Receiving a Kittel VAT notice is something that many businesses dread. HM Revenue and Customs (HMRC) can demand the repayment of tax already reclaimed, and this can sometimes amount to a significant amount of money. The notice comes when a…
Public borrowing hit £20.5 billion in April, the highest level for that month since 1993 and nearly £3 billion above forecast. Economists warn the Chancellor may have little choice but to plug the gap with tax rises, spending cuts or…
The Government’s decision to halve Business Property Relief (BPR) and Agricultural Property Relief (APR) from April 2026 is already changing how family businesses and farms operate.
The International Monetary Fund (IMF) has upgraded the UK’s 2025 GDP growth forecast to 1.2 per cent, citing a strong first-quarter performance and signs of a recovering economy. The official figures indicate that increases in customer spending and business investment…
On 8 April 2025, Companies House introduced identity verification for those who make filings on behalf of a business. It is currently a voluntary process, but will become mandatory for new businesses by the end of the year and mandatory…
How much State Pension you get depends on your National Insurance (NI) record when you reach the State Pension age. Gaps in your NI record could affect how much you receive. Unfortunately, too many sole traders are still missing out…
It is not uncommon for directors of a company to take loans from the business during each financial year, often to cover unexpected bills. However, you must keep track of any directors’ loans – money withdrawn from the company that…
Making Tax Digital (MTD) is the Government’s initiative designed to streamline and digitise tax reporting in the UK. While the MTD scheme has been in force for the past few years, changes are approaching, particularly for sole traders, self-employed individuals,…
Businesses in the UK are facing increasing financial strain, with new data from HM Revenue & Customs (HMRC) showing that tax arrears have hit £28 billion per month on average across the first quarter of 2025.
Many businesses routinely offer financial support to their directors or employees in the form of loans.
With less than a year to go before Making Tax Digital for Income Tax (MTD for IT) becomes mandatory for sole traders and landlords earning over £50,000, it is important to start preparing.
When it comes to Statutory Sick Pay (SSP), most payroll teams are confident in calculating payments for a single period of absence.
This week is Mental Health Awareness Week, and an important opportunity to reflect on how we manage wellbeing in the workplace.
Most directors do not expect to face personal tax bills in the millions.
From 1 May 2025, HM Revenue & Customs (HMRC) reduced its road fuel scale charges, reflecting a drop in fuel prices.