Cash-basis default position for self-employed
The cash basis is now the default for self-employed income reporting. Learn about the key updates, opt-out options, and how this simplified method can ease your self-assessment
Tax Diary February/March 2025
1 February 2025 - Due date for Corporation Tax payable for the year ended 30 April 2024.
19 February 2025 - PAYE and NIC deductions due for month ended 5 February 2025. (If you
VAT Reverse Charge in Construction: What You Need to Know
Navigating VAT in the construction industry can feel like untangling scaffolding. Enter the VAT reverse charge—special rules that mean sub-contractors no longer charge VAT on
The Substantial Shareholdings Exemption
For companies selling shares, the Substantial Shareholdings Exemption (SSE) can mean significant tax relief. Introduced in 2002 and simplified in 2017, this exemption allows
When can you recover VAT on a car purchase
Reclaiming VAT on company cars isn’t as simple as it sounds. Generally, businesses can’t recover VAT unless the car is used exclusively for business purposes. But there are
New online tax tools for the self-employed
Navigating tax obligations can be daunting for small business owners and sole traders. To make life easier, HMRC has introduced new interactive tools, including a Sole Trader Setup
Spreading tax payments by using Time to Pay
Can’t pay your tax bill in full by 31 January 2025? HMRC’s online Time to Pay system lets self-assessment taxpayers spread the cost over monthly instalments. With plans available
Claiming Child Benefits online
Over one million parents have now claimed Child Benefit online or via the HMRC app, with 87% of new claims using this speedy service. If you've recently had a baby or a child joins
Why Protecting Intellectual Property is Important
Intellectual property (IP) refers to creations of the mind, such as inventions, literary works, designs, brand names, and artistic outputs. Whether you are a business owner,
Government Forces Water Companies to Double Compensation
The UK government has announced significant reforms to enhance compensation for customers affected by water service failures. Under new regulations, water companies will be
Just because an employee is a lawful resident of the UK does not give them the right to work
A restaurant in Middlesborough recently challenged a civil penalty notice of £15,000 issued by the Secretary of State for the Home Department under Section 15 of the Immigration
Could you claim R&D relief?
From April 2024, UK businesses can access enhanced R&D tax relief through the merged RDEC and new ERIS schemes. With generous deductions and credits for R&D-intensive