As the 2025/26 tax year approaches, it brings several significant changes to HM Revenue & Customs’ (HMRC’s) rules that will impact your business operations, financial reporting, and tax management. Here is a quick rundown of the new rules that are…
HM Revenue & Customs (HMRC) has clarified that if your earnings from interest exceed £10,000, tax may apply depending on the account type. This clarification came when a customer reached out to the tax authority on X to see if…
Taking advantage of green tax reliefs is a good way to reduce how much Climate Change Levy tax (CCL) your business pays. To get these reliefs, your business will need to operate in a more environmentally friendly way. Any business…
As a sole trader, it is only natural to look for opportunities to save money and maximise your earnings. One effective strategy is to consider buying a van, as sole traders can benefit from tax deductions on business-related expenses through…
A director’s loan is money taken out of a company by a director that is not a salary, dividend, expense reimbursement or money that has previously been paid into or loaned to the company. A record of money borrowed or…
Nearly 900,000 companies were incorporated in 2024 – an 11.2 per cent increase compared to 2023. More entrepreneurs are recognising the benefits of limited companies. The advantages of limited companies include limited personal liability, mitigated taxation and greater exposure to…
Directors’ loan accounts (DLAs) are a common financial tool for owner-managed businesses.
To support the vibrant sector that is the creative industry, the Government offers an array of tax reliefs and expenditure credits.
Christmas. A time of year for tinsel, turkey, tangerines, and… tax returns?
With the planned abolition of the Furnished Holiday Let (FHL) tax regime in April 2025, owners of FHL properties are facing changes to how their properties are taxed.