If you are a sole trader or small business owner using a double cab pickup (DCPU) for your work, now is the time to consider your options. The Budget revealed a tax change for DCPUs that could have significant financial implications for both you and your business. Whether you are looking to expand your fleet […]
Directors have the ability to draw income from a business in several ways, including through the extraction of profits from the business, which can create significant opportunities to manage tax liabilities. Key tax rates and allowances for 2025/26 Here is what directors in England, Wales, and Northern Ireland need to keep in mind for the new tax […]
Sometimes, paying your tax bill on time can be difficult when costs are high. If you miss a payment deadline or think you will miss one because you are unable to pay your tax bill, you must contact HM Revenue & Customs (HMRC) as soon as possible. You may have the option to set up […]
Claiming allowable expenses when calculating taxable profit as a self-employed business owner is an important step in preparing your tax return. It will ensure you are not paying more tax than you need to and help mitigate some of the costs of running your business. If you work from an office or use one in […]
If you are looking to plan your exit from your business, whether for retirement or to start your next venture, we know you want to achieve this as tax-efficiently as possible. Employee Ownership Trusts (EOTs) are an increasingly popular way for business owners to exit while securing the future of their company and employees – […]
The announcement in the Autumn Budget about restrictions to inheritance tax (IHT) agricultural and business property relief from April 2026 has upset farming businesses in particular, resulting in a demonstration in London on 19th November. From 6 April 2026, it is proposed that 100% relief will only apply to the first £1 million of combined […]
The current tax rules encourage farmers and other business owners to hold on to their business until death, when the assets then pass to the next generation at market (probate) value for capital gains tax (CGT). This is effectively a tax-free uplift of the value of the business, and combined with 100% APR and BPR, […]
HMRC have developed an app that can help people prepare for their retirement. Individuals can use the app to check their State Pension Forecast, allowing them to: see their State Pension age; view their forecast State Pension amounts based on potential contributions; and view how much their State Pension would currently be worth, based on […]
Some employers need to pay their employees earlier than usual in December. This can be for several reasons, such as businesses closing during the festive period and needing to pay workers earlier than normal. As in earlier years HMRC have announced that they have relaxed the RTI (Real Time Information) reporting obligations. If you do […]
Employers should note that certain gifts to staff at Christmas are tax free if structured correctly. Employers are allowed to provide their directors and employees with certain “trivial” benefits in kind tax free. This exemption applies to small gifts to staff at Christmas where the cost to the employer is no more than £50, this […]
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