Not every UK limited company needs a statutory audit. Many smaller companies qualify for audit exemption, but it is important to understand the rules, as an audit may still be required in certain situations. For financial years starting on or after
If your business has transitional profits from basis period reform, spreading over five years may reduce the cash flow impact, but it is important to understand the deadlines. The self-employed basis period reform has changed the way trading income
With the balancing payment and first payment on account both due on 31 January 2026, it is worth checking your options early if funds are tight. The final balancing payment for the 2024-25 tax year is due by 31 January 2026, which is also the
CGT on certain UK residential property sales often has a strict 60-day reporting and payment deadline, so early planning can avoid penalties. If you are selling a second property, such as a buy-to-let or a former home that is no longer your main
If one partner earns under £12,570, you could transfer part of their unused personal allowance and cut your tax bill by up to £252 a year. The Marriage Allowance applies to married couples and civil partners where one partner does not pay Income
There are a number of annual payroll reporting issues that employers are required to complete. With the tax year ending on 5 April 2026, this means there are several key payroll reporting chores that will need to be considered over the coming
If your company profits sit between £50,000 and £250,000, marginal relief can soften the jump from 19% to 25% Corporation Tax. The Corporation Tax main rate applies to companies with taxable profits above £250,000 and is currently set at 25%.
The Chancellor, Rachel Reeves has confirmed that she will deliver the Spring Statement to the House of Commons on Tuesday, 3 March 2026. The Spring Statement is used to give an update on the state of the economy and will respond to the economic and
The High Court recently ruled on the interpretation and enforceability of "discretionary" bonus provisions in employment contracts. Mr. Gagliardi brought a breach of employment contract claim against a former hedge fund which had contracted him as a
When a small business applies for a bank loan, the bank is mainly trying to answer one question, “How likely is it that we will be repaid, on time and in full?” To reach that decision, they will review a mix of financial evidence, trading
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