The first phase for Making Tax Digital (MTD) for Income Tax is nearly upon us, as the new system of digital tax reporting commences from 6 April 2026. However, some landlords, self-employed individuals or sole traders may still wondering whether…
A new Freedom of Information requested from HMRC, released to the public has found that 5.6 million in the UK paid more tax than they needed to in 2023 Whilst headlines often focus on the UK’s tax gap – the…
We are now in that period of time between the start of the calendar year and the beginning of the tax year. All those financial chores you had to address last year will be back in front of you before…
According to the latest statistics from HMRC, more than 4,600 Self Assessment taxpayers completed and filed their tax return on Christmas Day. They were part of the 37,435 people who submitted returns between Christmas Eve and Boxing Day, as HMRC…
The Autumn Budget saw many individuals and businesses alike disheartened by measures that seemed to inhibit growth. However, just before Christmas, the Chancellor made an announcement that could offer some relief for many who were fearing upcoming Inheritance Tax (IHT)…
Peak trading periods, such as Christmas, can often bring a welcome increase in sales, but they do not always guarantee consistent cash flow. For many small businesses, periods of high activity can be followed by quieter months that place pressure…
While we would like to be in a position where every business is on the fast track to growth, there are times when things need to be pared down somewhat. Whether a decline in revenue or a restructuring has resulted…
The Chancellor’s latest Autumn Budget has struck small businesses once again with the increase to the National Living Wage (NLW) and National Minimum Wage (NMW). These reforms are a welcome boost for workers, but for small businesses, they present financial and…
The deadline for Self-Assessment taxpayers to submit their online tax return is just two months away and many self-employed individuals, sole traders and landlords will be organising their accounts. With 31 January 2026 fast approaching, there is very little time…
The Government faced a difficult job going into the Autumn Budget, as they navigate a growing national deficit, a seemingly never-ending cost-of-living crisis and political challenges. From the outset, the Chancellor Rachel Reeves made it clear that this would be an Autumn Budget that focused on fairness,…
