News

When can you deregister for VAT?

Considering VAT deregistration? Whether compulsory or voluntary, knowing the rules, deadlines and risks of delay can save your business from ...
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The transition from FHL to Property Rental business

Tax perks for Furnished Holiday Lets have ended. From April 2025, lettings fall under standard rental rules. Check the transition ...
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Deadline for paying Class 1A NIC

Employers must pay Class 1A NICs on 2024–25 benefits by 19 July (22 July if paying electronically). Avoid penalties by ...
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HMRC interest rates following Bank of England rate cut

Following a Bank Rate cut to 4.25%, HMRC late payment and repayment interest rates will drop from 19 and 28 ...
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MTD for Income Tax deadline is approaching

MTD for Income Tax starts 6 April 2026 for the self-employed and landlords with £50k+ income. Plan early to stay ...
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Save up to £2,000 a year on childcare costs

Is your child starting school this September? Tax-Free Childcare could save you up to £2,000 a year. Check your eligibility ...
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Why filing early makes sense

Filing your 2024-25 Self-Assessment return early means faster refunds, better budgeting, and no deadline stress. Do not delay, start gathering ...
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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, ...
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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 ...
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Electronic invoicing consultation

The government wants your say on e-invoicing. Quicker payments, fewer errors, and better VAT reporting are on the table. A ...
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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 ...
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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 ...
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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 ...
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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, ...
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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 ...
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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 ...
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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 ...
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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 ...
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