Latest Thinking

Company directors have a legal duty to act responsibly and in the best interests of their business. If a director fails to meet these responsibilities, they can face disqualification from...

1 September 2025 – Due date for corporation tax due for the year ended 30 November 2024. 19 September 2025 – PAYE and NIC deductions due for month ended 5...

If you cannot pay your tax bill, it’s crucial to contact HMRC as soon as possible. They may offer support through a Time to Pay arrangement, allowing you to repay...

The Money Purchase Annual Allowance (MPAA) is a pension rule designed to prevent individuals from gaining double tax relief on pension contributions. It targets situations where someone withdraws money from...

The question was raised as to whether, in a tripartite agency relationship, an employment relationship exists between an employee and their intermediary agency. For instance, Ryanair DAC employs some pilots...

A management buyout keeps the business in familiar hands. The team that already understands customers, systems, and culture steps into ownership, which reduces disruption and protects service quality. For founders,...

Why cash flow mattersProfit is important, but cash pays wages, suppliers and loan repayments. Even strong businesses can struggle if money arrives late. A few disciplined habits around invoicing and...

HMRC’s Time to Pay lets eligible taxpayers spread tax bills over time, avoiding immediate enforcement. If you owe tax to HMRC, you may be able to set up an online...

Know the rules for contractors & subs under CIS to avoid issues with HMRC. Under the Construction Industry Scheme (CIS), HMRC applies specific tax rules to contractors and subcontractors in...

HMRC requires businesses to maintain accurate VAT records to ensure correct tax payments. While all businesses must retain general records (such as invoices, bank statements, and receipts), a key requirement...

Banks must now give 90 days’ notice before closing accounts, giving customers more time to respond. Since April 2026, new government rules strengthen protections for individuals and small businesses at...

SMI loans can help pay mortgage interest for those on benefits, but repayment is due when the home is sold. Support for Mortgage Interest (SMI) is a government-backed loan provided...

A recent ruling has provided a timely reminder that substance trumps form in employment status disputes, and the mere insertion of a clause does not automatically change the employment status...

With the next UK Budget approaching, there is speculation about changes to tax rates, allowances, and reliefs. Acting now can help secure current benefits before any new rules take effect....

For many small business owners, the focus is on day-to-day operations. However, building long-term value is just as important, whether your aim is to sell in the future, attract investors,...

With the Residence Nil Rate Band (RNRB), families can pass on up to £1 million without IHT The RNRB is an additional £175,000 Inheritance Tax (IHT) allowance that applies when...

Properties needing repairs still count as homes and false claims to recover Stamp Duty Land Tax could mean big tax bills and penalties. HMRC has issued a warning to homebuyers...

Fit and proper test fee to jump from £150 to £700 under HMRC’s proposed AML supervision changes Many businesses are monitored by the Financial Conduct Authority (FCA) or certain professional...

The Bank of England has knocked the main interest rate down to 4% today, cutting it by a quarter‑point from 4.25%. It’s the fifth cut in a year and brings...

HMRC’s new Q&A tool guides you through each step of a compliance check. The free interactive online tool is designed to help individuals and businesses better understand what happens during...

Businesses can reclaim duties on qualifying goods moved to or through Northern Ireland since 2021 The Northern Ireland Duty Reimbursement Scheme allows businesses to reclaim import duties paid on goods...

For small businesses and growing companies alike, one of the most reliable sources of funding is often the profits they generate. While it can be tempting to extract earnings in...

Many small business owners turn to family members when looking to fill roles in their team. It can seem like a natural choice, offering trust, loyalty, and a shared sense...

New digital services have been launched that aim to make filing and managing tax returns quicker and less stressful. These improvements are part of HMRC’s Transformation Roadmap, which sets out...

Shared home ownership offers a more accessible route to owning a home for those who cannot afford the full deposit or mortgage on a property that suits their needs. Under...

Before probate begins, you must estimate the estate’s value to see if Inheritance Tax applies. This includes valuing the deceased person’s money, property and belongings in order to determine if...

Many business gifts and hospitality costs are not tax-deductible under current rules. Entertainment expenses including providing hospitality and business gifts are common, but the taxation of these expenses is strictly...

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 earning over £50,000 you need to...

Items discovered lying on land or buried in the soil, such as antiques or historical objects, are treated as chattels for Capital Gains Tax (CGT) purposes. This remains true even...

Communities and town centres across the UK are about to get a serious boost. The Government has unveiled sweeping reforms aimed at slashing red tape so new cafés, bars, music...