Exception from VAT registration
Businesses over £90,000 turnover must register for VAT, but HMRC may grant exceptions if the increase is temporary.
A business must register for VAT if either of the following
Are casual payments taxable?
Not all casual payments are tax-free; HMRC’s miscellaneous income rules may apply depending on the circumstances.
The special miscellaneous income rules sweep-up provisions that
Two important 2025 self-assessment deadlines
Paper tax returns are due 31 October 2025, and new registrants must notify HMRC by 5 October 2025. Act early to avoid penalties.
Firstly, the deadline for submitting paper
Tax-free income from letting a room in your home
Homeowners can earn up to £7,500 tax-free under the rent-a-room scheme, with simple reporting and flexible tax options.
This set of special rules is designed to encourage
Sharing income from jointly held property
The standard tax treatment for couples living together, whether married or in a civil partnership, is that income from jointly held property is split equally (50:50) between them,
What is the recent £150bn tech investment deal?
During the State Visit by President Trump, the UK secured a record-breaking £150 billion of inward investment from US firms. The package is intended to boost jobs, support growth,
Choosing the right way to buy a vehicle for your business
For many business owners, a vehicle is an essential tool. Whether it is for visiting clients, delivering goods, or simply keeping things moving, choosing how to finance a vehicle
Unauthorised issue of a VAT invoice
Issuing a VAT invoice without registration or authorisation can lead to HMRC penalties, even if it is done by mistake.
A penalty may be charged by HMRC when an individual or
Beware scams pretending to be HMRC
Fraudsters are continuing to target taxpayers with scam emails as the deadline for submission of self-assessment returns for the 2024-25 tax year gets ever closer. In the 12 months
War Widows Recognition Payments Scheme
Bereaved spouses who lost service pensions before 2015 have until 15 October 2025 to claim a one-off £87,500 recognition payment.
This scheme was launched in October 2023 to help
Dividend taxes will they increase?
Speculation is growing that rates or allowances applied to dividend income may change in the next Budget.
The current tax rates for dividends received (in excess of the £500
Tax relief for employer contributions to a pension scheme
Employers can generally claim tax relief on contributions made to a registered pension scheme by deducting those payments as an expense when calculating their business profits.