In a move to simplify tax compliance and boost the economy, the Government has announced that the Income Tax Self-Assessment (ITSA) reporting threshold will rise from £1,000 to £3,000.
Director’s loans can be a useful way to access company funds, but if not managed properly, they can lead to unexpected tax liabilities.
For individuals and business owners looking to preserve wealth for future generations while maintaining control over their assets, Family Investment Companies (FICs) are an alternative option to trusts.
If you are thinking about selling your business, timing could be everything. Business Asset Disposal Relief (BADR), formerly known as Entrepreneurs’ Relief, helps business owners reduce their Capital Gains Tax (CGT) liability when selling qualifying assets. However, with adjustments to…
From 6 April 2025, changes to employer National Insurance Contributions (NICs) will take effect, increasing payroll costs for many businesses. If you employ staff, it is advisable to prepare now for how these changes will impact you financially. Here are…
As the end of the tax year approaches, it is a good time to review your personal tax position and ensure you are making the most of available allowances. Unlike company tax planning, which can take place throughout the year,…
Upcoming changes to Inheritance Tax (IHT) will be phased in over the next two years. With property values rising and the IHT nil-rate thresholds remaining frozen until 2030, more estates will face unexpected tax bills if they fail to plan…
If you have had career breaks, worked abroad, or earned below the National Insurance (NI) threshold, you could have gaps in your State Pension. HM Revenue & Customs (HMRC) extended the deadline for voluntary NI contributions (NIC) to 5 April…
President Trump’s tariff proposals are creating uncertainty in global markets. While the UK has not been directly targeted yet, British businesses could still feel the impact of U.S. trade policies. Trump’s latest proposal to impose reciprocal tariffs on countries with…
If you own investment property, you may be wondering whether transferring it to a limited company is a smart financial move.
It would seem fairly straightforward to point out that running a business without a plan is a bit like setting off on a road trip without a map.
With the National Minimum Wage (NMW) increasing in April 2025, are you sure you are calculating it correctly?
With significant changes to the Furnished Holiday Let (FHL) regime coming into effect in April 2025, owners of holiday rental properties face crucial decisions about their tax position and business structure.
The latest CIPD survey of over 2,000 UK employers paints a concerning picture.
If breeding and selling animals has turned into a source of income for you, you need to make sure your earnings are declared correctly to HM Revenue & Customs (HMRC). You can earn up to £1,000 annually from casual trading…