What should you avoid when transitioning to Making Tax Digital for Income Tax Self-Assessment?
From April 2026, the Government’s Making Tax Digital (MTD) initiative will move to target self-employed individuals and landlords.
Director’s loans – A missed tax planning opportunity?
A director’s loan is a form of profit extraction from your company, often used alongside salaries, dividends and expenses.
Ten top tips for boosting your budget
Effectively managing your budget is crucial for business success, especially in challenging economic times.
Streamlining your payroll set-up with employment and tax records
When your business takes on a new employee, we know that you’re eager to get them settled into their role – but not before you’ve completed the right checks and set them up in your payroll system!
Starting a seasonal business? Here is what you need to know
Are you considering launching a seasonal business? If so, you are beginning an exciting journey that comes with its own set of unique challenges and opportunities.
Furnished residential lets vs Furnished Holiday Lets – The tax situation
If you’ve invested in a property to let and furnished it, you will be liable to pay tax on the income you receive from letting the property out.
The rise of the higher rate taxpayer
The Government continues to freeze both the personal allowance and the higher-rate income tax thresholds – leading to an increase in the number of higher-rate taxpayers this year. The result of ‘fiscal drag’ – a phenomenon where tax thresholds fail
High-income earners need to re-register for child benefit
Child benefit supports parents or guardians of children under 16, or under 20 if in approved education, by contributing towards the costs of raising them. Since January 2013, the High Income Child Benefit Charge (HICBC) affects those earning above a
P11D – Remember to report before the July deadline!
With the 6 July deadline nearing, it is essential to understand the updated reporting requirements for Class 1 National Insurance Contributions (NICs) on benefits in kind (BIKs). Employers offering benefits, such as private healthcare, living accommodation, travel expenses, and company
SME recovery continues as sustainability and growth take centre stage
In its latest research into the UK’s SME economy, NatWest Group has identified an encouraging trend among the country’s independent operators, as SME growth continues for the fifth consecutive month. Two sectors led the charge, as the service industry continues
