Latest Thinking

Married couples and civil partners could save up to £252 a year by transferring part of one partner’s unused personal allowance to the other, but you may need to cancel...

When a couple is separating or undergoing divorce proceedings, tax issues are often not the first thing on their minds. However, alongside the emotional challenges, it is important to understand...

Waiting to be paid but still having to hand over VAT? The VAT Cash Accounting Scheme potentially lets you pay VAT only when your customer pays you, helping to ease...

1 November 2025 – Due date for Corporation Tax due for the year ended 31 January 2025. 19 November 2025 – PAYE and NIC deductions due for month ended 5...

Recently, a clear legal precedent confirmed that the nature of an individual’s work is determined by the reality of the actual employment relationship rather than by arbitrary titles. Mr. Gooch...

Every business faces unexpected challenges. Rising costs, supply delays, late payments and sudden changes in demand can all place pressure on cash flow. The businesses that cope best are usually...

Many business owners make decisions based on instinct, but intuition alone can be unreliable. Having timely, accurate management information replaces guesswork with insight and leads to stronger profitability. Management information...

Non-UK resident companies that buy, develop, or sell UK land must register for Corporation Tax within three months of a disposal. Those non-UK resident companies that deal in or develop...

The Enterprise Investment Scheme (EIS) is designed to help smaller, higher-risk trading companies raise finance by offering a range of tax reliefs to investors who purchase new shares in those...

Business Asset Disposal Relief (BADR) still offers a valuable tax break, but the CGT rate has risen to 14% from April 2025 and will increase again to 18% in April...

As of April 2025, directors of close companies and self-employed taxpayers face new mandatory reporting requirements on their Self-Assessment returns. Up to 900,000 company directors and 1.2 million taxpayers carrying...

Many people rely on state benefits, but it is not always obvious which payments are taxable and which are tax-free. HMRC’s guidance outlines the following list of the most common...

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...

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...

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...

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...

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:...

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 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...

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...

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...

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...

Bereaved spouses who lost service pensions before 2015 have until 15 October 2025 to claim a one-off £87,500 recognition payment. This scheme was launched in October 2023 to help war...

Fraudsters are continuing to target taxpayers with scam emails as the deadline for submission of self-assessment returns for the 2024-25 tax year gets ever closer. In the 12 months to...

Employers can generally claim tax relief on contributions made to a registered pension scheme by deducting those payments as an expense when calculating their business profits. This reduces the amount...

Speculation is growing that rates or allowances applied to dividend income may change in the next Budget. The current tax rates for dividends received (in excess of the £500 dividend...

Issuing a VAT invoice without registration or authorisation can lead to HMRC penalties, even if it is done by mistake. A penalty may be charged by HMRC when an individual...

If your business operates in a sector covered by the Money Laundering Regulations, you must be monitored by a supervisory authority to ensure compliance. This article outlines who needs to...

Mr. Aslam, a former Metroline employee, applied to another bus company on 13 April 2019, disclosing that he suffered from partial hearing loss, depression, anxiety, insomnia and stress, and was...

Every business has a duty to pay tax, whether that is Corporation Tax, VAT, PAYE, or personal tax liabilities for the owners. While these payments are predictable, many businesses still...