MTD for Income Tax deadline is approaching
MTD for Income Tax starts 6 April 2026 for the self-employed and landlords with £50k+ income. Plan early to stay compliant and avoid disruption.
MTD represents one of the most
HMRC interest rates following Bank of England rate cut
Following a Bank Rate cut to 4.25%, HMRC late payment and repayment interest rates will drop from 19 and 28 May 2025. Check which taxes this affects.
The Bank of England’s
Deadline for paying Class 1A NIC
Employers must pay Class 1A NICs on 2024-25 benefits by 19 July (22 July if paying electronically). Avoid penalties by meeting deadlines and using correct references.
Employers
The transition from FHL to Property Rental business
Tax perks for Furnished Holiday Lets have ended. From April 2025, lettings fall under standard rental rules. Check the transition rules to avoid surprises.
The tax advantages that
When can you deregister for VAT?
Considering VAT deregistration? Whether compulsory or voluntary, knowing the rules, deadlines and risks of delay can save your business from costly penalties.
The decision to
The importance of discretion – don’t send inappropriate messages during working hours!
An Employment Tribunal confirmed that using an employer's preferred method of communicating with employees to send offensive messages can serve as a ground for dismissal. A
Landmark economic deal with United States
On 8 May 2025, the UK government announced a landmark trade agreement with the United States, aimed at reducing tariffs and bolstering key British industries. This deal is
Still recording your accounts on spreadsheets?
For small and medium-sized enterprises (SMEs), adopting accounting software offers a range of practical benefits that help streamline financial management, reduce errors, and
How to check employment status
HMRC’s CEST tool gets a revamp from 30 April 2025, with clearer questions and updated guidance to help users decide employment status for tax—plus stronger backing from
Reversal of requirement to report more detailed employee hours paid
The government has scrapped plans for detailed PAYE reporting of employee hours from April 2026, citing concerns over cost, complexity, and practicality. Employers will stick with
Mandating the Payrolling of benefits in kind update
HMRC has delayed mandatory payrolling of benefits in kind by a year to April 2027, giving employers and software providers more time to prepare. Penalties will be eased in the
Income reporting threshold increased
The £3,000 reporting threshold for trading, property, and other income will simplify tax returns—300,000 people could be freed from filing. A digital alternative is also