Month: September 2025

Bank deposit protection limits set to rise

The UK’s financial regulator has proposed an increase to the level of savings protection available under the Financial Services Compensation Scheme (FSCS). If approved, the changes would take effect from 1 December 2025 and will be welcome news for

Five goals every small business owner should set

Running a small business can feel like juggling endless priorities, but taking time to set clear goals is essential if you want your business to grow and remain sustainable. Here are five goals that every owner should consider.

1. Strengthen cash

Sharing income from jointly held property

The standard tax treatment for couples living together, whether married or in a civil partnership, is that income from jointly held property is split equally (50:50) between them, regardless of their actual ownership shares.

However, if the

Two important 2025 self-assessment deadlines

Paper tax returns are due 31 October 2025, and new registrants must notify HMRC by 5 October 2025. Act early to avoid penalties.

Firstly, the deadline for submitting paper self-assessment tax returns is 31 October 2025. If you miss this deadline a

Are casual payments taxable?

Not all casual payments are tax-free; HMRC’s miscellaneous income rules may apply depending on the circumstances.

The special miscellaneous income rules sweep-up provisions that seek to charge tax on certain income. This unusual provision, which is

Tax-free income from letting a room in your home

Homeowners can earn up to £7,500 tax-free under the rent-a-room scheme, with simple reporting and flexible tax options.

This set of special rules is designed to encourage individuals to make use of spare space in their property by providing a tax

Exception from VAT registration

Businesses over £90,000 turnover must register for VAT, but HMRC may grant exceptions if the increase is temporary.

A business must register for VAT if either of the following applies:

At the end of any month, its taxable turnover in the previous

VAT – Entertainment provided to directors and partners of a business

When considering VAT on entertainment provided solely to directors or partners of a business it is generally not recoverable as VAT Input Tax.

HMRC considers that directors and partners are not in need of entertainment to motivate themselves, so

What is the recent £150bn tech investment deal?

During the State Visit by President Trump, the UK secured a record-breaking £150 billion of inward investment from US firms. The package is intended to boost jobs, support growth, and advance the UK’s key industrial sectors, especially life sciences,

Choosing the right way to buy a vehicle for your business

For many business owners, a vehicle is an essential tool. Whether it is for visiting clients, delivering goods, or simply keeping things moving, choosing how to finance a vehicle can have a big impact on cash flow and tax planning. There are several