How to maximise tax relief on losses to offset higher employment costs
The recent rise in employers’ National Insurance Contributions (NICs) to 15 per cent will lead to a 60 per cent increase in NIC costs for a business…
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How HMRC treats cryptoassets disposed of by businesses
Cryptoassets make up a growing portion of the market, and businesses are increasingly looking to take advantage of these digital currencies. If your b…
HMRC is closing its free Company Tax Return service
HM Revenue & Customs (HMRC) will permanently close its free service for submitting Company Tax Returns and annual accounts on 31 March 2026. Built…
Joint owners of Furnished Holiday Lets prepare for increased taxes
With the abolishment of the specific tax considerations for Furnished Holiday Lets (FHL) from the beginning of the current tax year, owners need to pr…
Beware tax avoidance scheme promoters – HMRC cracks down with new powers
Recent Government estimates suggest that as much as £1.8 billion is lost every year due to tax avoidance schemes. That money, designated to fund scho…
Is your remuneration strategy still tax-efficient in 2025/26?
Business owners who pay themselves through a combination of salary and dividends should revisit their remuneration strategy this tax year. With Income…
Capital allowances: Full Expensing vs AIA vs Writing-Down Allowances
Capital allowances allow businesses to claim tax relief on money invested in assets like machinery, equipment, or certain vehicles used commercially. …
Too many businesses falling into VAT traps
VAT is complex, and too many businesses are making costly, avoidable mistakes. Even a simple oversight or misunderstanding can lead to penalties, cash…
900,000 sole traders pulled into MTD for ITSA
The Government has confirmed that Making Tax Digital (MTD) for Income Tax will apply to sole traders and landlords earning over £20,000 a year. This …
Labour introduces harsher penalties for late taxpayers
The Chancellor’s Spring Statement introduced harsher penalties for late taxpayers under Making Tax Digital for Income Tax Self Assessment (MTD for I…