Reclaiming VAT on taxi and ride-hailing fares
Changes announced in the Autumn Budget have removed the use of a niche VAT scheme known as the Tour Operators Margin Scheme (TOMS) for private hire vehicle operators from January 2026. TOMS was
How bonuses are taxed
Bonuses are treated as taxable earnings, so both employers and employees need to understand how they are taxed and reported. For cash bonuses (including vouchers that can be exchanged for cash), the
New legal duty for landlords under the renters’ rights act
Landlords must now comply with an important new legal requirement introduced under the Renters’ Rights Act, which brings significant reform to the private rented sector in England. The government has
Cash flow resilience in uncertain trading conditions
Rising costs and economic uncertainty have made cash flow management more important than ever. While many businesses focus on profit, it is cash that determines whether a business can meet its day to
Beware Winter Fuel Payment scams
Pensioners are being urged to stay vigilant for any Winter Fuel Payment scams. HMRC is starting to recover Winter Fuel Payments issued for winter 2025 from those earning over £35,000 a year. While the
Pay back private fuel costs and avoid tax charge
Employees who receive fuel from their employer for private use in a company car can avoid paying the car fuel benefit charge by reimbursing the full cost of the private fuel. This process, known as
When is CGT payable on gains during 2026-27
For most capital gains realised in the 2026-27 tax year, Capital Gains Tax (CGT) is reported and paid by 31 January 2028 via the self-assessment system. This applies to gains on assets such as shares,
What is the Annual Investment Allowance?
The Annual Investment Allowance (AIA) is a valuable tax relief that allows businesses to deduct the full cost of qualifying plant and machinery from their taxable profits. This means that, instead of
Who pays Income Tax at Scottish rates?
The rules as to who pays Income Tax in Scotland is determined by whether an individual is considered a Scottish taxpayer or not. For most people, determining Scottish taxpayer status is
Filing your 2025-26 self-assessment tax return
The 2025-26 tax year ended on 5 April 2026, and attention now turns to filing your self-assessment tax return. While many leave this until the last minute, there are advantages to filing early. There