State Benefits – What is taxable and what is not
Not all state benefits are tax-free! Some, like the State Pension and Carer’s Allowance, are taxable, while others, like PIP and Universal Credit, are not. Knowing the difference
Is income from hobbies taxable?
Not every money-making hobby counts as a business for tax purposes. Knowing when a hobby crosses into trading territory is vital to avoid unexpected tax bills. If your side project
Tax relief if required to work from home
If employees must work from home and their employer does not reimburse certain costs, they may be entitled to claim tax relief. Understanding the rules for household expenses,
Tax refunds for dissolved companies
Dissolving a company ends its legal existence — but unresolved assets become property of the Crown under bona vacantia. Directors must act carefully to settle assets and
Tax treatment of income after cessation
After a business closes, income can still arise. Post-cessation receipts must be properly reported and taxed under specific rules. Knowing what qualifies — and what does not
Definition of R&D for tax purposes
When claiming tax relief or capital allowances on R&D, it’s crucial to ensure activities meet strict statutory definitions. Understanding Section 437 ITA and DTI guidelines is
Access to Funding and Credit
For many small business owners, getting access to funding feels like trying to squeeze water from a stone. Traditional banks have always been a bit cautious when it comes to
Cybersecurity
Cybersecurity might sound like something only big corporations need to worry about, but in truth, small businesses are increasingly in the firing line. In fact, many cyber
More in line for savings boost
From April 2025, more low-income workers on Universal Credit can join Help to Save. Save up to £50/month and get a 50% bonus - up to £1,200 over 4 years. A simple way to build your
Have you set up your Personal Tax Account yet?
Skip the phone queues. Your Personal Tax Account lets you manage everything from tax codes to refunds online. Quick, secure, and all in one place. If you haven’t signed up yet,
Less than a year before MTD for Income Tax starts
MTD for Income Tax kicks off in April 2026 for those earning over £50k. Digital records, quarterly updates, and tougher penalties are on the way. If this affects you, it’s time to
Reminder of Employer NIC changes from April 25
A reminder that increases to the rate of National Insurance contributions (NICs) that are paid by employers came into effect on 6 April 2025. The main rate of secondary Class 1