As of April 2025, directors of close companies and self-employed taxpayers face new mandatory reporting requirements on their Self-Assessment returns. Up to 900,000 company directors and 1.2 million taxpayers carrying …
Running a small business can feel like juggling endless priorities, but taking time to set clear goals is essential if you want your business to grow and remain sustainable. Here …
The UK’s financial regulator has proposed an increase to the level of savings protection available under the Financial Services Compensation Scheme (FSCS). If approved, the changes would take effect from …
When considering VAT on entertainment provided solely to directors or partners of a business it is generally not recoverable as VAT Input Tax. HMRC considers that directors and partners are …
Businesses over £90,000 turnover must register for VAT, but HMRC may grant exceptions if the increase is temporary. A business must register for VAT if either of the following applies: …
Not all casual payments are tax-free; HMRC’s miscellaneous income rules may apply depending on the circumstances. The special miscellaneous income rules sweep-up provisions that seek to charge tax on certain …
Paper tax returns are due 31 October 2025, and new registrants must notify HMRC by 5 October 2025. Act early to avoid penalties. Firstly, the deadline for submitting paper self-assessment …
Homeowners can earn up to £7,500 tax-free under the rent-a-room scheme, with simple reporting and flexible tax options. This set of special rules is designed to encourage individuals to make …
The standard tax treatment for couples living together, whether married or in a civil partnership, is that income from jointly held property is split equally (50:50) between them, regardless of …
During the State Visit by President Trump, the UK secured a record-breaking £150 billion of inward investment from US firms. The package is intended to boost jobs, support growth, and …
