What Landlords and Sole Traders Need to Do Before April 2027 Making Tax Digital (MTD) continues to represent one of the biggest changes to the UK tax and self-assessment system in recent years. Whilst the next phase doesn’t become mandatory until April 2027, certain landlords and sole traders should start preparing now. What’s changing? From […]
Why Strategic Business Advice Matters More Than Ever for Growing SMEs Many business owners initially appoint an accountant to prepare annual accounts and tax returns. As businesses grow, however, they often need much more than just compliance support. Beyond the numbers The most successful owner-managed businesses use financial information as a foundation for better decision-making. […]
What Directors and Business Owners Need to Know Cryptocurrency has become increasingly common amongst investors, entrepreneurs and business owners. However, many people still underestimate the tax implications of buying, selling or exchanging digital assets. The misconception about crypto A common assumption is that crypto investments sit outside the UK tax system. In reality, HMRC expects […]
Payroll is becoming increasingly complex, with several legislative changes on the horizon that could impact employers and employees alike. Mandatory Payrolling of Benefits in Kind From 6th April 2027, certain benefits including company cars, fuel benefits and medical benefits will be taxed through payroll in real time rather than through tax code adjustments. Why employers […]
It is now confirmed that neonatal leave and pay will come into force from 6 April 2025, providing parents with a right to up to 12 weeks’ leave and pay when their baby requires neonatal care. New right to neonatal care leave and pay confirmed from 6 April, expected to benefit around 60,000 new parents. […]
Current tax legislation tends to incentivise farmers and other business owners to retain ownership of their business until death. When passed on through inheritance, the assets are transferred at their market (probate) value for Capital Gains Tax (CGT) purposes, effectively providing a tax-free uplift in value. Combined with 100% Agricultural Property Relief (APR) and Business […]
From Voluntary Codes to Mandatory Reimbursement Initially introduced in 2019, the Contingent Reimbursement Model (CRM Code) was a voluntary framework under which participating Payment Service Providers (PSPs) reimbursed APP fraud victims if certain conditions were met. By 2023, signatories of the CRM Code accounted for over 90% of reported APP fraud cases. Yet, the voluntary […]
The UK government has announced that from April 2026, employers will be required to report and pay income tax and Class 1A National Insurance Contributions (NIC) on benefits-in-kind (BIK) via payroll software. This new mandate by HMRC aims to streamline the administrative process, simplify reporting, and enhance digitalization of tax payments related to employment […]
Help to Grow: Management is an initiative designed to bolster the resilience and performance of Small and Medium-sized Enterprises (SMEs), which are crucial to the UK’s economy. Addressing the productivity gap in the UK, this program offers comprehensive training for SME leaders, equipping them with the skills necessary to drive growth and efficiency in […]
The new Labour government has published draft legislation that will subject private school fees to VAT beginning on 1 January 2025. This move, which had been outlined in the Labour Party’s manifesto, removes the uncertainty about how these measures would be implemented and their impact on private schools. The draft measures are currently open for […]
