Tax relief on professional subscriptions
Employees may be entitled to tax relief on certain professional fees and subscriptions that they pay personally. The relief is available where membership of a professional body is required for an
Investment Manager Exemption (IME)
The Investment Manager Exemption (IME) is a long-standing HMRC concession that helps attract international investment in the UK. It allows overseas investors to appoint UK-based investment managers
Companies House steps up enforcement activity
Companies House is entering a new era of enforcement as it begins making greater use of the powers granted under the Economic Crime and Corporate Transparency Act. The aim is to improve the accuracy
The benefits of Fair Payment Code accreditation
Getting paid on time remains one of the biggest challenges facing many small and medium-sized businesses. Late payments can place pressure on cash flow, increase borrowing requirements and divert
Capital Gains Tax if selling shares or investments
Capital Gains Tax (CGT) is a tax on the profit you make when you sell or dispose of an asset that has increased in value. It is the gain itself that is taxed, not the total amount you receive. For
Understanding your National Insurance record
Your National Insurance record can be checked online to see what contributions and credits you have built up and whether you have any gaps that may affect your State Pension. The record shows how
Tax-free benefits in kind from your employer
The range of benefits that can be provided tax-free by an employer is relatively limited, but there are several common exemptions that apply where certain conditions are met. Meals provided in a
Claiming tax relief on charitable donations
When you donate money to a charity or Community Amateur Sports Club (CASC) under Gift Aid, the organisation can claim an extra 25p from HMRC for every £1 you give. This increases the value of your
Understanding your tax code
Your tax code tells your employer or pension provider how much Income Tax to deduct from your pay. It is set by HMRC, and you may have a different code for each job or pension. Most people with one
Salaried members of LLPs
Members of a Limited Liability Partnership (LLP) are normally treated as self-employed for tax purposes. However, special rules can apply where a member's terms of membership are more akin to the
The corporate manual, not time and motion studies, defines employment roles
Equal pay claims can grind on for years before resolution. However, the ground has shifted since the Court of Appeal (CoA) took Tesco’s own operating and training manual as the definitive source on
Could exporting help your business grow?
Many small business owners assume that exporting is something reserved for larger companies with dedicated sales teams and substantial resources. In reality, advances in technology, online
Profit and loss accounts to be filed from April 2028
The Government has confirmed that important changes to Companies House filing requirements will now take effect from April 2028 (rather than April 2027), giving small companies and micro-entities
Further registration for Making Tax Digital
Making Tax Digital (MTD) for Income Tax is being rolled out in stages for sole traders and landlords who complete self-assessment returns. Liability to register depends on the level of
Who is liable to pay ATED?
The Annual Tax on Enveloped Dwellings (ATED) is a charge that applies to certain high-value residential properties held by non-natural persons (NNPs). It is designed to ensure that residential
Self-assessment tax penalties
If you are required to complete a self-assessment tax return, HMRC may charge penalties if you miss the deadline for making a filing or payment. There are also penalties if you fail to register on
Can you claim R & D relief?
Research and Development (R&D) tax relief is designed to support companies that invest in innovation and seek to make advances in science or technology. The scheme offers businesses the ability to
When to consider voluntary National Insurance
Many people are unaware that gaps in their National Insurance (NI) record can affect their entitlement to the State Pension and certain state benefits. In some cases, it may be worthwhile to consider
Tax when selling overseas property
UK residents are generally liable to Capital Gains Tax (CGT) when they dispose of overseas property at a gain. A disposal includes selling, gifting, or otherwise transferring ownership of a property
Government Backing your Business programme
The government continues to place growing emphasis on supporting smaller businesses through its “Backing Your Business” programme, which is designed to encourage growth, investment and
Companies House ID verification
Major changes are continuing at Companies House as part of the government's efforts to improve corporate transparency and tackle economic crime. One of the most significant developments is the