As of April 2025, directors of close companies and self-employed taxpayers face new mandatory reporting requirements on their Self-Assessment returns. Up to 900,000 company directors and 1.2 million taxpayers carrying on a trade will be impacted by new rules that require them to provide more information when filing their 2025-26 self-assessment returns. Legislation has been […]
1 November 2025 – Due date for Corporation Tax due for the year ended 31 January 2025. 19 November 2025 – PAYE and NIC deductions due for month ended 5 November 2024. (If you pay your tax electronically the due date is 22 November 2025.) 19 November 2025 – Filing deadline for the CIS300 monthly […]
Many people put off writing a Will. It is easy to understand why. It feels like planning for something that is hopefully far away, and it can feel uncomfortable to think about what will happen after we are no longer here. Yet having a Will in place is one of the most considerate and practical […]
A Family Investment Company (FIC) is a private limited company that is structured and run to hold, manage and grow family wealth in a controlled, tax-efficient way. It has become increasingly popular in the UK as an alternative to using trusts, especially since tax rules around trusts have tightened in recent years. Here’s how it […]
With the Autumn Budget due on 26 November 2025, speculation is mounting about which taxes could rise and where the Chancellor might look for extra revenue. After ruling out increases in the main rates of income tax, National Insurance and VAT, attention is shifting to the so-called “stealth” areas of the tax system, the ones […]
With colder days on the horizon, many pensioners will soon receive their Winter Fuel Payment, a vital support when heating bills start to rise. But as that help rolls out, fraudsters are ramping up efforts to exploit it. Recent data shows scam referrals have leapt by a staggering 153 per cent over the last week […]
The Chancellor’s Autumn Budget is only weeks away, and there is growing speculation that key tax reliefs and allowances could soon be reduced or restricted. Reports suggest that higher-rate pension relief, capital gains tax rates and dividend allowances may all come under review. For business owners and higher-rate taxpayers, this could be a good time […]
For many business owners and high value individuals, protecting family wealth is as important as creating it. Succession planning, deciding how ownership and control will pass on to the next generation, is no longer just a matter for the future. With possible changes ahead to inheritance tax (IHT) and Business Property Relief (BPR), this is […]
Interest rates have now settled at levels many business owners and investors have not seen for over a decade. Even if the Bank of England begins to trim the base rate later this year, most commentators expect the cost of borrowing to remain well above the ultra-low rates of the past. That means every small […]
Even the most advanced accounting software is built on a principle that has stood the test of time: double entry bookkeeping. First described more than 500 years ago, it remains the foundation of every set of accounts today. For business owners, understanding the basics can make reports and figures much easier to follow. What is […]