Making Tax Digital (MTD) for Income Tax is now in force for many self-employed individuals and landlords. Since 6 April 2026, taxpayers with qualifying business or property income exceeding £50,000 are required to maintain digital records and submit
The freezing of tax thresholds can result in a phenomenon commonly referred to as 'fiscal drag'. This occurs when tax allowances and rate bands remain unchanged while wages and inflation increase. As earnings rise, more taxpayers are ‘dragged’ into
Identity verification requirements at Companies House became a legal requirement for directors and people with significant control (PSCs) from 18 November 2025. This date marked the start of a 12-month transition period for identity verification.
Business Asset Disposal Relief (BADR) applies to the sale of a business, shares in a trading company, or an individual’s interest in a trading partnership. When this relief is available, a reduced 18% rate (2026-27) of Capital Gains Tax (CGT)
The VAT Cash Accounting Scheme can help businesses improve cash flow by allowing VAT to be accounted for when customers actually pay invoices, rather than when invoices are issued. This can be particularly beneficial for businesses that offer credit
When renting out property, landlords may have both Income Tax and National Insurance considerations to consider. However, rental income is generally taxable. For individuals, the first £1,000 of rental income is tax-free under the property
Taking on your first employee can help a business grow, although it also brings a number of important responsibilities. Before employing staff for the first time, business owners should consider the following points: Register as an employer with
Many business owners spend considerable time focusing on sales growth, staffing and profitability, although basic business risks are sometimes overlooked until a problem arises. A simple review of key risk areas can often help protect both the
Employment disputes can drag on for years, which inevitably raises the question of how long is too long for a hearing to be deemed fair. Mr. Boateng was originally employed in January 2017 by a gentlemen’s outfitters at their branch in the Strand
Businesses that lease cars often assume they can recover all of the VAT charged on car leasing payments. In practice, the rules are more limited. Where a business leases a qualifying car, HMRC normally only allows 50% of the VAT on the leasing
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