Submitting your Self-Assessment tax return at the start of this tax year is a great way to manage your tax bill effectively. The earlier you file a return, the sooner you will find out how much tax you owe. This…
The new financial year will see many of the proposed changes announced in the Autumn Budget enacted, impacting businesses across the country. These changes will have business owners planning their tax strategy for the 2025/26 tax year, and a key…
From 6 April 2025, many directors will need to report dividend income in much more detail in their Self-Assessment tax return. This change will affect an estimated 900,000 directors across the UK. HM Revenue & Customs (HMRC) will now require…
1 April 2025 signalled the first wave of payroll changes for businesses to contend with this year, including the increase to the National Living Wage (NLW) and National Minimum Wage (NMW).
This week’s Spring Statement brought two announcements that will matter to anyone running their own business or earning income from property.
The end of the tax year is fast approaching, and if you are considering making personal pension contributions, it is important to plan ahead to avoid missing the deadline.
HM Revenue & Customs (HMRC) has intensified its efforts to track down unpaid Capital Gains Tax (CGT), with recent figures showing an increase in compliance activity.
Inheritance Tax (IHT) remains a concern for many individuals seeking to preserve family wealth across generations.
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,…