It is important to understand both when VAT registration is required and the ongoing obligations that follow. The VAT registration threshold is currently £90,000 of taxable turnover, although businesses below this level can choose to register
There are a variety of services available to assist UK exporters that can be found at https://www.business.gov.uk/export-from-uk/
There you can find a range of government-backed tools and support to help businesses begin or expand their export
Stock turnover management is one of the most important drivers of business profitability, cash flow strength and resilience during periods of rising costs. Stock represents cash that has been converted into goods, and if those goods are not sold
Many businesses have spare capacity that could generate additional income with relatively little additional cost. Spare capacity may arise where premises, staff time, equipment or intellectual property are not fully utilised throughout the working
When a new employee joins your payroll, it is the employer’s responsibility to ensure they are aware of their rights and that the correct tax is deducted from their salary. This responsibility also applies when employing young people in your
If you have not yet checked whether you need to use Making Tax Digital (MTD) for Income Tax, now is the time to urgently see if you are affected. The Income Tax reporting requirements for some self-employed individuals and landlords will change
The 7-year gift rule is still an available option for those making lifetime gifts, offering a way to potentially reduce Inheritance Tax (IHT) liability. Most gifts made during a person’s lifetime are not immediately subject to tax. These transfers,
The VAT treatment of car leasing is an important consideration for businesses that incurs VAT on these costs. In general, leasing companies are able to recover the VAT incurred on the purchase of cars, provided the vehicles are leased out at a
The Marriage Allowance applies to married couples and civil partners where one partner does not pay Income Tax, usually because their income is below the personal allowance. For the 2025–26 tax year, this means the lower-earning partner must earn
Rolling over capital gains can be an effective way for business owners to defer Capital Gains Tax (CGT) when selling or disposing of certain business assets. This is done using Business Asset Rollover Relief which allows taxpayers to postpone the tax
Cash flow remains one of the most significant challenges facing small businesses in the UK. Even profitable businesses can encounter difficulties if income is received later than expected or costs increase unexpectedly. The timing of cash movements
Tensions in the Middle East have increased concerns about potential disruption to global oil supplies. Even where physical shortages do not arise, uncertainty can still push up fuel prices and increase operating costs for UK businesses. Planning
A dividend is a distribution of a company’s profits to its shareholders. Companies may pay dividends in cash or additional shares, giving investors a share of the business’s earnings. Dividends are a common way for shareholders to earn income from
As a general rule, someone who inherits property, money or shares is not liable to pay tax on the inheritance itself. This is because any Inheritance Tax (IHT) due is normally paid out of the deceased’s estate before assets are distributed to
The Rent a Room Scheme is a set of special rules designed to help homeowners who rent out a room in their home, creating a potentially valuable tax-free income stream. Under the scheme, rent received from lodgers during the tax year is tax-free up to
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