A useful point to review your business For many businesses, summer provides a useful opportunity to pause and take stock before the pressures of the autumn trading period and the approach of the tax year end begin to dominate attention again. The first half of 2026 has brought continuing financial pressures for many owner-managed businesses. […]
Businesses are being urged to remain alert after Companies House and the Intellectual Property Office (IPO) issued a joint warning about unsolicited payment requests and misleading invoices being sent to UK companies. According to the government announcement, some businesses are receiving letters and emails that appear official and request payment for services connected with Companies […]
For many years, employees and directors using their own cars for business journeys have relied on HMRC’s approved mileage allowance rates as a simple way to recover motoring costs. However, despite the recent increase in the approved rate from 45p to 55p per mile from 6 April 2026, many motorists may still find themselves substantially […]
Dividends are taxed differently from other types of income, with separate allowances and tax rates that depend on your overall level of income. You do not pay tax on dividends that fall within your Personal Allowance (2026-27: £12,570), and there is also a separate tax-free dividend allowance of £500 each year. Any dividend income above […]
Making gifts during your lifetime can be an effective way to reduce the value of your estate for Inheritance Tax (IHT) purposes. One of the most commonly used exemptions is the annual exemption. This allows an individual to give away up to £3,000 each tax year without the gift forming part of their estate for […]
Identity verification requirements at Companies House became a legal requirement for directors and people with significant control (PSCs) from 18 November 2025. This date marked the start of a 12-month transition period for identity verification. Companies House is introducing the new requirements on a phased basis and affected individuals are being contacted directly with guidance […]
The Chancellor of the Exchequer, Rachel Reeves updated Parliament on 21 May 2026 on the Government’s economic response to the war in Iran and the wider measures being taken to support households and businesses with rising cost pressures. One of the measures announced was an increase in approved mileage rates for those using their own […]
1 June 2026 – Due date for corporation tax due for the year ended 31 August 2025. 19 June 2026 – PAYE and NIC deductions due for month ended 5 June 2026. (If you pay your tax electronically the due date is 22 June 2026). 19 June 2026 – Filing deadline for the CIS300 monthly […]
The government has announced a package of measures intended to protect motorists and businesses from the recent rise in fuel costs, following growing concern over the impact higher oil prices may have on inflation, household finances and business operating costs. The measures include an extension of the existing 5 pence per litre fuel duty reduction, […]
Many taxpayers continue to leave their Self-Assessment tax return until the final weeks before the 31 January filing deadline. Unfortunately, delaying preparation often increases stress levels, creates unnecessary pressure and reduces the opportunity to plan effectively. Preparing your tax return earlier in the tax year can provide a number of practical and financial advantages. Know […]