Expecting lower profits 2024-25 compared to 2023-24? You can ask HMRC to reduce your 31 July 25 tax payment on account. Act early to manage cash flow. Use your online account or we can handle it for you.
Self-assessment taxpayers normally pay their
Working capital refers to the day-to-day funds a business uses to manage its operations. It is the difference between current assets (such as cash, stock, and trade debtors) and current liabilities (such as trade creditors and short-term loans).
The UK government has officially concluded its involvement with NatWest Group, formerly known as the Royal Bank of Scotland (RBS), by selling its remaining shares. This move ends nearly 17 years of public ownership that began during the 2008
Employers must pay Class 1A NICs for 2024-25 benefits by 19 July (post) or 22 July (electronic). These apply to perks like company cars and private health cover—late payment risks penalties from HMRC.
Class 1A NICs are payable by employers on
Employees using company fuel for private journeys can sidestep a hefty benefit charge by repaying the full private fuel cost to their employer by 6 July 2025. Miss the deadline, and tax becomes unavoidable.
This repayment process is known as
Certain company changes—like a new registered address, email, or director—must be reported to Companies House promptly. Failure to update records risks penalties and non-compliance with UK company law.
These include the
Business Asset Rollover Relief, allows taxpayers to defer Capital Gains Tax (CGT) on gains arising from the sale or disposal of certain business assets, provided the proceeds are reinvested into new business assets. Rather than paying CGT
From 6 April 2025, non-doms face a major shift as the remittance basis is replaced by the Foreign Income and Gains (FIG) regime, now determined by UK tax residence, not domicile. Reporting obligations have expanded significantly.
Under the new
Employing family members can work well, but it does not mean you can skip the rules. HMRC expects full compliance on pay, tax, pensions, and working conditions—just as with any other employee.
When a new employee is added to the payroll it is
Before you agree to buy a business, it is essential to carry out due diligence. This means carefully checking the facts and risks so that you can make an informed decision. Here is a basic checklist to guide you through the process.
1. Review
In a landmark ruling, the Supreme Court clarified the legal interpretation of the words ‘sex’, ‘woman’ and ‘man’ in Sections 11 and 212(1) of the Equality Act (EA) 2010 with respect to gender reassignment and sexual discrimination following a
Running a business involves wearing many hats. Whether you are just starting out or looking to grow, developing the right skills can make all the difference. Here are ten practical skills that will help you manage your business with greater
Thinking of transferring your sole trader or partnership business into a limited company? Incorporation Relief can help defer any capital gains tax on assets like goodwill. If the entire business is transferred in exchange for shares, the relief
Parents of 16-19-year-olds: confirm your child’s continued education or training by 31 August 2025 to keep Child Benefit payments going. Last year, over 870,000 families updated HMRC, most online. It only takes a few minutes and helps avoid missed
From April 2025, Agricultural Property Relief from Inheritance Tax now extends to land under qualifying environmental agreements. This means landowners entering long-term stewardship schemes will not lose IHT relief. From April 2026, a new £1 million
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