Kittel VAT: How to control the uncontrollable
3 Jun 2025
Receiving a Kittel VAT notice is something that many businesses dread. HM Revenue and Customs (HMRC) can demand the repayment of tax already reclaimed, and this can sometimes amount to a significant amount of money. The notice comes when a
Increased borrowing could mean increased taxes, experts warn
3 Jun 2025
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 Chancellor may have little choice but to plug the gap with tax rises, spending cuts or
How to prepare for an unexpected economic recovery
3 Jun 2025
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 and signs of a recovering economy. The official figures indicate that increases in customer spending and business investment
Identity crisis – Companies House begins to verify identities
3 Jun 2025
On 8 April 2025, Companies House introduced identity verification for those who make filings on behalf of a business. It is currently a voluntary process, but will become mandatory for new businesses by the end of the year and mandatory
Too many sole traders are still missing out on their State Pension
3 Jun 2025
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 affect how much you receive. Unfortunately, too many sole traders are still missing out
Three easy ways to manage your directors’ loan accounts
3 Jun 2025
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 However, you must keep track of any directors’ loans – money withdrawn from the company that
Class 2 NICs – The hidden issue affecting self-employed taxpayers
3 Jun 2025
Recent changes to Class 2 National Insurance contributions (NICs) were meant to simplify things for self-employed taxpayers.
Are rising tax arrears putting your business at risk?
29 May 2025
Businesses in the UK are facing increasing financial strain, with new data from HM Revenue & Customs (HMRC) showing that tax arrears have hit £28 billion per month on average across the first quarter of 2025.
HMRC or a scam – can you trust the letters you receive?
27 May 2025
There are always going to be bad actors looking to scam reputable businesses out of money and data.
The countdown to Making Tax Digital for Income Tax – Who is affected first?
22 May 2025
With less than a year to go before Making Tax Digital for Income Tax (MTD for IT) becomes mandatory for sole traders and landlords earning over £50,000, it is important to start preparing.
