Making Tax Digital for Income Tax became compulsory for the first group of sole traders and landlords from 6 April 2026. HMRC is now taking the next step. From September 2026, HMRC is starting to sign up people who it believes should already be using Making Tax Digital, but who have not registered themselves. If […]

Businesses that register for VAT may be able to reclaim VAT paid on certain goods and services purchased before VAT registration.  There are specific time limits for claiming pre-registration VAT. VAT on goods can generally be reclaimed where the goods are still held by the business or have been used to produce other goods that […]

When a sole trader or the partners in a partnership transfer a business to a limited company, Capital Gains Tax (CGT) may arise. This is because business assets are normally treated as being transferred at their market value, which may be considerably more than their original cost. However, Incorporation Relief can allow some or all […]

Stamp Duty Land Tax (SDLT) is a tax that may apply when you buy land or property in England or Northern Ireland. It is important to check whether SDLT applies before completing a purchase, as the tax can represent a significant additional cost. SDLT can apply when you buy a freehold property, a new or […]

1 September 2026 – Due date for corporation tax due for the year ended 30 November 2025.   19 September 2026 – PAYE and NIC deductions due for month ended 5 September 2026. (If you pay your tax electronically the due date is 22 September 2026)   19 September 2026 – Filing deadline for the […]

A penalty may now be on its way… Some companies that filed their Corporation Tax return late may shortly receive an unwelcome letter from HMRC, even though the filing deadline passed some time ago. HMRC temporarily stopped issuing automatic Corporation Tax late-filing penalty notices while it updated its computer systems. Those changes have now been […]

Running a limited company gives business owners several ways of taking money from their business. Salary and dividends are the most familiar, but they are not the only possibilities. The tax consequences can also be quite different, which means simply transferring money from the company bank account when you need it is rarely the best […]

It is one of the more frustrating situations for a business owner. Sales are increasing, everyone seems busy and there is plenty of work coming through the door. Yet the bank balance does not seem to improve, and, in some cases, cash becomes even tighter as the business grows. The problem is that increasing sales […]

Imagine that tomorrow morning you were suddenly unable to work. Not permanently, but for three months. Could your business continue operating normally without you? For many owner-managed businesses, the answer is less certain than the owner might like to believe. The business may employ capable people, have established customers and generate healthy profits, but important […]

Companies House identity verification is now part of the compliance responsibilities of UK companies. If you are a company director or person with significant control, it is important to understand when you need to verify and what happens afterwards. Mandatory identity verification was introduced from 18 November 2025. However, this did not mean that every […]