Latest Thinking

In the Autumn Budget, the Chancellor had been expected to increase fuel duty rates. However, she has extended the fuel duty cut for a further 6 months to help support...

The degree of speculation about this year’s Budget announcements was further compounded when the Office of Budgetary Responsibility uploaded their report on Budget changes prior to Rachel Reeves announcements to...

Most business owners know that progress matters, but many still hesitate when it comes to planning. It can feel like an extra task or something that only large companies need...

Many business owners focus on sales as the main driver of growth. Sales matter, but they are only part of the story. Real financial growth happens when a business retains...

While there are many state benefits available, it is not always clear which of these are taxable and which are tax-free. HMRC’s guidance outlines the following list of the most...

A demerger involves splitting the trading activities of a single company or group into two or more independent entities. This can be facilitated by distributing the assets of a holding...

If you earn fees or sell goods as a side hustle, you may need to pay tax on your profits. HMRC has launched a new press release encouraging Christmas crafters...

Claiming Child Benefit can provide an important benefit by granting National Insurance credits. If you claim Child Benefit and your child is under 12, you will automatically receive National Insurance...

Making Tax Digital for Income Tax (MTD for IT) will become mandatory in phases from April 2026. If you are self-employed or a landlord and have over £50,000 in qualifying...

If you use your own money to buy items for work, you may be eligible to claim tax relief as long as the items are essential for your job and...

The claimant began employment as a Contracts Coordinator on 23 January 2023, subject to a contractual 6-month probationary period, one which required 5 weeks’ notice for termination. The contract included...

The daily charge for driving within the London Congestion Charge zone will rise from £15 to £18 from 2 January 2026. This is the first increase in several years and...

Many small businesses rely on a mix of overdrafts, card facilities and short term loans to maintain day to day cash flow. During the past year banks and alternative lenders...

Many businesses are still unaware that the VAT late filing and late payment rules now operate on a points-based system, where repeated delays can quickly lead to a £200 penalty...

HMRC is currently contacting certain sole traders by email to reiterate the importance of adjusting business expenses for personal use. The email explains: why personal use must be adjusted on...

HMRC offers a helpful online tool that allows agents and taxpayers to check when they can expect a response to a query or request that they have made. The online...

The Department for Business & Trade has recently published a report that outlines the government’s enforcement of the National Minimum Wage (NMW) and National Living Wage (NLW) for the 2024-25...

If you are unable to pay your tax bill, it’s important to reach out to HMRC as soon as possible. HMRC may offer a Time to Pay arrangement, allowing you...

The free HMRC tax app now provides quick access to tax codes, income history, self-assessment details, National Insurance records and even payment options, all from your phone. HMRC’s free tax...

Current estimates suggest that there are around 5.6 million businesses operating in the UK. This figure comes from the Department for Business and Trade and the Office for National Statistics....

A limited company is a separate legal entity. In normal circumstances, its debts belong to the company, not to the directors. This is one of the central advantages of incorporation....

1 December 2025 – Due date for Corporation Tax payable for the year ended 28 February 2025. 19 December 2025 – PAYE and NIC deductions due for month ended 5...

A Company Voluntary Arrangement (also known as a CVA) is a special arrangement that allows a company with debt problems or that is insolvent to reach a voluntary agreement to...

Where cryptoasset tokens (also known as cryptocurrency) are held personally, this investment is usually undertaken in the hope of making a capital appreciation in its value or to make particular...

Most employees will come across forms such as the P45, P11D and P60 during their working life, and knowing what each one is for can make it much easier to...

There is a trivial benefit-in-kind (BiK) exemption that applies to small, non-cash gifts (such as a bottle of wine or a bouquet of flowers) that are occasionally given to employees....

If your business imports goods into the UK, it is important to be familiar with the Customs Declaration Service and to ensure that any duty payments are made correctly and...

It is quite common for tax codes to be wrong, particularly if your income or employment situation has changed, so it is worth taking a few moments to check that...

A recent ruling has established that temporary worker arrangements do not constitute a single, continuous employment relationship in which workers retain the unfettered right to refuse assignments. This effectively confirms...

Many businesses arrange insurance in the early days and then only look at it again when something changes, or when a renewal comes around. The difficulty with this approach is...