The impact of frozen personal allowances often leads to fiscal drag, a situation where individuals pay more tax as their earnings rise without a corresponding increase in allowances.
This occurs because tax thresholds remain fixed while wages
Since 6 April 2025, the remittance basis of taxation for non-UK domiciled individuals (non-doms) has been replaced by the Foreign Income and Gains (FIG) regime. This shift marks a significant change, as the new FIG regime is based on tax residence
As of April 2025, more employers can claim the increased £10,500 Employment Allowance thanks to relaxed eligibility rules. This increase will help employers reduce some of the impact of the recent increases in employers’ NIC.
The Employment
Capital Gains Tax on certain residential property sales must be reported and paid within 60 days to avoid penalties and interest.
The annual exempt amount applicable to Capital Gains Tax (CGT) is currently £3,000. CGT is normally charged at a simple
1 August 2025 – Due date for corporation tax due for the year ended 31 October 2024.
19 August 2025 – PAYE and NIC deductions due for month ended 5 August 2025 (If you pay your tax electronically the due date is 22 August 2025)
19 August 2025 –
A Tribunal has provided a landmark ruling over employer-employee status in the context of direct payments made under the Care Act 2014, ruling that an LA was not in fact the direct employer of a carer. The appeal revolved around the question of
As we look ahead to the Autumn Budget 2025, it is clear that the Chancellor, Rachel Reeves, will be under pressure to balance public expectations with fiscal reality. A combination of reduced growth forecasts, increased borrowing costs, and the
Starting and growing a business is an exciting and demanding challenge. It is easy to focus all your energy on immediate goals like winning customers, generating income, and keeping cash flow under control. But at some point, every business owner
You may need to submit tax returns for someone who has died. As the personal representative, you are legally responsible for reporting income earned before and after death.
This person, known as the ‘personal representative’, is legally responsible
Side income over £1,000 may mean filing a tax return. HMRC is urging part-time earners to check their tax position for 2024-25, especially if they earn from casual work, renting, or crypto.
If you are earning extra income it is important to be aware
You must tell HMRC if you no longer need to file a tax return. Whether you have stopped trading or no longer rent out property, notifying HMRC early avoids penalties and keeps your records up to date.
If your circumstances have changed and you
Registering for payroll is essential when hiring staff. From HMRC registration to legal compliance, getting payroll processes right ensures your team is paid correctly and your business avoids penalties.
When starting a business and hiring employees
Where you live determines if you pay Scottish Income Tax. The rules are not based on where you work, who pays you, or national identity, but on your main UK home during the tax year.
The definition of a Scottish taxpayer is generally linked to the
Your pension scheme type affects your tax relief. Workplace pensions offer tax benefits, but the method used, net pay or relief at source, changes how and when you get them. Your employer or pension provider should confirm which arrangement your
Artificial intelligence (AI) is no longer something for big tech firms alone – it is becoming a practical tool for small businesses, especially when it comes to financial management and forecasting.
We can now harness AI tools to speed up data
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