Latest Thinking

Considering VAT deregistration? Whether compulsory or voluntary, knowing the rules, deadlines and risks of delay can save your business from costly penalties. The decision to deregister for VAT may be...

Is your child starting school this September? Tax-Free Childcare could save you up to £2,000 a year. Check your eligibility now and start planning ahead. Working families whose children are...

Tax perks for Furnished Holiday Lets have ended. From April 2025, lettings fall under standard rental rules. Check the transition rules to avoid surprises. The tax advantages that were previously...

Filing your 2024-25 Self-Assessment return early means faster refunds, better budgeting, and no deadline stress. Do not delay, start gathering your tax details today. The 2024-25 tax year officially ended...

Employers must pay Class 1A NICs on 2024-25 benefits by 19 July (22 July if paying electronically). Avoid penalties by meeting deadlines and using correct references. Employers are reminded of...

On 8 May 2025, the UK government announced a landmark trade agreement with the United States, aimed at reducing tariffs and bolstering key British industries. This deal is projected to...

For small and medium-sized enterprises (SMEs), adopting accounting software offers a range of practical benefits that help streamline financial management, reduce errors, and improve decision-making. Here are the key advantages:...

The government wants your say on e-invoicing. Quicker payments, fewer errors, and better VAT reporting are on the table. A 12-week consultation could shape the future. HMRC and the Department...

The £3,000 reporting threshold for trading, property, and other income will simplify tax returns—300,000 people could be freed from filing. A digital alternative is also coming. As part of the...

HMRC’s CEST tool gets a revamp from 30 April 2025, with clearer questions and updated guidance to help users decide employment status for tax—plus stronger backing from HMRC. In a...

HMRC has delayed mandatory payrolling of benefits in kind by a year to April 2027, giving employers and software providers more time to prepare. Penalties will be eased in the...

The government is consulting on new VAT relief for goods donated to charities for free use. Could this fix an unfair gap in current rules? Have your say by 21...

The government has scrapped plans for detailed PAYE reporting of employee hours from April 2026, citing concerns over cost, complexity, and practicality. Employers will stick with current rules. As part...

Gross profit is one of the clearest indicators of how well your business is performing. It’s the money left after deducting the direct costs of producing goods or services from...

For many small and medium-sized enterprises (SMEs), the core business keeps the lights on, but additional income streams can provide much-needed stability and growth. Whether you’re a service provider, a...

1 June 2025 – Due date for corporation tax due for the year ended 31 August 2024. 19 June 2025 – PAYE and NIC deductions due for month ended 5...

When claiming tax relief or capital allowances on R&D, it’s crucial to ensure activities meet strict statutory definitions. Understanding Section 437 ITA and DTI guidelines is key to securing legitimate...

Not all state benefits are tax-free! Some, like the State Pension and Carer’s Allowance, are taxable, while others, like PIP and Universal Credit, are not. Knowing the difference can help...

If employees must work from home and their employer does not reimburse certain costs, they may be entitled to claim tax relief. Understanding the rules for household expenses, business travel,...

Not every money-making hobby counts as a business for tax purposes. Knowing when a hobby crosses into trading territory is vital to avoid unexpected tax bills. If your side project...

Dissolving a company ends its legal existence — but unresolved assets become property of the Crown under bona vacantia. Directors must act carefully to settle assets and liabilities before dissolution,...

After a business closes, income can still arise. Post-cessation receipts must be properly reported and taxed under specific rules. Knowing what qualifies — and what does not — ensures businesses...

For many small business owners, getting access to funding feels like trying to squeeze water from a stone. Traditional banks have always been a bit cautious when it comes to...

Cybersecurity might sound like something only big corporations need to worry about, but in truth, small businesses are increasingly in the firing line. In fact, many cyber criminals deliberately target...

From April 2025, more low-income workers on Universal Credit can join Help to Save. Save up to £50/month and get a 50% bonus – up to £1,200 over 4 years....

A reminder that increases to the rate of National Insurance contributions (NICs) that are paid by employers came into effect on 6 April 2025. The main rate of secondary Class...

From April 2025, holiday lets lose their special tax treatment. Landlords must prepare for new Income, Capital Gains, and Corporation Tax rules. Here’s what’s changing. The repeal of the Furnished...

The new VAT road fuel scale charges applicable from 1 May 2025 to 30 April 2026 have been published. The changes amend the VAT scale charges for taxing private use...

MTD for Income Tax kicks off in April 2026 for those earning over £50k. Digital records, quarterly updates, and tougher penalties are on the way. If this affects you, it’s...

Skip the phone queues. Your Personal Tax Account lets you manage everything from tax codes to refunds online. Quick, secure, and all in one place. If you haven’t signed up...