Child Benefit repayments changing for thousands this summer
The way families make Child Benefit repayments to HM Revenue & Customs (HMRC) is changing. From the summer, many families will have the option to …
News
Mind the (tax) gap – Why HMRC may have SMEs in its sights
The tax gap, the difference between the amount of tax owed and collected, has long been a thorn in HM Revenue and Customs’ (HMRC’s) side. HMRC bel…
Mandatory payrolling of Benefits in Kind delayed by HMRC
The delay to payrolling Benefits in Kind (BIK) to 2027 may seem like a cause of relief for many businesses who are concerned about the extra responsib…
Kittel VAT: How to control the uncontrollable
Receiving a Kittel VAT notice is something that many businesses dread. HM Revenue and Customs (HMRC) can demand the repayment of tax already reclaimed…
Increased borrowing could mean increased taxes, experts warn
Public borrowing hit £20.5 billion in April, the highest level for that month since 1993 and nearly £3 billion above forecast. Economists warn the C…
How to prepare for an unexpected economic recovery
The International Monetary Fund (IMF) has upgraded the UK’s 2025 GDP growth forecast to 1.2 per cent, citing a strong first-quarter performance …
Identity crisis – Companies House begins to verify identities
On 8 April 2025, Companies House introduced identity verification for those who make filings on behalf of a business. It is currently a voluntary proc…
Too many sole traders are still missing out on their State Pension
How much State Pension you get depends on your National Insurance (NI) record when you reach the State Pension age. Gaps in your NI record could affec…
Three easy ways to manage your directors’ loan accounts
It is not uncommon for directors of a company to take loans from the business during each financial year, often to cover unexpected bills. However, yo…
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…