Tax Advisory and Planning

Current Income Tax Rates and Allowances For the tax year 2025/26, most taxpayers in England, Wales and Northern Ireland benefit from a personal allowance of £12,570. Anything earnt above this...

For many businesses, a partnership, such an LLP, offers flexibility that a company structure does not. As businesses grow, owners often want greater freedom around profit sharing, tax planning, and...

What’s Happening More than ever, law firms are now operating through limited companies. SRA statistics show that, as of late 2025, around 58% of regulated law firms are incorporated companies,...

From the 2025/26 tax year, directors of close companies and self-employed taxpayers will have to provide more information in their Self Assessment tax returns than in previous years. These changes...

From April 2026, the way many individuals report income to HMRC will change significantly. If you earn income from self-employment or property, this is a change in how your financial...

There are several reasons why you might need to file a self-assessment tax return. This could apply if you are self-employed, a company director, have an annual income over £150,000,...

The Annual Investment Allowance (AIA) is a generous tax relief that allows for the total amount of qualifying expenditure on plant and machinery to be deducted from pre-tax profits. The...

If you believe that you have overpaid tax to HMRC, you may be entitled to claim a tax refund. Overpayments can occur for a variety of reasons, including changes to...

If you have not yet checked whether you need to use Making Tax Digital (MTD) for Income Tax, you should do so urgently. HMRC has issued a timely reminder that...

When a couple separates or divorces, most attention focuses on the emotional and practical aspects. However, it is important to consider the tax implications of transferring assets, as these can...

HMRC has confirmed that more than 11.48 million people submitted their 2024-25 self-assessment tax returns by the 31 January deadline. This included 475,722 taxpayers who left their filing until the...

Claiming Business Asset Rollover Relief allows for the deferral of Capital Gains Tax (CGT) when taxpayers sell or dispose of certain assets and use all or part of the proceeds...

1 March 2026 – Due date for Corporation Tax due for the year ended 31 May 2025. 2 March 2026 – Self-Assessment tax for 2024-25 paid after this date will...

If you are self-employed, it is important to understand which car and travel costs can be claimed. You can claim allowable business expenses for car, van, or travel costs, which...

The question of whether or not you are required to charge VAT when selling a company car depends on how the vehicle was bought and whether VAT was recovered at...

Business Asset Disposal Relief (BADR) can significantly reduce the Capital Gains Tax due when selling a business or shares, but with higher rates coming from April 2026, timing and eligibility...

If you have not yet checked if and when you need to use Making Tax Digital (MTD) for Income Tax, you should do so as a matter of urgency. This...

If your company profits sit between £50,000 and £250,000, marginal relief can soften the jump from 19% to 25% Corporation Tax. The Corporation Tax main rate applies to companies with...

If one partner earns under £12,570, you could transfer part of their unused personal allowance and cut your tax bill by up to £252 a year. The Marriage Allowance applies...

If your business has transitional profits from basis period reform, spreading over five years may reduce the cash flow impact, but it is important to understand the deadlines. The self-employed...

CGT on certain UK residential property sales often has a strict 60-day reporting and payment deadline, so early planning can avoid penalties. If you are selling a second property, such...

With the balancing payment and first payment on account both due on 31 January 2026, it is worth checking your options early if funds are tight. The final balancing payment...

1 February 2026 – Due date for Corporation Tax payable for the year ended 30 April 2025. 19 February 2026 – PAYE and NIC deductions due for month ended 5...

From April 2026, Making Tax Digital for Income Tax (MTD for IT) will become mandatory for many self-employed persons and landlords, marking a significant change in how they manage their...

If your business works in film, TV, games or the arts, Creative Industry Tax Reliefs could reduce your Corporation Tax bill and may even generate a payable tax credit. Creative...

HMRC’s figures show thousands of taxpayers are filing over the festive period, but leaving your return until late January risks penalties, stress and avoidable payment problems. A new press release...

The new 40% First Year Allowance (FYA) for qualifying main-rate plant and machinery expenditure first announced at Autumn Budget 2025 has now come into force. Effective from 1 January 2026,...

The government recently announced significant changes to the planned reforms to Agricultural Property Relief (APR) and Business Property Relief (BPR). The threshold for 100% relief will be increased from £1...

Verifying a VAT number before reclaiming VAT can protect your business from rejected claims, repayments, and unnecessary penalties. The online service for checking a UK VAT number is available at...

Are you ready for Making Tax Digital for Income Tax (MTD for IT)? This new way of reporting will become mandatory in phases from April 2026. If you are self-employed...