The deadline for reporting shares and securities and share options issued to employees for 2024/25 is 6 July 2025. This is the same as the deadline for reporting expenses and benefits provided to employees on form P11D for 2024/25. Employers must submit their employment-related securities annual returns online and attach the appropriate spreadsheet template if […]
HMRC have published Tax Avoidance Spotlight 70 ‘VAT grouping structure arrangements used by care providers’, highlighting tax avoidance arrangements used by state-regulated care providers to reclaim VAT. The VAT legislation exempts supplies of welfare services where they are made by either a charity or a state-regulated care provider. The impact for the charity or state-regulated care provider is […]
The table below sets out the HMRC advisory fuel rates from 1 June 2025. These are the suggested reimbursement rates for employees’ private mileage using their company car. Where the employer does not pay for any fuel for the company car these are the amounts that can be reimbursed in respect of business journeys without […]
Date What’s Due 1 June Corporation Tax for year to 31/08/2024, unless quarterly instalments apply 19 June PAYE & NIC deductions, and CIS return and tax, for month to 05/06/2025 (due 22/06 if you pay electronically) 1 July Corporation Tax for year to 30/09/2024, unless quarterly instalments apply 5 July Last date for agreeing PAYE […]
While the Bank of England (BOE) has started cutting the base rate in recent times, mortgage pricing remains mixed. While the base rate dropped by 0.5 percentage points between October 2024 and March 2025, average fixed mortgage rates initially climbed. However, recent market changes have seen sub-four per cent deals return for some borrowers, driven […]
Half of UK adults are unclear on how the state pension works, according to Standard Life’s Retirement Voice report. Nearly one-third of those closest to retirement (aged 55 to 64) are still in the dark. If you do not know how much you will receive or when payments will start, it could cost you. Do […]
President Donald Trump’s second term has ushered in a wave of protectionist trade policies, including sweeping tariffs that have rattled global markets. Since January 2025, the average US tariff rate has surged from 2.5 per cent to 27 per cent – the highest in over a century. Tariffs on Chinese imports have reached 145 per […]
Surrey-based accountancy firm TWP Accountants is raising concerns over a widespread lack of awareness around Making Tax Digital (MTD), with key deadlines now less than a year away. From April 2026, self-employed individuals and landlords with an annual income exceeding £50,000 will be required to maintain digital records and submit quarterly updates to HMRC via […]
Capital allowances allow businesses to claim tax relief on money invested in assets like machinery, equipment, or certain vehicles used commercially. There are a variety of capital allowances available, including: Full Expensing Annual Investment Allowance (AIA) Writing-Down Allowances (WDA) The allowance that your business is eligible for depends on what you buy, how much you […]
Business owners who pay themselves through a combination of salary and dividends should revisit their remuneration strategy this tax year. With Income Tax thresholds frozen until 2028 and a lower dividend allowance rate of £500, a strategy that once worked may now cost more than it saves. How should you be paid as a director? […]
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