Speculation is growing that rates or allowances applied to dividend income may change in the next Budget. The current tax rates for dividends received (in excess of the £500 dividend tax allowance) are as follows: 8.75% for basic rate taxpayers
Bereaved spouses who lost service pensions before 2015 have until 15 October 2025 to claim a one-off £87,500 recognition payment. This scheme was launched in October 2023 to help war widows and widowers who lost their service-attributable pensions
Fraudsters are continuing to target taxpayers with scam emails as the deadline for submission of self-assessment returns for the 2024-25 tax year gets ever closer. In the 12 months to 31 July 2025, HMRC received more than 170,000 reports of
Issuing a VAT invoice without registration or authorisation can lead to HMRC penalties, even if it is done by mistake. A penalty may be charged by HMRC when an individual or business issues an unauthorised VAT invoice showing or including VAT
Mr. Aslam, a former Metroline employee, applied to another bus company on 13 April 2019, disclosing that he suffered from partial hearing loss, depression, anxiety, insomnia and stress, and was interviewed on 14 May 2019. He disclosed that he had
Working capital is a simple but powerful measure of a business’s financial health. It is the difference between current assets and current liabilities. In other words, it shows what is left when a business’s short-term debts are taken away from its
Every business has a duty to pay tax, whether that is Corporation Tax, VAT, PAYE, or personal tax liabilities for the owners. While these payments are predictable, many businesses still find themselves short of cash when the due dates arrive. One way
Paying Corporation Tax? Always use the correct reference or risk delays and penalties. To pay Corporation Tax via online or telephone bank transfer, you can use either a UK or overseas bank account. UK Bank Accounts You can transfer funds using
Not all goods and services carry a 20% VAT, knowing the right rate can save costly mistakes. When a VAT-registered business issues an invoice to their customer, they must ensure that they charge the correct rate of VAT. Whilst most businesses in the
Using your own car or bike for work travel? You may be able to claim tax relief for business mileage. If you are employed and spend your own money on items needed for your job, you may be eligible to claim tax relief on those expenses. However, you
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