Many business owners focus on sales as the main driver of growth. Sales matter, but they are only part of the story. Real financial growth happens when a business retains profits. Keeping a portion of earnings inside the business, rather than extracting everything each year, creates stability,
Most business owners know that progress matters, but many still hesitate when it comes to planning. It can feel like an extra task or something that only large companies need to worry about. Yet, in practice, steady planning is one of the simplest ways to create real progress in any small or medium
If you use your own money to buy items for work, you may be eligible to claim tax relief as long as the items are essential for your job and are used solely for work purposes.
Flat rate expenses (also known as a flat rate deduction) allows you to claim tax relief for a fixed amount each tax year to
Claiming Child Benefit can provide an important benefit by granting National Insurance credits.
If you claim Child Benefit and your child is under 12, you will automatically receive National Insurance credits. This in turn will protect your contribution record during periods of home
While there are many state benefits available, it is not always clear which of these are taxable and which are tax-free.
HMRC’s guidance outlines the following list of the most common state benefits which are taxable, subject to the usual limits:
Bereavement Allowance (previously Widow’s
A demerger involves splitting the trading activities of a single company or group into two or more independent entities. This can be facilitated by distributing the assets of a holding company to its shareholders.
There are special statutory demerger provisions that are designed to make it easier
If you earn fees or sell goods as a side hustle, you may need to pay tax on your profits.
HMRC has launched a new press release encouraging Christmas crafters and anyone with a fee earning hobby to check their tax reporting obligations as part of its Help for Hustles campaign. This is relevant to
Making Tax Digital for Income Tax (MTD for IT) will become mandatory in phases from April 2026. If you are self-employed or a landlord and have over £50,000 in qualifying income you need to start preparing to submit quarterly updates, keeping digital records and cope with a new penalty system.Your
The claimant began employment as a Contracts Coordinator on 23 January 2023, subject to a contractual 6-month probationary period, one which required 5 weeks’ notice for termination. The contract included a garden leave clause, but no clause permitting Payment in Lieu of Notice (PILON). Disputes
Many small businesses rely on a mix of overdrafts, card facilities and short term loans to maintain day to day cash flow. During the past year banks and alternative lenders have become more cautious, and several indicators suggest that credit conditions will tighten further during 2026. For business