Self-Employed National Insurance Contributions
Self-employed individuals earning £12,570 or more annually must pay Class 4 National Insurance Contributions (NICs). For 2024-25, rates are 6% on profits up to £50,270 and 2% above
Group relief for trading losses
Group relief helps reduce the overall Corporation Tax of a group of companies by allowing them to share losses. For example, if a parent company has profits of £1,000 and its
Beware of rushing to judgement before terminating employment.
A Tribunal has ruled that a deputy security manager was unfairly dismissed, despite performing “no prescribed tasks” while ‘working from home’, many hundreds of miles
Why flexible planning is advisable
Flexible planning is essential for adapting to uncertainty, responding to challenges, and seizing new opportunities. The world is unpredictable, and rigid plans can quickly become
Changes to online filing of accounts at Companies House
The Online Accounts and Company Tax Return (CATO) service is scheduled to close on 31 March 2026.
This service has enabled businesses to file their company accounts and tax
Tax Diary April/May 2025
1 April 2025 - Due date for corporation tax due for the year ended 30 June 2024.
19 April 2025 - PAYE and NIC deductions due for month ended 5 April 2025. (If you pay your tax
Making a negligible value claim with HMRC
A negligible value claim lets taxpayers declare an asset worthless for tax purposes, realising a capital loss without selling. This can be backdated up to two years, offering
More tax on business disposals from April 25
From April 2025, the Capital Gains Tax rate on Business Asset Disposal Relief rises from 10% to 14%, increasing to 18% in 2026. Business owners planning to sell may benefit from
Letting out part of your home – claiming lettings relief
Renting out part of your home may affect Capital Gains Tax when you sell. While Private Residence Relief applies, Letting Relief can reduce taxable gains. Learn how PRR, Letting
Inheriting spouse’s State Pension
If your spouse or civil partner has passed away, you may inherit part of their State Pension, depending on when you reached pension age. Find out what you could claim, from basic
VAT and the goods you use in your own business
Using business goods instead of selling them is usually VAT-free, but some cases require VAT payments. These "taxable self-supplies" include cars taken from stock and
What is a salary sacrifice?
A salary sacrifice scheme lets employees swap cash salary for non-cash benefits, saving tax and National Insurance. But earnings must not fall below the National Minimum Wage, and