17-03-2025
Business Advice: An Investment, Not a Cost
Flexible planning is essential for adapting to uncertainty, responding to challenges, and seizing new opportunities. The world is unpredictable, and rigid plans can quickly become outdated. Whether in Read more..
17-03-2025
Why Adequate Business Insurance is Essential for Small Businesses
For small business owners, especially those operating as sole traders or in partnerships without limited liability, having adequate business insurance is not just a safeguard—it’s a necessity. Read more..
13-03-2025
Government backed Start-Up Loans
The Government-backed Start-Up Loans scheme offers unsecured loans of £500 to £25,000 per person (up to £100,000 per business) to help entrepreneurs grow. With a fixed 6% interest rate and mentoring Read more..
13-03-2025
Child Benefits for over 16s
From April 2025, Child Benefit increases to £26.05 for the eldest child and £17.25 for others. Payments stop after a child turns 16 unless they continue in approved education or training. Parents must Read more..
13-03-2025
How VAT Payments on Account Work
Businesses owing over £2.3 million in VAT annually must make advance payments on account. These are based on the previous year’s VAT liability and paid in instalments. Late payments incur penalties, Read more..
13-03-2025
Tax and Maintenance Payments
Maintenance Payments Relief reduces Income Tax for those making court-ordered payments to an ex-spouse or civil partner. To qualify, one party must have been born before 6 April 1935. The relief is Read more..
13-03-2025
Self-Employed National Insurance Contributions
Self-employed individuals earning £12,570 or more annually must pay Class 4 National Insurance Contributions (NICs). For 2024-25, rates are 6% on profits up to £50,270 and 2% above this. Certain Read more..
13-03-2025
Group relief for trading losses
Group relief helps reduce the overall Corporation Tax of a group of companies by allowing them to share losses. For example, if a parent company has profits of £1,000 and its subsidiary has losses of Read more..
12-03-2025
Beware of rushing to judgement before terminating employment.
A Tribunal has ruled that a deputy security manager was unfairly dismissed, despite performing “no prescribed tasks” while ‘working from home’, many hundreds of miles from his place of Read more..
10-03-2025
Why flexible planning is advisable
Flexible planning is essential for adapting to uncertainty, responding to challenges, and seizing new opportunities. The world is unpredictable, and rigid plans can quickly become outdated. Whether in Read more..
10-03-2025
Changes to online filing of accounts at Companies House
The Online Accounts and Company Tax Return (CATO) service is scheduled to close on 31 March 2026.
This service has enabled businesses to file their company accounts and tax returns simultaneously Read more..
07-03-2025
Tax Diary April/May 2025
1 April 2025 - Due date for corporation tax due for the year ended 30 June 2024.
19 April 2025 - PAYE and NIC deductions due for month ended 5 April 2025. (If you pay your tax electronically the due Read more..
06-03-2025
Making a negligible value claim with HMRC
A negligible value claim lets taxpayers declare an asset worthless for tax purposes, realising a capital loss without selling. This can be backdated up to two years, offering flexibility in managing Read more..
06-03-2025
More tax on business disposals from April 25
From April 2025, the Capital Gains Tax rate on Business Asset Disposal Relief rises from 10% to 14%, increasing to 18% in 2026. Business owners planning to sell may benefit from acting before these Read more..
06-03-2025
Letting out part of your home – claiming lettings relief
Renting out part of your home may affect Capital Gains Tax when you sell. While Private Residence Relief applies, Letting Relief can reduce taxable gains. Learn how PRR, Letting Relief, and exemptions Read more..