Selling goods or services? It’s vital to know if HMRC considers this a business. From regular sales to earning commissions, their rules on ‘trading’ impact your tax obligations. Here’s a simple guide to help you stay compliant and avoid pitfalls. If
Planning to sell your business or shares? Capital Gains Tax rates for Business Asset Disposal Relief (BADR) are set to rise from 10% to 14% on 6 April 2025, and to 18% from 6 April 2026. Selling before these dates could result in significant tax
The average number of touchpoints needed to secure a sale, or appointment generally falls between 7 and 12. However, this varies by industry, target audience, and product or service type. Here’s why multiple touchpoints are necessary and how they
The Chancellor’s Spring Statement, scheduled for 26 March 2025, is expected to focus on navigating the challenges of public finances, economic growth, and household pressures. Economic Context The UK economy is forecast to grow by 2% in 2025,
Ensure compliance with HMRC rules when providing company cars. From P46(Car) submissions to benefit reporting, learn what steps to take for private use and specific exemptions. Here are the steps you need to follow to inform HMRC if you make any
1 February 2025 - Due date for Corporation Tax payable for the year ended 30 April 2024. 19 February 2025 - PAYE and NIC deductions due for month ended 5 February 2025. (If you pay your tax electronically the due date is 22 February 2025) 19
Capital Gains Tax rates have increased for disposals from 30 October 2024, with further changes ahead. Stay informed on the updated rates for assets, property, and reliefs to optimise your tax planning. We would like to remind our readers of the
The cash basis is now the default for self-employed income reporting. Learn about the key updates, opt-out options, and how this simplified method can ease your self-assessment obligations with HMRC. The cash basis is used by sole traders and other
The economic outlook for the UK in 2025 presents a mixed picture, with expectations of modest growth tempered by persistent inflationary pressures. Growth Projections The Organisation for Economic Co-operation and Development (OECD) has revised its
Inheritance Tax nil-rate bands remain frozen until April 2030. Learn how this affects estates, the residence nil-rate band, and planning opportunities to maximise tax-free inheritance for loved ones. The Inheritance Tax (IHT) nil-rate bands have
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