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Over one million parents have now claimed Child Benefit online or via the HMRC app, with 87% of new claims using this speedy service. If you've recently had a baby or a child joins your family, applying online ensures you get support quickly—right when you need it most.
HMRC’s Director General for Customer Services,
Can’t pay your tax bill in full by 31 January 2025? HMRC’s online Time to Pay system lets self-assessment taxpayers spread the cost over monthly instalments. With plans available for tax bills up to £30,000, this flexible option can help you avoid late payment penalties.
Those eligible for the self-serve option can arrange payments
Navigating tax obligations can be daunting for small business owners and sole traders. To make life easier, HMRC has introduced new interactive tools, including a Sole Trader Setup Guide and VAT Registration Estimator, helping businesses understand taxes step by step.
The new resources include:
Sole Trader Setup Guide: A step-by-step
Reclaiming VAT on company cars isn’t as simple as it sounds. Generally, businesses can’t recover VAT unless the car is used exclusively for business purposes. But there are exceptions—like taxis, driving schools, and commercial vehicles. Here’s what you need to know.
There are complex VAT rules that determine how much VAT can be
For companies selling shares, the Substantial Shareholdings Exemption (SSE) can mean significant tax relief. Introduced in 2002 and simplified in 2017, this exemption allows qualifying gains on share disposals to go untaxed—provided key conditions are met.
The SSE regime provides that a gain on a disposal by a company of shares (or
Navigating VAT in the construction industry can feel like untangling scaffolding. Enter the VAT reverse charge—special rules that mean sub-contractors no longer charge VAT on services but contractors handle the tax instead. Here's how it works and who it affects.
There are special VAT reverse charge rules that can apply to certain
The UK government has announced significant reforms to enhance compensation for customers affected by water service failures. Under new regulations, water companies will be mandated to increase compensation payments for issues such as supply interruptions, sewer flooding, and low water pressure.
These changes mark the first substantial
Intellectual property (IP) refers to creations of the mind, such as inventions, literary works, designs, brand names, and artistic outputs. Whether you are a business owner, inventor, writer, or entrepreneur, protecting your intellectual property is essential for several compelling reasons.
Encourages Innovation and Creativity
Protecting
A restaurant in Middlesborough recently challenged a civil penalty notice of £15,000 issued by the Secretary of State for the Home Department under Section 15 of the Immigration Asylum and Nationality Act 2006 (IANA 2006) arguing that their employee was lawfully present in the UK and that they were not given the opportunity to mitigate
Scotland’s 2024 Budget delivers on public priorities with investments in services, poverty reduction, and economic growth. Tax rates stay frozen, but bands shift to protect low incomes. A hopeful step forward for Scotland’s future!
Scotland’s Deputy First Minister and Finance Secretary, Shona Robison delivered her second Budget statement
Selling online? From 2024, digital platforms must report your information to HMRC if sales exceed £1,700 or 30 goods a year. Casual sellers are exempt, but regular traders may need to register for Self-Assessment.
New rules, which became effective from 1 January 2024, require digital platform operators in the UK to collect and verify
Scammers are on the rise as the Self-Assessment deadline nears! HMRC warns that HMRC never emails or texts about tax refunds. Stay alert, report suspicious contacts, and protect your money from fraudsters.
Fraudsters are increasingly targeting taxpayers with scam emails as the deadline for submitting self-assessment returns for the
Married couples and civil partners may be able to pass on up to £1 million of their estate tax-free with the Residence Nil Rate Band. Claiming this transferable allowance could secure your family home for future generations. Make sure your estate planning takes this into account.
The Residence Nil Rate Band (RNRB) for Inheritance Tax is
Could you save up to £1,260 in tax this year? If one of you earns less than £12,570, the Marriage Allowance lets couples transfer unused personal allowances. Don't miss out on this easy tax break!
The Marriage Allowance applies to married couples and civil partners where one partner does not pay tax or does not pay tax above the basic
From April 2024, UK businesses can access enhanced R&D tax relief through the merged RDEC and new ERIS schemes. With generous deductions and credits for R&D-intensive projects, the schemes offer tailored support to fuel innovation and drive growth.
Research and Development (R&D) tax reliefs are designed to support UK
Small businesses across the UK can now access streamlined support and advice through the newly launched Business Growth Service, designed to simplify and enhance the way SMEs engage with government resources.
Simplifying Support for SMEs
Navigating government support has often been a challenge for small and medium-sized enterprises
Starting your own business is exciting but can be overwhelming if you’re not prepared. To help you navigate the journey, we’ve compiled a list of 10 key considerations that will set you up for success. Whether you’re launching a small business or a full-fledged enterprise, these steps will guide you toward building a solid foundation for
The letters in your tax code indicate whether you are entitled to the annual tax-free personal allowance. These codes are updated each year and help employers calculate how much tax should be deducted from your salary.
For the current and upcoming tax year, the basic personal allowance is £12,570. The tax code corresponding to this
If you have lost or forgotten your National Insurance number, there are several ways to retrieve it.
You can find your National Insurance number:
On a document you already possess, such as a P60, payslip, or letters regarding benefits.
In your personal tax account.
In the HMRC app.
In your Apple or Google Wallet (if you have
The VAT Flat Rate Scheme allows businesses to pay VAT as a fixed percentage of their total turnover, which includes VAT. The applicable percentage varies based on the business type. This scheme is designed to simplify VAT accounting, thereby reducing the administrative burden associated with VAT compliance.
The scheme is open to
A new rule aimed at preventing individuals from using companies to avoid taxes through the Transfer of Assets Abroad (ToAA) provisions applies to income arising to persons abroad on and after 6 April 2024.
This change affects UK residents who own or have a financial interest in UK resident close companies or non-resident companies that
It is important to take the necessary steps to protect your land and property from fraud.
You are at a higher risk if:
Your identity has been stolen
You rent out your property
You live abroad
The property is empty
The property is not mortgaged
The property is not registered with HM Land Registry
HM Land Registry offers a free
One of the most commonly used and valuable exemptions from Capital Gains Tax (CGT) is for the sale of a family home. Generally, there is no CGT on a property that has been used as your main family residence. However, an investment property that has never been used as your main home will not qualify. This relief is known as Private
A tribunal recently ruled on the failure of a private limited company, El Recruitment Ltd., to submit its Re-DOC before the statutory deadline as required under the 'Employer Duties' of the Pensions Act 2008. The Pensions Regulator had sent two prior letters, although the company failed to do so and received a compliance notice addressed
Latest News
- Claiming Child Benefits online
19/12/2024 - More...
Over one million parents have now claimed Child Benefit online or via the HMRC app, with 87% of new claims using this
- Spreading tax payments by using Time to Pay
19/12/2024 - More...
Can’t pay your tax bill in full by 31 January 2025? HMRC’s online Time to Pay system lets self-assessment taxpayers
- New online tax tools for the self-employed
19/12/2024 - More...
Navigating tax obligations can be daunting for small business owners and sole traders. To make life easier, HMRC has
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