Find out what changes have been made to the Inheritance Tax regime for agricultural and business property from 6 April 2026.
From 6 April 2026, people with trading/property income over £50,000 per annum must keep records and report information digitally to HMRC.
From 6 April 2025, income and gains from a Furnished Holiday Let will form part of a property business, affecting tax reliefs and allowances.
Read our summary of some of the changes contained in the Autumn Budget 2024 and how they might affect you or your organisation…
For your business, a new government brings about a period of uncertainty. Consider how you can prepare to manage this transition and succeed…
From 6 April 2026, people with yearly trading/property income over £50,000 must move to a digital system to record and declare information.
From April 2026, reporting and paying Income Tax and Class 1A NICs on benefits-in-kind will be mandatory through payroll software.
A director can decide how much and by what means they extract the profit from their business by balancing salary and dividends.
Conducting year-end work can be difficult to prioritise. Read through our ten strategies that can make your year-end process a more seamless.
These are relevant dates and potential penalties for self-assessment returns, alongside possible options if you can’t meet the deadlines.
Sole traders & partnerships: If your year-end is not 31 March or 5 April, HMRC is changing how it will assess your profits.
The new tax year has begun; this means we can now submit your tax return for the year ending 5 April 2023. The final deadline may seem a way off, but submitting as early as possible is always preferable, so you are aware of any tax liabilities in good time. Here’s a checklist of things you may wish to consider.
There are always competing factors to consider when thinking about your March year-end as a company. How prepared do you feel?
For a round-up of what the Spring Budget contained and how this might affect you, please read our summary of some of the major changes.
The government announced back in September that the introduction of Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA) is being delayed by one
The rules for deciding whether a gift given in the course of business is deductible are complex. The rules for business gifts generally follow
The Government giveth, and the Government taketh away – or so it seems. Most COVID support grants paid out by central govenment or though
Your tax code is used by your employer or pension provider to work out how much Income Tax to take from your pay or pension.
Having listened to stakeholder feedback from businesses and the accounting profession, the government have announced that they will introduce Making Tax Digital (MTD) for
The assessment of self-employed or partnerships profits is usually relatively straight-forward if the accounting date – the date to which accounts are prepared – falls between 31 March and 5 April. However, overlap profits can arise where a business
New health and social care Levy to be introduced across the UK to provide extra cash to reform the Health and Social care systems
A thought-provoking question that has been asked by one of our readers is whether professional gambling is a trade or not. The answer to this question might surprise you. According to HMRC and reinforced by a number of court cases is the answer that
When total deductions due for company benefits, state pension, or tax owed from previous years exceed an employee’s personal allowance.
If you lost your job after 28 February 2020, your previous employer could have agreed to re-hire you and then place you on furlough. However, there is no compulsion on the part of your ex-employer to do this and many firms have been reluctant to make
