Annual leave & holiday pay (effective April 2026)
From 6 April, the Employment Rights Act (ERA) 2025 has introduced strict new record-keeping duties, requiring employers to maintain detailed records of annual leave, carried-over holiday, and holiday pay. Employers must keep these records for
The outlook for UK interest rates during 2026 remains uncertain, although current expectations suggest relative stability, with the possibility of modest reductions later in the year if inflation continues to ease. While interest rates have fallen from their recent peak levels, they remain higher
Rising prices remain a concern for many UK business owners, particularly where energy, materials, labour and finance costs are unpredictable. While it is rarely possible to eliminate cost pressures entirely, a number of practical steps can reduce exposure and provide greater stability when planning
Employers providing employees with expenses or benefits in kind must comply with specific reporting, filing, and payment obligations each tax year. These requirements are designed to ensure that benefits are correctly reported, and that the appropriate tax and National Insurance contributions are
The VAT Flat Rate Scheme is designed to simplify the way a business accounts for VAT and, in doing so, reduce the administrative burden associated with VAT compliance. The scheme is available to businesses that expect their annual taxable turnover in the next 12 months to be no more than
The settlements legislation is designed to ensure that where a settlor retains an interest in settled property, the income arising is treated as the settlor’s income for all tax purposes. A settlor will be treated as having retained an interest where the settlor, or their spouse or civil partner,
If you are self-employed, it is important to understand which car and travel costs are allowable for tax purposes.
You may claim allowable business expenses for car, van, and travel costs, which will reduce your taxable profits. Typical allowable costs include:
Vehicle insurance
Repairs and
When a sole trader or partnership transfers a business to a company, a chargeable gain may arise. This is calculated by reference to the market value of the business assets at the date of incorporation (including goodwill), compared with their original base cost. The resulting gain would ordinarily
Those responsible for the accounts and tax compliance of private limited companies must ensure they are fully aware of the relevant obligations and statutory deadlines.
Following the end of each financial year, a private limited company is required to prepare full annual accounts and submit a
Energy costs remain a significant pressure on household budgets, and reducing consumption continues to be one of the most reliable ways to control expenditure. Fortunately, many practical steps can lower usage without reducing comfort. A structured approach often produces the best results, starting