Making gifts during your lifetime can be an effective way to reduce the value of your estate for Inheritance Tax (IHT) purposes.
One of the most commonly used exemptions is the annual exemption. This allows an individual to give away up to £3,000
The tax treatment of termination payments is governed by a detailed set of rules that determine how much is taxable and whether National Insurance contributions apply. The structure of a termination package can have a significant impact on the final
Your UK residence status affects how much tax you pay in the UK and, in particular, whether your foreign income and gains are subject to UK tax.
In simple terms, UK residents are normally taxed on their worldwide income and gains, while
Depending on your income and circumstances, you may need to register for self-assessment. This may be the case even if most of your income is taxed through PAYE.
You will usually need to file a self-assessment tax return if you are self-employed as
Many small business owners are already feeling the effects of rising staffing costs, tighter recruitment conditions and increased administration. Recent employment law changes are now adding further pressure, particularly for employers that do not
Cyber security is no longer a concern limited to large corporations. Increasingly, smaller businesses are finding themselves targeted by phishing attacks, payment frauds and ransomware incidents, many of which are becoming more sophisticated through
The Marriage Allowance lets you transfer £1,260 of your Personal Allowance to your husband, wife or civil partner. Your Personal Allowance is the amount you can earn before paying Income Tax (£12,570 for the 2026-27 tax year). This transfer can
How capital gains are linked with Income Tax is important to understand as your overall income position affects the Capital Gains Tax (CGT) rate you pay.
CGT interacts directly with your Income Tax band. Your taxable income is first calculated after
Dividends are taxed differently from other types of income, with separate allowances and tax rates that depend on your overall level of income. You do not pay tax on dividends that fall within your Personal Allowance (2026-27: £12,570), and there is
1 June 2026 – Due date for corporation tax due for the year ended 31 August 2025.
19 June 2026 – PAYE and NIC deductions due for month ended 5 June 2026. (If you pay your tax electronically the due date is 22 June 2026).
19 June 2026 – Filing
National Insurance contributions that relate to employee benefits are known as Class 1A National Insurance contributions. Employers must pay these National Insurance contributions on most work-related benefits provided to employees, such as a company
Many taxpayers are surprised to learn that once their income exceeds £100,000, they can face an effective tax rate of 60%, although officially, no such rate appears to exist. This happens when the personal allowance (currently £12,570) is gradually
Most self-employed people are required to pay Class 4 National Insurance contributions (NICs). Class 4 NICs are payable if their profits are £12,570 or more a year.
Class 4 NIC rates are currently 6% for chargeable profits between £12,570 and
A pivotal ruling has raised a protective umbrella over those impacted by a toxic workplace environment, potentially extending employers’ legal liability by months or even years.
An Employment Tribunal had to decide whether the employers of a
There has been considerable discussion over the past year about whether small companies would be required to file profit and loss accounts at Companies House. Many practitioners will be aware that proposals were introduced under the Economic Crime
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