Month: September 2025

Budget date announced

The Chancellor of the Exchequer, Rachel Reeves has confirmed, in a video message, that the next UK Budget will take place on Wednesday, 26 November 2025.

Details of all the Budget announcements will be made on a special section of the GOV.UK website

How to pay corporation tax online

Paying Corporation Tax? Always use the correct reference or risk delays and penalties.

To pay Corporation Tax via online or telephone bank transfer, you can use either a UK or overseas bank account.

UK Bank Accounts

You can transfer funds using

When you cannot charge VAT

Not all goods and services carry a 20% VAT, knowing the right rate can save costly mistakes.

When a VAT-registered business issues an invoice to their customer, they must ensure that they charge the correct rate of VAT. Whilst most businesses in the

Using your own car for work purposes

Using your own car or bike for work travel? You may be able to claim tax relief for business mileage.

If you are employed and spend your own money on items needed for your job, you may be eligible to claim tax relief on those expenses. However, you

16 years old – the minimum age for a company director

Thinking of starting a company at 16? Know the rules, risks and responsibilities before you take the leap.

The Companies Act 2006 does not set a minimum age for shareholders, meaning even minors can hold shares unless a company’s articles of

What is the settlement legislation?

Thinking of gifting income to a spouse or partner? HMRC’s settlements rules may still tax it as your own.

The settlements legislation is contained in s.624 ITTOIA 2005. The legislation seeks to ensure that where a settlor has retained an interest in

How do HMRC define “wholly and exclusively” for tax purposes

Not sure if a business cost is deductible? HMRC’s ‘wholly and exclusively’ rule is the key test.

When deciding whether an expense is deductible or not it is important to bear in mind that the expenditure must be incurred wholly and exclusively for

Tax Diary October/November 2025

1 October 2025 – Due date for Corporation Tax due for the year ended 31 December 2024.

19 October 2025 – PAYE and NIC deductions due for month ended 5 October 2025. (If you pay your tax electronically the due date is 22 October 2025.)

19 October

What insurance cover should a company consider?

Running a small business comes with plenty to juggle, and while insurance might not be the most thrilling task, it is absolutely essential. There is one policy you are legally required to have: employers’ liability insurance (EL). If you employ

GOV.UK One Login – enhanced security from 13 Oct 2025

From 13 October 2025, access to Companies House WebFiling will require GOV.UK One Login. This replaces the older Government Gateway sign-in and is part of the wider move towards a single, more secure login across government services.

When you next