CIS monthly returns obligations
The Construction Industry Scheme (CIS) requires contractors to deduct tax from subcontractor payments and file...
Check or update company car tax details
If you use a company car for private travel, it's taxed as a Benefit in...
Jointly owned property – no partnership
Tax on rental income from jointly owned property depends on ownership shares, unless part of...
Tax when transferring assets during divorce proceedings
Separation and divorce can create tax implications, particularly Capital Gains Tax (CGT) on asset transfers...
Cut in interest rates
The Bank of England’s Monetary Policy Committee (MPC) met on 5 February and in a...
Health services exempt from VAT
Health professionals providing medical services may be exempt from VAT if their work falls within...
How to Check the Creditworthiness of New Customers
Before extending credit to new customers, it’s essential to assess their financial reliability. Checking their...
How to Stop Future Payments on Your Debit or Credit Card
Stopping future payments from being made on your debit or credit card is crucial for...
Not all hurt feelings are uncapped & costly
The Employment Appeal Tribunal slashed a £10,000 award for injury to feeling by 80% after...
Tax chores if managing a deceased person’s estate
When someone dies, their personal representative (executor or administrator) must value their estate to determine...
Tax on inherited private pension pots
Private pensions can be a great way to pass on wealth, but tax implications depend...
How umbrella companies work
Umbrella companies offer an easy way for freelancers and contractors to get paid without running...
31 January deadline met by more than 11.5 million people
Over 11.5 million people met the 31 January 2025 self-assessment deadline, but 1.1 million taxpayers...
When is a hobby a business
Not sure if your hobby is actually a taxable trade? HMRC uses ‘badges of trade’...
Small duty cuts on draught products from 1 February 2025
From 1 February 2025, alcohol duty on draught pints has been cut for the first...
Tax Diary March/April 2025
1 March 2025 - Due date for Corporation Tax due for the year ended 31...
Late Payment Support for Small Businesses – How to Protect Your Cash Flow
Cash flow is the backbone of any small business, yet late payments continue to be...
A Small Business Guide to Exporting and International Trade
Expanding into international markets can be a game-changer for UK small businesses, opening up new...
Reminder of Employer’s NIC changes from April 25
From 6 April 2025, employers will face a 1.2% rise in National Insurance contributions, alongside...
Reforms to taxation of non-doms from April 2025
From 6 April 2025, the remittance basis of taxation will be scrapped in favour of...
How to check your tax code
Your tax code determines how much tax is deducted from your pay. While 1257L is...
Who needs to register for an EORI number
If you are moving goods across borders, an EORI number may be essential for customs...
Self-employed must report profits on tax year basis
Big changes are here for the self-employed! From 2024-25, profits must align with the tax...
Student and postgraduate loan thresholds and rates
From 6 April 2025, new thresholds for student loan repayments will take effect, impacting borrowers...
