News

What is a salary sacrifice?

A salary sacrifice scheme lets employees swap cash salary for non-cash benefits, saving tax and National Insurance. But earnings must ...
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VAT and the goods you use in your own business

Using business goods instead of selling them is usually VAT-free, but some cases require VAT payments. These "taxable self-supplies" include ...
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Inheriting spouse’s State Pension

If your spouse or civil partner has passed away, you may inherit part of their State Pension, depending on when ...
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Letting out part of your home – claiming lettings relief

Renting out part of your home may affect Capital Gains Tax when you sell. While Private Residence Relief applies, Letting ...
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More tax on business disposals from April 25

From April 2025, the Capital Gains Tax rate on Business Asset Disposal Relief rises from 10% to 14%, increasing to ...
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Making a negligible value claim with HMRC

A negligible value claim lets taxpayers declare an asset worthless for tax purposes, realising a capital loss without selling. This ...
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Essential Credit Control for SMEs

A well-structured credit control system is crucial for small businesses to maintain cash flow and reduce the risk of bad ...
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Sources of funding for small businesses

Starting or growing a small business often requires capital, but securing the right funding can be a challenge. Fortunately, there ...
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Hear from Outbooks

At Outbooks, we specialise in providing outsourcing solutions for accounting and bookkeeping firms. Since our inception in 2011, we've proudly ...
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Tax relief for structures and buildings expenditure

Maximise your tax relief with the Structures and Buildings Allowances (SBA). If you have invested in new or renovated commercial ...
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Treatment of post-cessation receipts and payments

When a trade ends, income doesn’t always stop. Post-cessation receipts can still arise, and knowing how they are taxed is ...
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How far back can HMRC assess under-declared taxes?

From income tax to VAT, HMRC has specific time limits for issuing tax assessments. Depending on the circumstances—whether it’s standard, ...
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UK residence and tax issues

The UK's shift to the Foreign Income and Gains (FIG) regime from April 2025 changes how foreign income is taxed ...
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What’s included in your VAT return

With a £90,000 VAT registration threshold, many UK businesses might wonder whether to register voluntarily. Understanding how to balance output ...
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Tax-free redundancy payments

If redundancy strikes, you could receive up to £30,000 tax-free. Whether it’s statutory or a more generous employer offer, understanding ...
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The benefits of benchmarking financial results

Benchmarking financial results involves comparing a business’s financial performance against industry standards or competitors. This process offers numerous benefits, helping ...
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Women in leadership roles

The UK is making significant strides in promoting gender equality within its top companies. According to the latest FTSE Women ...
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Self-employment cannot be used as a tax smokescreen for contracted employees

A complex celebrity case arose recently in which the First-tier Tax Tribunal (FTT) was asked to consider the application of ...
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