Latest Thinking

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...

The Valuation Office Agency (VOA) has issued updated advice to help business owners choose and monitor business rates agents more effectively. A key message is that the name listed in...

Despite intense lobbying by the farming community, the proposed reduction in IHT Business and Agricultural Property reliefs are included in the draft Finance Bill 2025-26. On 21 July 2025, the...

It was confirmed with the publication of the draft Finance Bill 2025-26 that measures first announced in the Autumn Budget 2024 to bring most unused pension funds and death benefits...

Who values goodwill when a business is sold? HMRC’s Shares and Assets Valuation team takes the lead. Whether the goodwill belongs to a sole trader, partnership or limited company, HMRC’s...

You now need to set up a verified GOV.UK One Login to confirm your identity with Companies House. To verify your identity at Companies House, you can use the GOV.UK...

Married couples can pass on up to £1 million tax-free if they plan their estates carefully. The Inheritance Tax (IHT) nil-rate band is currently £325,000. This means there is normally...

VAT relief is available on goods and services for people with long-term illnesses or disabilities. There are special VAT reliefs available for certain people living with disabilities or long-term illnesses....

A recent ruling affirms that an employer is directly liable for the unauthorised disclosure of an employee’s private information. An employee worked at a JD Wetherspoon pub for approximately eighteen...

The UK Government has unveiled a landmark plan to reduce electricity network charges for the country’s most energy intensive industries, such as steel, ceramics, glass and chemicals, slashing costs by...

UK Export Finance (UKEF) is the UK’s export credit agency and government-backed financier. Its mission is to ensure that no viable UK export fails simply due to lack of funding...

Overseas property owners must now report earlier ownership changes or risk penalties from 31 July 2025. Under new rules introduced by the Economic Crime and Corporate Transparency Act 2023, entities...

Working or claiming benefits in the UK? You may need to apply for a National Insurance number first. If you do not already have one, your NI number is essential...

Making Tax Digital for Income Tax will become mandatory in phases from April 2026. If you are self-employed or a landlord earning over £50,000 you need to start preparing to...

Double tax on estates can still hit families hard, even with treaties in place. When someone dies with ties to more than one country, their estate may face inheritance tax...

Need to help a relative or friend with tax? HMRC’s Trusted Helper service makes it quick and easy to support someone online. Whether it is checking Income Tax, updating their...

New UK transfer pricing rules could mean more reporting and fewer exemptions for mid-sized businesses. The government is consulting on proposals to tighten compliance and align with global standards. One...

Key Performance Indicators (KPIs) are not just numbers on a dashboard; they are tools to help business owners make better decisions. But with so many metrics available, how do you...

Starting your own business can be an exciting and liberating decision. But passion and ambition alone are rarely enough. One of the most overlooked factors in business failure is a...

As of April 2025, more employers can claim the increased £10,500 Employment Allowance thanks to relaxed eligibility rules. This increase will help employers reduce some of the impact of the...

The impact of frozen personal allowances often leads to fiscal drag, a situation where individuals pay more tax as their earnings rise without a corresponding increase in allowances. This occurs...

Capital Gains Tax on certain residential property sales must be reported and paid within 60 days to avoid penalties and interest. The annual exempt amount applicable to Capital Gains Tax...

Employers must act now to meet the deadline for paying Class 1A NICs for 2024-25 to avoid HMRC penalties. These contributions are due by 19 July 2025 if paying by...

Since 6 April 2025, the remittance basis of taxation for non-UK domiciled individuals (non-doms) has been replaced by the Foreign Income and Gains (FIG) regime. This shift marks a significant...

The second 2024-25 payment on account for self-assessment taxpayers is due on 31 July 2025. If you are finding it difficult to meet this tax bill, there are options available...

A Tribunal has provided a landmark ruling over employer-employee status in the context of direct payments made under the Care Act 2014, ruling that an LA was not in fact...

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