Accountancy & Business Blog
Earn extra income? HMRC urges you to file your tax return early
If you have made more than £1,000 from a side hustle last year, you might need to tell HM Revenue & Customs (HMRC), and the earlier you do it,...
Software-only filing and more disclosures – Major changes for small companies
If you run a limited company, it is important to be aware of some major changes coming to the way company accounts are filed. These changes are part...
Two sides of the tax story – National Insurance up, Capital Gains Tax down
The latest tax data for the first months of the 2025/26 tax year shows mixed trends. Employers’ National Insurance contributions (NICs) are sharply...
With Tax Freedom Day now in mid-June, are business owners paying more than their fair share?
For many business owners, the phrase Tax Freedom Day may sound abstract, but it is a concept that is becoming increasingly relevant. This year, Tax...
Directors and the minimum wage – The compliance risks you may be overlooking
Since 1 April 2025, new National Minimum Wage (NMW) and National Living Wage (NLW) rates have applied across the UK, bringing substantial increases...
Class 2 NICs – The hidden issue affecting self-employed taxpayers
Recent changes to Class 2 National Insurance contributions (NICs) were meant to simplify things for self-employed taxpayers. Instead, some are...
HMRC or a scam – can you trust the letters you receive?
There are always going to be bad actors looking to scam reputable businesses out of money and data. The new changes to Companies House and the...
Investors’ Relief under pressure – Why HMRC is tightening its approach
HM Revenue & Customs (HMRC) is writing to taxpayers who claimed Investors’ Relief on their 2023/24 Income Tax Self-Assessment returns but may...
The Bank’s latest rate cut is here, what now for your business?
The Bank of England (BOE) has cut the base interest rate to 4.25 per cent, down from 4.5 per cent. It is the fourth cut in the past 12 months, and...
How to claim a Self-Assessment tax refund during the HMRC phone line pause
HM Revenue & Customs (HMRC) has recently temporarily suspended telephone and webchat services for Self-Assessment repayment requests. This...
Right to work checks – Financial risks and compliance steps for business owners
Right to work checks form an important part of business risk management, particularly now that the Government has increased the financial penalties...
An overview of filing and payment penalties for businesses
Across the major taxes, HM Revenue & Customs (HMRC) issues penalties when tax is not filed or paid on time. The specific rules vary by tax type,...
Time is running out to respond to the open consultation on reforms to APR and BPR
The Autumn Budget announced significant changes to reduce Agricultural Property Relief (APR) and Business Property Relief (BPR) under Inheritance...
Why Trump’s tariffs could have more of an impact on your finances than you realise
As global stock markets reel in response to US President Donald Trump’s sweeping new tariffs, many UK businesses may assume this is a crisis...
Major changes ahead for directors of close companies – New dividend reporting rules from April 2025
From 6 April 2025, directors of close companies will face a notable change in how they report dividend income on their Self-Assessment tax returns....
Spring Statement 2025
Chancellor Rachel Reeves today delivered her Spring Statement, outlining the Labour Government’s economic priorities and reaffirming a commitment to...
Major changes to Inheritance Tax from April – How new residence rules and the end of non-dom status could affect your estate
Major reforms to the UK’s Inheritance Tax (IHT) regime are on the horizon, with sweeping changes, particularly affecting non-domiciled individuals...
How neonatal care leave will affect your payroll and policies
From 6 April 2025, employers will need to accommodate a brand-new statutory entitlement: neonatal care leave and pay. Introduced under the Neonatal...
Road tax changes for electric vehicles – How to secure an extra 12 months tax-free
If you own an electric or low-emission vehicle, you have likely enjoyed the benefit of paying zero road tax. However, from 1 April 2025, all...
HMRC sends letters as next phase of MTD edges closer
From April 2026, the way you report your income tax will change. HM Revenue & Customs (HMRC) is introducing Making Tax Digital (MTD) for Income...
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