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 Government estimates that new obligations placed on employers under the Employment Rights Bill could result in substantial compliance costs – totalling around £5 billion. The Bill will introduce a ban on many zero-hour contracts and extend day one employment rights across several areas, such as protection from unfair dismissal and parental leave. For employers, […]

In this year’s Autumn Budget, Chancellor Rachel Reeves announced that the majority of unspent pension funds will form part of an estate from April 2027 This move is expected to affect around eight per cent of estates each year. In practice, this means when an individual dies, they will still be able to pass on […]

Recent research by Three Business indicates that tech-enabled SMEs could add an impressive £79 billion to the UK economy over the next year. Technology is clearly a key driver and enabler of growth for businesses. Despite this, their research also revealed a notable 42 per cent of SMEs worry that the complexities of adopting new […]

As we approach the end of the year, one trend has become increasingly concerning for UK businesses – debts are on the rise. According to a recent report, small to medium-sized enterprises (SMEs) have seen the value of bad debt surge by 127 per cent over the past six months. This figure is alarmingly high, […]

In Chancellor Rachel Reeves’ 2024 Autumn Budget, she announced over £40 billion of tax increases, as the Government attempts to fill a £22 billion gap in public finances. The headline measure was a rise in employer National Insurance Contributions (NICs), from 13.8 per cent (where applicable) to 15 per cent. The Chancellor also reduced the […]

Capital Gains Tax (CGT) was a significant target for the Chancellor in the Autumn Budget – with an immediate rise put in place for both the basic and higher rate of CGT. The basic rate paid by basic rate taxpayers rose immediately to 18 per cent – up from 10 per cent. Meanwhile, the higher […]