Working or claiming benefits in the UK? You may need to apply for a National Insurance number first. If you do not already have one, your NI number is essential for tracking tax, National Insurance contributions and accessing certain government services. While most UK residents receive their number
Need to help a relative or friend with tax? HMRC’s Trusted Helper service makes it quick and easy to support someone online. Whether it is checking Income Tax, updating their personal details or reviewing taxable benefits like company cars or medical insurance, you can do it all with their
Making Tax Digital for Income Tax will become mandatory in phases from April 2026. If you are self-employed or a landlord earning over £50,000 you need to start preparing to submit quarterly updates, keeping digital records and a new penalty system will apply.
Initially, MTD for IT will apply to
New UK transfer pricing rules could mean more reporting and fewer exemptions for mid-sized businesses. The government is consulting on proposals to tighten compliance and align with global standards. One key change would remove the transfer pricing exemption for medium-sized enterprises, keeping it
Starting your own business can be an exciting and liberating decision. But passion and ambition alone are rarely enough. One of the most overlooked factors in business failure is a lack of direct experience or knowledge in the chosen industry. Put simply, someone who has spent their working life as
Key Performance Indicators (KPIs) are not just numbers on a dashboard; they are tools to help business owners make better decisions. But with so many metrics available, how do you know which ones matter most for your business?
The answer is simple: start with your goal. KPIs should always support
Employers must act now to meet the deadline for paying Class 1A NICs for 2024-25 to avoid HMRC penalties. These contributions are due by 19 July 2025 if paying by post, or by 22 July 2025 for electronic payments. Class 1A NICs apply to most taxable benefits given to employees and directors,
Capital Gains Tax on certain residential property sales must be reported and paid within 60 days to avoid penalties and interest.
The annual exempt amount applicable to Capital Gains Tax (CGT) is currently £3,000. CGT is normally charged at a simple flat rate of 24% and this applies to most
The second 2024-25 payment on account for self-assessment taxpayers is due on 31 July 2025. If you are finding it difficult to meet this tax bill, there are options available to ease the burden.
Taxpayers with liabilities of up to £30,000 can use the online Time to Pay (TTP) service to set up
Since 6 April 2025, the remittance basis of taxation for non-UK domiciled individuals (non-doms) has been replaced by the Foreign Income and Gains (FIG) regime. This shift marks a significant change, as the new FIG regime is based on tax residence rather than domicile. Under the revised rules,