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 “qualifying income”, which includes income from
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 located outside the UK.
CGT is chargeable on the
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 making voluntary NI contributions to fill these
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 invest in new technologies and scientific
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 time for self-assessment. If you register late and
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 properties held through corporate or similar structures
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 introduction of compulsory identity verification for
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 long term resilience across the UK business
1 July 2026 – Due date for corporation tax due for the year ended 30 September 2025.
6 July 2026 – Complete and submit forms P11D return of benefits and expenses and P11D(b) return of Class 1A NICs for 2025-26.
19 July 2026 – Pay Class 1A NICs for
Pensions remain one of the most tax-efficient ways to save for retirement, due to a range of tax reliefs and allowances that can help boost retirement savings.
One of the key advantages of private pension contributions is the availability of tax
Families claiming Child Benefit should be aware of the High Income Child Benefit Charge (HICBC), which can apply when one member of the household has a higher income.
The charge applies where an individual has adjusted net income of more than
A reminder that the tax rules for how online platforms report seller information to HMRC changed on 1 January 2024. Digital platforms such as eBay, Vinted and Airbnb are required to collect and verify certain details about users who sell goods or
Many married couples and civil partners could be missing out on valuable tax savings available by claiming the Marriage Allowance. If your circumstances are suitable, this is a reminder to consider the Marriage Allowance, as a simple claim could
If you are self-employed, claiming all of your allowable business expenses can significantly reduce your tax bill. For example, if your business turnover is £40,000 and you have £10,000 of allowable expenses, you will only pay tax on your taxable
If you receive income from renting out property, it is important to understand your tax obligations and the reliefs that may be available. Rental income is generally taxable, although landlords can deduct certain allowable expenses before calculating
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