The new 40% First Year Allowance (FYA) for qualifying main-rate plant and machinery expenditure first announced at Autumn Budget 2025 has now come into force. Effective from 1 January 2026, the new FYA applies to qualifying main-rate plant and
The government recently announced significant changes to the planned reforms to Agricultural Property Relief (APR) and Business Property Relief (BPR). The threshold for 100% relief will be increased from £1 million to £2.5 million when the changes
HMRC’s figures show thousands of taxpayers are filing over the festive period, but leaving your return until late January risks penalties, stress and avoidable payment problems. A new press release by HMRC has highlighted that 4,606 taxpayers took
While company cars often come with tax implications, there are specific situations where the associated benefits may be exempt. There are circumstances where it can be possible to offer employees car benefits that are exempt from tax. Exempt
Providing the right information when you start a new job helps ensure your tax code is correct from the first pay day and avoids the risk of paying too much tax. When starting a new job or taking on additional employment, your new employer will
Verifying a VAT number before reclaiming VAT can protect your business from rejected claims, repayments, and unnecessary penalties.The online service for checking a UK VAT number is available at www.gov.uk/check-uk-vat-number. This online tool allows
The trivial benefits legislation provides a simple and practical tax exemption that allows employers to give small non-cash benefits to employees without triggering tax or National Insurance charges. To qualify as a trivial benefit, the cost to the
The Court of Appeal has ruled that the initiation of legal or arbitral proceedings by an employer against a ‘whistleblower’ who has made a protected disclosure constitutes an actionable detriment under the Employment Rights Act (ERA) 1996,
Making mistakes in business is unavoidable. No matter how experienced or careful someone is, decisions are made with imperfect information, time pressure and changing conditions. What separates resilient businesses from those that struggle is not the
For many individuals and business owners, paying tax is one of the largest regular financial commitments they face. Yet tax bills often arrive as a shock, not because the amounts are unexpected, but because the funds have not been set aside in
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