Close companies face additional reporting requirements
Further administrative changes are on the cards for close companies, as the Government seeks to gain a better understanding of previously difficult-to-distinguish transactions. Close companies – those companies controlled by five or fewer participators or by their directors if those directors
HMRC confirms how sole traders and landlords can exit Making Tax Digital for Income Tax
Just days ahead of the initial phase of Making Tax Digital for Income Tax, HMRC has confirmed the exit options for sole traders and landlords who fall below the annual qualifying income threshold.
Are close companies about to have more reporting requirements?
As the steady expansion of reporting obligations continues, it seems that the time has come for close companies to face greater scrutiny.
Has your payroll accounted for an early Easter Bank Holiday?
I am sure many of us can’t wait for the long Easter weekend to get here. If it feels like it has come early this year, you are correct.
Does being on maternity leave make you exempt from Making Tax Digital?
Given that it is the biggest overhaul to the way that taxes are filed in decades, it is no wonder that Making Tax Digital (MTD) for Income Tax has a whole host of additional considerations to manage.
HMRC sets its sights on side hustlers again
More than £55 billion worth of side hustle sales data is to be handed to HMRC by platforms, as the tax authority ramps up compliance on small online traders and service providers.
Will HMRC go online-only in the future?
Fresh off a wave of regulatory changes designed to improve transparency and efficiency with filings, business owners are having to take stock of new administrative responsibilities.
Reinvesting in your business? How rollover relief can help manage Capital Gains Tax
When a business sells an asset such as property, land or equipment, the resulting gain can trigger a Capital Gains Tax (CGT) liability.
Tax awareness week is a good time to learn which obligations are changing
On the surface, it might seem odd that there would be an entire week dedicated to tax awareness when so many people seem to live in constant dread, knowing their obligations loom overhead.
Have you verified your identity? Staying compliant with Companies House changes
Since November 2025, it has become a requirement for all company directors and Persons with Significant Control (PSCs) to verify their identity with Companies House. As this must be completed by November this year, it is concerning that many have
