If you’re a company director and have ever dipped into company funds for a personal loan, you need to know about Section 455. It’s a Corporation Tax charge that applies when director loans aren’t repaid on time – and it can be a costly surprise if you’re not prepared. This blog explains what it is, […]
If you run a small business, you could find tax admin taking up precious time. But the good news is that HMRC recognises the challenges – and has a transformation roadmap to make tax quicker and simpler over the coming years. By 2030, HMRC wants at least 90% of customer interactions to be digital. That […]
If you run your own limited company, you’ve probably got an extensive to-do list – and pension planning often falls to the bottom. But as a company director, there’s a big opportunity here. Paying into a private pension directly from your business can be one of the most tax-efficient decisions you make. Here’s how it […]
The Let Property Campaign (LPC) is an ongoing initiative by HMRC inviting individual landlords to disclose previously undeclared rental income. Whether it’s due to oversight, misunderstanding of the obligations or changes in personal circumstances, many landlords find that they have underpaid their tax. The LPC provides a structured, fairly lenient pathway to correct any issues. […]
If you’re a director of a UK limited company, determining how to pay yourself – through salary, dividends, or a combination of both – is a crucial part of tax efficiency. In this article we explore the pros and cons of each approach to help you make an informed decision. Paying Yourself a Salary […]
If you’re self-employed, you might have heard whispers about MTD for ITSA coming your way next year (April 2026). But what does it all mean and what will you have to do differently? Making Tax Digital (MTD) for Income Tax Self Assessment (ITSA) is an initiative from HMRC aimed at modernising tax handling in the […]
The Chancellor, Rachel Reeves, prefaced the Spring budget with a reminder that Labour was elected “bring change, provide security for working people and deliver a decade of national renewal”. This has been made more difficult in recent months amid weaker-than-expected growth, and uncertainty in US markets pushing up borrowing costs. She said that the “global […]
Upcoming changes to the special tax rules for Furnished Holiday Lettings are set to shake things up from April 2025. Announced in the March 2024, these changes essentially remove the tax benefits that holiday lets gain over other types of rental property businesses. Here’s a rundown of what’s happening and how it might affect you. […]
Running a business comes with many challenges, but one of the most important is managing your finances effectively. Being on top of your financial situation isn’t just about avoiding debt — it’s about giving your business the opportunity to thrive. We have 10 top tips to help you stay in control of your finances and […]
31 January is the annual self-assessment deadline, and it can be a stressful time of year for many. Here’s our guide to submitting your tax return and reducing the anxiety. Who Needs to Submit a Tax Return? Typical people who usually have to carry out self-assessment include: The self-employed People with more than one […]