualify for tax relief if they meet the right conditions. There are special tax reliefs for pre-trading expenses that are incurred before a business starts trading. This could include expenses that are required to help a business prepare for trading such as
More...Did you know you can monitor any UK company for free and get email alerts when key details change, which can help protect your own business from unexpected or unauthorised filings? A significant amount of information about companies is available in the public domain from Companies House. Companies House is responsible for incorporating
More...The Insolvency Service data for England and Wales shows monthly company insolvencies remain high by historical standards, even though they move up and down month to month. For example, November 2025 recorded 1,866 registered company insolvencies, down on October 2025 and also below the same month a year earlier. The wider context matters,
More...Pre-tax year end planning is one of the most practical and controllable ways for UK businesses and higher rate taxpayers to reduce unnecessary tax exposure. Unlike long term restructuring, it focuses on decisions that can still be influenced before 5 April or, for companies, before the accounting year end. When done properly, it is not
More...The trivial benefits legislation provides a simple and practical tax exemption that allows employers to give small non-cash benefits to employees without triggering tax or National Insurance charges. To qualify as a trivial benefit, the cost to the employer must not exceed £50 per item. The benefit must not be cash or a cash voucher and
More...The new 40% First Year Allowance (FYA) for qualifying main-rate plant and machinery expenditure first announced at Autumn Budget 2025 has now come into force. Effective from 1 January 2026, the new FYA applies to qualifying main-rate plant and machinery expenditure. It was also announced at the recent Autumn Budget 2025 that the main
More...The government recently announced significant changes to the planned reforms to Agricultural Property Relief (APR) and Business Property Relief (BPR). The threshold for 100% relief will be increased from £1 million to £2.5 million when the changes take effect from 6 April 2026. The change will be introduced via an amendment to the Finance
More...HMRC’s figures show thousands of taxpayers are filing over the festive period, but leaving your return until late January risks penalties, stress and avoidable payment problems. A new press release by HMRC has highlighted that 4,606 taxpayers took the time to file their tax return online on Christmas Day with a further 10,479 taxpayers
More...While company cars often come with tax implications, there are specific situations where the associated benefits may be exempt. There are circumstances where it can be possible to offer employees car benefits that are exempt from tax. Exempt expenses and benefits include the following: Business-only use: This rule has been the subject
More...Providing the right information when you start a new job helps ensure your tax code is correct from the first pay day and avoids the risk of paying too much tax. When starting a new job or taking on additional employment, your new employer will usually send your income details to HMRC, which are used to calculate your tax code. If this
More...Verifying a VAT number before reclaiming VAT can protect your business from rejected claims, repayments, and unnecessary penalties.The online service for checking a UK VAT number is available at www.gov.uk/check-uk-vat-number. This online tool allows businesses and individuals to verify the legitimacy of a UK VAT registration number,
More...The Court of Appeal has ruled that the initiation of legal or arbitral proceedings by an employer against a ‘whistleblower’ who has made a protected disclosure constitutes an actionable detriment under the Employment Rights Act (ERA) 1996, effectively overriding the defence of Judicial Proceedings Immunity, or JPI. In November 2021, the
More...Making mistakes in business is unavoidable. No matter how experienced or careful someone is, decisions are made with imperfect information, time pressure and changing conditions. What separates resilient businesses from those that struggle is not the absence of mistakes, but the ability to learn from them and adapt. The first step is
More...For many individuals and business owners, paying tax is one of the largest regular financial commitments they face. Yet tax bills often arrive as a shock, not because the amounts are unexpected, but because the funds have not been set aside in advance. Developing a disciplined approach to saving for tax can remove stress, protect cash
More...The Bank of England’s Monetary Policy Committee (MPC) last met on 18 December and, in a narrow 5-4 vote, decided to reduce the interest rate by 25 basis points, bringing it down to 3.75%. All four dissenting members voted to keep the rate at 4%. This marks the sixth interest rate reduction since August 2024. Inflation continues to fall,
More...Are you ready for Making Tax Digital for Income Tax (MTD for IT)? This new way of reporting will become mandatory in phases from April 2026. If you are self-employed or a landlord earning over £50,000, now is the time to prepare for digital record keeping, quarterly updates and the new penalty system that will apply under MTD for IT. The
More...As we move into the start of 2026, it is not that long until the current 2025-26 tax year comes to an end and there are a number of payroll annual reporting obligations that must be completed. This includes sending a final PAYE submission for the tax year. The final Full Payment Submission (FPS) needs to be submitted on or before your
More...For eligible businesses, the VAT Annual Accounting Scheme can reduce paperwork, smooth cash flow and replace quarterly returns with a single annual submission. The VAT Annual Accounting Scheme is open to most businesses with a taxable turnover of up to £1.35 million per year. Businesses using the scheme are required to submit one VAT
More...Owning more than one home can create valuable Capital Gains Tax planning opportunities, but only if you understand how and when to nominate a property for Private Residence Relief. Typically, you do not have to pay Capital Gains Tax (CGT) when you sell a property that has been your main family home. In contrast, properties that have only
More...Employees with company cars may be paying unnecessary tax on private fuel, when reimbursing the cost of private fuel in full can often remove the car fuel benefit charge altogether. Where an employee is provided with a company car and fuel for private use, the default position is that the employee must pay the car fuel benefit charge.
More...With the 31 January deadline approaching, thousands of taxpayers are using HMRC’s Time to Pay service to spread the cost of their self-assessment tax bill rather than facing immediate payment pressure. HMRC has reported that thousands of people have set up payment plans to help spread the cost of their self-assessment tax bill. Taxpayers
More...As part of the Budget measures, the government confirmed plans to make some changes to the Construction Industry Scheme (CIS). From 6 April 2026, HMRC will be able to take immediate action where a business makes or receives a payment that it knew, or should have known, was connected to fraud. In these circumstances, HMRC will have the
More...An extension of First-Year Allowances (FYA) for zero-emission cars and charge points was announced as part of the recent Budget measures. This means that the 100% FYA for qualifying expenditure on zero-emission cars, and electric vehicle (EV) charge points will now be available until 31 March 2027 for Corporation Tax purposes, and until
More...If you live abroad and sell your UK home, you may have to pay Capital Gains Tax (CGT) on any gain made since 5 April 2015. Only the portion of the gain made after 5 April 2015 is liable for tax. One of the most commonly used and valuable exemptions from CGT is Private Residence Relief (PRR), which applies when a property has been used as
More...Writing-down allowances (WDAs) are a type of capital allowance that let you deduct a percentage of an asset’s value from your taxable profits each year. In some cases, you may be able to claim more relief using other capital allowances, such as the Annual Investment Allowance or first-year allowances. There are two rates of WDA for plant
More...Students that work may need to pay Income Tax and National Insurance. Employers are required to calculate the amount of tax they need to pay on the basis that the students would be working for the rest of the tax year. This means that an overpayment of income tax can often occur when a student or temporary worker earns more than their
More...As an employee, you pay tax on certain company benefits, such as cars, accommodation, and loans. Your employer calculates the tax you owe and deducts it through Pay As You Earn (PAYE). The amount of tax depends on the type and value of the benefit. Some company benefits are tax-free, including childcare support and meals provided in
More...A recent ruling has increased the scope of statutory protection for whistleblowers to include covered detriments against co-workers under the Employment Rights Act 1996. A Mr. Rice was dismissed by his company owner on the grounds of redundancy in February 2021. Mr. Rice asserted that his dismissal was automatically unfair, given that it
More...1 January 2026 - Due date for Corporation Tax due for the year ended 31 March 202519 January 2026 - PAYE and NIC deductions due for month ended 5 January 2026. (If you pay your tax electronically the due date is 22 January 2026).19 January 2026 - Filing deadline for the CIS300 monthly return for the month ended 5 January 2026.19 January
More...Cash flow remains one of the most pressing concerns for small businesses, even where trading appears stable. Many businesses are finding that rising costs, cautious lenders and slower customer payments are combining to create ongoing pressure on day to day finances. In our experience, cash flow issues rarely arise from a single event.
More...Acquiring new assets is often essential for small businesses looking to grow, improve efficiency or remain competitive. Whether the investment is in vehicles, machinery, IT systems or specialist equipment, choosing the right funding method can have a significant impact on cash flow, tax efficiency and overall financial resilience.
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