News

What is the advance tax certainty service?

From April 2026, Making Tax Digital for Income Tax (MTD for IT) will become mandatory for many self-employed persons and landlords, marking a significant change in how they manage their tax affairs. The new regime is designed to modernise the tax system by requiring taxpayers to interact with HMRC through an online tax account, rather

Creative Industry Corporation Tax reliefs

If your business is planning a major UK investment, HMRC’s new advance tax certainty service could give you binding clarity on the tax position before you commit. HMRC has recently published draft guidance on the new advance tax certainty service as part of the government’s Corporate Tax Roadmap at the Autumn Budget 2024, where the

Expenses for the self-employed

If your business works in film, TV, games or the arts, Creative Industry Tax Reliefs could reduce your Corporation Tax bill and may even generate a payable tax credit. Creative Industry Tax Reliefs (CITR) are a range of UK Corporation Tax reliefs designed to support companies operating in the creative sector. The reliefs allow qualifying

Pre-trading expenditure for companies

If you are self-employed, knowing which everyday costs you can legitimately claim can make a real difference to how much tax you end up paying. The question of which costs you can claim against your self-employed business is a common one. If you are self-employed it is important to be aware if an expense is allowable or not. Any

Company information in the public domain

Starting a new business can be expensive, but many of your pre-trading costs may qualify for tax relief if they meet the right conditions. There are special tax reliefs for pre-trading expenses that are incurred before a business starts trading. This could include expenses that are required to help a business prepare for trading such as

Company liquidations and insolvencies are still elevated

Did you know you can monitor any UK company for free and get email alerts when key details change, which can help protect your own business from unexpected or unauthorised filings? A significant amount of information about companies is available in the public domain from Companies House. Companies House is responsible for incorporating

12/01/2026 More...

The Insolvency Service data for England and Wales shows monthly company insolvencies remain high by historical standards, even though they move up and down month to month. For example, November 2025 recorded 1,866 registered company insolvencies, down on October 2025 and also below the same month a year earlier. The wider context matters,

Pre-tax year end planning

12/01/2026 More...

Pre-tax year end planning is one of the most practical and controllable ways for UK businesses and higher rate taxpayers to reduce unnecessary tax exposure. Unlike long term restructuring, it focuses on decisions that can still be influenced before 5 April or, for companies, before the accounting year end. When done properly, it is not

The scope of the trivial benefits legislation

New First Year Allowance from 1 January 2026

The trivial benefits legislation provides a simple and practical tax exemption that allows employers to give small non-cash benefits to employees without triggering tax or National Insurance charges. To qualify as a trivial benefit, the cost to the employer must not exceed £50 per item. The benefit must not be cash or a cash voucher and

Changes to Agricultural and Business Property Relief reforms

The new 40% First Year Allowance (FYA) for qualifying main-rate plant and machinery expenditure first announced at Autumn Budget 2025 has now come into force. Effective from 1 January 2026, the new FYA applies to qualifying main-rate plant and machinery expenditure. It was also announced at the recent Autumn Budget 2025 that the main

Did you file your tax return over the festive period?

The government recently announced significant changes to the planned reforms to Agricultural Property Relief (APR) and Business Property Relief (BPR). The threshold for 100% relief will be increased from £1 million to £2.5 million when the changes take effect from 6 April 2026. The change will be introduced via an amendment to the Finance

Company car expenses and benefits – what’s exempt?

HMRC’s figures show thousands of taxpayers are filing over the festive period, but leaving your return until late January risks penalties, stress and avoidable payment problems. A new press release by HMRC has highlighted that 4,606 taxpayers took the time to file their tax return online on Christmas Day with a further 10,479 taxpayers

Starting or changing jobs

While company cars often come with tax implications, there are specific situations where the associated benefits may be exempt. There are circumstances where it can be possible to offer employees car benefits that are exempt from tax. Exempt expenses and benefits include the following: Business-only use: This rule has been the subject

Check a UK VAT number is authentic

Providing the right information when you start a new job helps ensure your tax code is correct from the first pay day and avoids the risk of paying too much tax. When starting a new job or taking on additional employment, your new employer will usually send your income details to HMRC, which are used to calculate your tax code. If this

Suing whistleblowers for a breach of confidence is not a viable strategy

Verifying a VAT number before reclaiming VAT can protect your business from rejected claims, repayments, and unnecessary penalties.The online service for checking a UK VAT number is available at www.gov.uk/check-uk-vat-number. This online tool allows businesses and individuals to verify the legitimacy of a UK VAT registration number,

07/01/2026 More...

The Court of Appeal has ruled that the initiation of legal or arbitral proceedings by an employer against a ‘whistleblower’ who has made a protected disclosure constitutes an actionable detriment under the Employment Rights Act (ERA) 1996, effectively overriding the defence of Judicial Proceedings Immunity, or JPI. In November 2021, the

Learning from mistakes in business

05/01/2026 More...

Making mistakes in business is unavoidable. No matter how experienced or careful someone is, decisions are made with imperfect information, time pressure and changing conditions. What separates resilient businesses from those that struggle is not the absence of mistakes, but the ability to learn from them and adapt. The first step is

Saving to pay tax

05/01/2026 More...

For many individuals and business owners, paying tax is one of the largest regular financial commitments they face. Yet tax bills often arrive as a shock, not because the amounts are unexpected, but because the funds have not been set aside in advance. Developing a disciplined approach to saving for tax can remove stress, protect cash

Bank of England delivers narrow vote rate cut

Are you ready for Making Tax Digital for Income Tax?

The Bank of England’s Monetary Policy Committee (MPC) last met on 18 December and, in a narrow 5-4 vote, decided to reduce the interest rate by 25 basis points, bringing it down to 3.75%. All four dissenting members voted to keep the rate at 4%. This marks the sixth interest rate reduction since August 2024. Inflation continues to fall,

Payroll annual reporting obligations

Are you ready for Making Tax Digital for Income Tax (MTD for IT)? This new way of reporting will become mandatory in phases from April 2026. If you are self-employed or a landlord earning over £50,000, now is the time to prepare for digital record keeping, quarterly updates and the new penalty system that will apply under MTD for IT. The

VAT Annual Accounting – filing your return

As we move into the start of 2026, it is not that long until the current 2025-26 tax year comes to an end and there are a number of payroll annual reporting obligations that must be completed. This includes sending a final PAYE submission for the tax year. The final Full Payment Submission (FPS) needs to be submitted on or before your

Nominating a property as your home

For eligible businesses, the VAT Annual Accounting Scheme can reduce paperwork, smooth cash flow and replace quarterly returns with a single annual submission. The VAT Annual Accounting Scheme is open to most businesses with a taxable turnover of up to £1.35 million per year. Businesses using the scheme are required to submit one VAT