Latest Thinking

You must tell HMRC if you no longer need to file a tax return. Whether you have stopped trading or no longer rent out property, notifying HMRC early avoids penalties...

Where you live determines if you pay Scottish Income Tax. The rules are not based on where you work, who pays you, or national identity, but on your main UK...

Registering for payroll is essential when hiring staff. From HMRC registration to legal compliance, getting payroll processes right ensures your team is paid correctly and your business avoids penalties. When...

You may need to submit tax returns for someone who has died. As the personal representative, you are legally responsible for reporting income earned before and after death. This person,...

Artificial intelligence (AI) is no longer something for big tech firms alone – it is becoming a practical tool for small businesses, especially when it comes to financial management and...

From 2025, Companies House is rolling out new identity verification requirements for directors, people with significant control (PSCs), and anyone forming or managing a UK company. These changes form part...

HMRC missed out on £46.8bn in tax last year. Small businesses and Corporation Tax make up the biggest share of the shortfall. The tax gap for the 2023-24 tax year...

Starting work this summer? Download the free HMRC app to get your NI number, check your tax code and stay on the right pay. Young people finishing exams and entering...

Get a clear view of your future pension. Use the enhanced online service to check, boost, or track your State Pension entitlement. The enhanced Check Your State Pension forecast service...

Struggling with late-paying customers? The VAT Cash Accounting Scheme helps protect cash flow by taxing only what you have received. The VAT Cash Accounting Scheme is designed to support businesses...

Buying tools or clothing for your job? You could claim tax relief. Check if you qualify and how to get your money back. If you have spent your own money...

From April 2024, the cash basis is the default method for sole traders and most partnerships when preparing Self-Assessment returns. Designed to simplify tax reporting, the cash basis lets businesses...

A recent tribunal clarified the procedural powers of the Certification Officer (CO), ruling that applications from trade union members cannot be refused simply because they are deemed “unarguable”. After becoming...

In a significant update, the UK government has unveiled a new compensation scheme targeting individuals affected by the earlier “Capture” software, used in over 2,000 Post Office branches during the...

The government has announced the reinstatement of Winter Fuel Payments for pensioners in England and Wales for winter 2025-26, reversing the previous year’s cuts. Around nine million pensioners are expected...

You could earn up to £18,570 in tax-free savings interest in 2025-26, thanks to the personal allowance, starting rate for savings, and the Personal Savings Allowance. If your taxable income...

Once your income passes £100,000, your tax-free allowance starts to shrink. Between £100,000 and £125,140, the effective tax rate climbs to 60%, but smart planning can help. If you earn...

Streamline your VAT reporting with fewer returns and smoother cash flow. The Annual Accounting Scheme makes VAT easier to manage for eligible small businesses. The VAT Annual Accounting Scheme is...

From self-employment to rental income, there are many reasons you may need to file a Self-Assessment return. Know the triggers and register with HMRC by 5 October if this is...

Corporation Tax rises with profit levels. Marginal relief bridges the gap, easing businesses from the 19% small profits rate to the 25% main rate. The Corporation Tax Main Rate applies...

The government’s 2025 Spending Review outlines a major funding boost for healthcare, defence, housing, and infrastructure to support long-term recovery and growth. The 2025 Spending Review was published on 11...

Chancellor Rachel Reeves delivered her first Spending Review to Parliament last week, setting out the government’s financial priorities for the next three years. Her approach signals a shift away from...

BT has announced that it may exceed its previously stated target of cutting 40,000 jobs by 2030, as artificial intelligence (AI) becomes more central to its operations. The move comes...

If one partner in a marriage or civil partnership earns under £12,570, you could save up to £252 a year, and up to £1,260 if you backdate your Marriage Allowance...

Use your own vehicle for work? You could be entitled to a tax-free mileage allowance. Make sure you are not missing out on HMRC-approved rates. If you use your own...

Selling your main residence? Private Residence Relief can exempt you from Capital Gains Tax. If you meet certain conditions, there may be nothing to pay. In most cases, Capital Gains...

Lifetime gifts can reduce Inheritance Tax, but survival for seven years and using key exemptions like the £3,000 annual allowance are crucial to making them fully tax-free. Most gifts made...

Identity verification is now rolling out for directors, PSCs, and agents, with more filing roles to be included soon under new anti-fraud rules. Companies House is beginning to roll out...

The BADR Capital Gains Tax rate has risen to 14% from April 2025 and will increase further to 18% in April 2026. Business Asset Disposal Relief (BADR) offers a valuable...

The Court of Appeal addressed the complexities of benefit scheme amendments and the lines of responsibility within corporate structures in a complex case surrounding post-employment entitlements. A Mr. Fasano had...