Bonuses are treated as taxable earnings, so both employers and employees need to understand how they are taxed and reported. For cash bonuses (including vouchers that can be exchanged for cash), the rules are straightforward. The payment is added to an employee’s normal salary and taxed through the Pay As You Earn (PAYE). This means […]
When a sole trader or partnership transfers a business to a company, a chargeable gain may arise. This is calculated by reference to the market value of the business assets at the date of incorporation (including goodwill), compared with their original base cost. The resulting gain would ordinarily be subject to Capital Gains Tax. In […]
Your Personal Tax Account (PTA) is an easy and secure way to manage your tax online. You can use it to check your tax code, claim a refund and update your details, all in one place, without needing to contact HMRC by phone or post. Every UK taxpayer has a PTA, but you will need […]
1 May 2026 – Due date for corporation tax due for the year ended 30 July 2025. 19 May 2026 – PAYE and NIC deductions due for month ended 5 May 2026. (If you pay your tax electronically the due date is 22 May 2026). 19 May 2026 – Filing deadline for the […]
A recent initiative led by the Lucy Rigby is shining a light on a surprising issue, many young adults in the UK may be sitting on savings they do not even realise they have. The focus is on Child Trust Funds, long term, tax free savings accounts set up for children born between September 2002 […]
From 1 May 2026, the Renters’ Rights Act introduces the most significant changes to private renting in England for many years. The reforms affect how landlords let property, manage tenants and bring tenancies to an end. For landlords and property investors, understanding these changes is essential to remain compliant and avoid penalties. Fixed term tenancies […]
Late payment remains one of the most common causes of cash flow pressure for small businesses. Even profitable businesses can struggle if invoices are not paid on time. The good news is that there are several practical options available to improve collections, ranging from simple internal processes to more formal recovery action. Start with clear […]
Recent government guidance has highlighted a growing risk of fraud linked to Winter Fuel Payments, with criminals attempting to exploit uncertainty around changes to eligibility and repayment arrangements. Pensioners are being encouraged to remain cautious if they receive unexpected communications claiming to be connected with the payment, particularly where personal or financial information is requested. […]
Raising prices is rarely comfortable for business owners, yet it is often necessary to maintain margins as wages, materials, finance costs and energy bills rise. The difficulty is rarely the price itself. It is the customer’s perception of whether the product or service is still worth the cost. A more effective approach than simply announcing […]
For the 2026-27 tax year, individuals with income between £100,000 and £125,140 face an effective marginal income tax rate of 60%. This unusually high rate is not a separate tax band but arises because the personal allowance is gradually withdrawn once income exceeds £100,000. The personal allowance remains £12,570 for 2026-27 and continues to be […]