Employers looking to provide staff with small gifts or seasonal tokens of appreciation should remember the rules for tax-free trivial benefits.
A benefit can qualify as a trivial benefit where all of the following conditions are met:
the benefit costs £50 or less;
it is not cash or a cash
Many businesses take out “key person” insurance policies to protect against the financial impact of losing an important employee, director or other individual who is central to the success of the business. These policies may provide cover for death, critical illness, sickness, accident
The government has announced a package of measures intended to help motorists and businesses manage rising fuel costs following disruption linked to the conflict in Iran.
As part of the package, the temporary 5p fuel duty cut has been extended until the end of 2026. The government estimates that
The Chancellor of the Exchequer, Rachel Reeves updated Parliament on 21 May 2026 on the Government’s economic response to the war in Iran and the wider measures being taken to support households and businesses with rising cost pressures. One of the measures announced was an increase in approved
The Government has announced a new package of measures designed to help households manage rising living costs during the summer months, as concerns continue over inflation, fuel prices and household spending pressures.
The package, described as the “Great British Summer Savings Scheme”,
The Government has introduced a landmark new Bill aimed at tackling the growing problem of late payments to small businesses, with ministers describing the measures as the biggest crackdown in more than 25 years.
Late payment remains one of the most significant pressures facing smaller firms,
When renting out property, landlords may have both Income Tax and National Insurance considerations to consider. However, rental income is generally taxable.
For individuals, the first £1,000 of rental income is tax-free under the property allowance. Where rental income exceeds this, landlords may
The VAT Cash Accounting Scheme can help businesses improve cash flow by allowing VAT to be accounted for when customers actually pay invoices, rather than when invoices are issued. This can be particularly beneficial for businesses that offer credit terms or experience delays in customer
Business Asset Disposal Relief (BADR) applies to the sale of a business, shares in a trading company, or an individual’s interest in a trading partnership. When this relief is available, a reduced 18% rate (2026-27) of Capital Gains Tax (CGT) applies.
To qualify for BADR, certain conditions must
Identity verification requirements at Companies House became a legal requirement for directors and people with significant control (PSCs) from 18 November 2025. This date marked the start of a 12-month transition period for identity verification.
Companies House is introducing the new requirements