Aynesley Walters Cohen Ltd - Chartered Accountants Croydon

May 18, 2026

Can a tribunal be fair after all is long said and done?

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 before being relocated and promoted to hiring...

May 18, 2026

Covering basic business risks

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 business and the personal finances of the owners. One of the most important...

May 18, 2026

New employers check list

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 HM Revenue and Customs before the first payday. Set up a payroll...

May 14, 2026

Working out your UK residence status

Your UK residence status affects how much tax you pay in the UK and, in particular, whether your foreign income and gains are subject to UK tax. In simple terms, UK residents are normally taxed on their worldwide income and gains, while non-residents are generally only taxed on UK-source income...

May 14, 2026

Tax effects of living away from your home

Many homeowners assume that if a property has been their main residence at some point, any gain made on sale will automatically be free from Capital Gains Tax (CGT). Whilst in many cases, this is correct there are exceptions. For example, periods spent living away from your home can sometimes...

May 14, 2026

Tax-free gifts for Inheritance Tax purposes

Making gifts during your lifetime can be an effective way to reduce the value of your estate for Inheritance Tax (IHT) purposes. One of the most commonly used exemptions is the annual exemption. This allows an individual to give away up to £3,000 each tax year without the gift forming...

May 14, 2026

Reclaiming VAT on car leasing costs

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 charges to be reclaimed. The restriction is...

May 11, 2026

Why cyber security is now a business survival issue

Cyber security is no longer a concern limited to large corporations. Increasingly, smaller businesses are finding themselves targeted by phishing attacks, payment frauds and ransomware incidents, many of which are becoming more sophisticated through the use of artificial intelligence (AI). Recent reports suggest that cyber criminals are now using AI...

May 11, 2026

Employment law changes pressure small businesses

Many small business owners are already feeling the effects of rising staffing costs, tighter recruitment conditions and increased administration. Recent employment law changes are now adding further pressure, particularly for employers that do not have dedicated HR support. A number of the changes introduced during 2026 affect day to day...

May 7, 2026

Tax Diary June/July 2026

1 June 2026 - Due date for corporation tax due for the year ended 31 August 2025. 19 June 2026 - PAYE and NIC deductions due for month ended 5 June 2026. (If you pay your tax electronically the due date is 22 June 2026). 19 June 2026 - Filing...

May 7, 2026

National Insurance liability on benefits in kind

National Insurance contributions that relate to employee benefits are known as Class 1A National Insurance contributions. Employers must pay these National Insurance contributions on most work-related benefits provided to employees, such as a company mobile phone or other non-cash perks. Class 1A National Insurance also applies to certain termination payments....

May 7, 2026

How capital gains are linked with Income Tax

How capital gains are linked with Income Tax is important to understand as your overall income position affects the Capital Gains Tax (CGT) rate you pay. CGT interacts directly with your Income Tax band. Your taxable income is first calculated after deducting your Personal Allowance and any Income Tax reliefs....

May 7, 2026

How dividends are taxed

Dividends are taxed differently from other types of income, with separate allowances and tax rates that depend on your overall level of income. You do not pay tax on dividends that fall within your Personal Allowance (2026-27: £12,570), and there is also a separate tax-free dividend allowance of £500 each...

May 7, 2026

The 60% tax band

Many taxpayers are surprised to learn that once their income exceeds £100,000, they can face an effective tax rate of 60%, although officially, no such rate appears to exist. This happens when the personal allowance (currently £12,570) is gradually withdrawn once adjusted net income goes above £100,000. Under the tax...

May 6, 2026

A pattern of workplace harassment may be treated as a continuous event

A pivotal ruling has raised a protective umbrella over those impacted by a toxic workplace environment, potentially extending employers' legal liability by months or even years. An Employment Tribunal had to decide whether the employers of a harassed employee, who was actively considering a change of employment, could use this...

May 4, 2026

Non-tax considerations when returning to the UK

Returning to the UK after a period abroad can feel straightforward on the surface, but there are a number of practical and personal matters that need careful thought to ensure a smooth transition. Housing and accommodation One of the first issues to address is where you will live. If you...

May 4, 2026

Update on Companies House plans for profit and loss filing

There has been considerable discussion over the past year about whether small companies would be required to file profit and loss accounts at Companies House. Many practitioners will be aware that proposals were introduced under the Economic Crime and Corporate Transparency Act 2023 which signalled a move towards greater transparency...

April 30, 2026

Setting off losses against other income sources

If you are self-employed or a member of a partnership, you may be able to claim tax relief when your business makes a loss. There are several ways trading losses can be used, but each loss can only be used once and specific conditions apply. For the 2025–26 tax year,...

April 30, 2026

Tax on savings interest

If your taxable income for the 2026–27 tax year is less than £17,570, you will not pay any tax on the interest you receive. This figure combines the £5,000 starting rate for savings (taxed at 0%) with the £12,570 personal allowance. In addition, the Personal Savings Allowance (PSA) provides further...

April 30, 2026

How bonuses are taxed

Bonuses are treated as taxable earnings, so both employers and employees need to understand how they are taxed and reported. For cash bonuses (including vouchers that can be exchanged for cash), the rules are straightforward. The payment is added to an employee’s normal salary and taxed through the Pay As...

April 30, 2026

Reclaiming VAT on taxi and ride-hailing fares

Changes announced in the Autumn Budget have removed the use of a niche VAT scheme known as the Tour Operators Margin Scheme (TOMS) for private hire vehicle operators from January 2026. TOMS was originally designed for tour operators selling travel packages. However, some large ride-hailing firms had used it to...

April 27, 2026

Cash flow resilience in uncertain trading conditions

Rising costs and economic uncertainty have made cash flow management more important than ever. While many businesses focus on profit, it is cash that determines whether a business can meet its day to day obligations and take advantage of new opportunities. A sensible starting point is to review how quickly...

April 27, 2026

New legal duty for landlords under the renters’ rights act

Landlords must now comply with an important new legal requirement introduced under the Renters’ Rights Act, which brings significant reform to the private rented sector in England. The government has published an official information sheet that explains the changes and sets out the new rights available to tenants starting from...

April 23, 2026

Filing your 2025-26 self-assessment tax return

The 2025–26 tax year ended on 5 April 2026, and attention now turns to filing your self-assessment tax return. While many leave this until the last minute, there are advantages to filing early. There are two ways to file your return. You can submit a paper return, which must be...

April 23, 2026

When is CGT payable on gains during 2026-27

For most capital gains realised in the 2026–27 tax year, Capital Gains Tax (CGT) is reported and paid by 31 January 2028 via the self-assessment system. This applies to gains on assets such as shares, investments and commercial property. However, UK residential property is an important exception. Where a residential...

April 23, 2026

Pay back private fuel costs and avoid tax charge

Employees who receive fuel from their employer for private use in a company car can avoid paying the car fuel benefit charge by reimbursing the full cost of the private fuel. This process, known as "making good," requires the employee to repay the employer for private fuel no later than...

April 23, 2026

Beware Winter Fuel Payment scams

Pensioners are being urged to stay vigilant for any Winter Fuel Payment scams. HMRC is starting to recover Winter Fuel Payments issued for winter 2025 from those earning over £35,000 a year. While the process will affect nearly two million people, most will see the repayment handled automatically through adjustments...

April 20, 2026

Preparing for a new employment landscape in 2026/27: Further protections

Annual leave & holiday pay (effective April 2026) From 6 April, the Employment Rights Act (ERA) 2025 has introduced strict new record-keeping duties, requiring employers to maintain detailed records of annual leave, carried-over holiday, and holiday pay. Employers must keep these records for six years, with failure to do so...

April 20, 2026

Interest rate outlook for 2026

The outlook for UK interest rates during 2026 remains uncertain, although current expectations suggest relative stability, with the possibility of modest reductions later in the year if inflation continues to ease. While interest rates have fallen from their recent peak levels, they remain higher than many businesses became accustomed to...

April 20, 2026

Hedging against rising costs

Rising prices remain a concern for many UK business owners, particularly where energy, materials, labour and finance costs are unpredictable. While it is rarely possible to eliminate cost pressures entirely, a number of practical steps can reduce exposure and provide greater stability when planning ahead. One of the simplest strategies...

April 16, 2026

Settlor retains interest in settled property

The settlements legislation is designed to ensure that where a settlor retains an interest in settled property, the income arising is treated as the settlor’s income for all tax purposes. A settlor will be treated as having retained an interest where the settlor, or their spouse or civil partner, can...

April 16, 2026

Car and travel expenses if self-employed

If you are self-employed, it is important to understand which car and travel costs are allowable for tax purposes. You may claim allowable business expenses for car, van, and travel costs, which will reduce your taxable profits. Typical allowable costs include: Vehicle insurance Repairs and servicing Fuel Parking Hire charges...

April 16, 2026

Tax relief when incorporating a business

When a sole trader or partnership transfers a business to a company, a chargeable gain may arise. This is calculated by reference to the market value of the business assets at the date of incorporation (including goodwill), compared with their original base cost. The resulting gain would ordinarily be subject...

April 16, 2026

Filing obligations for private limited companies

Those responsible for the accounts and tax compliance of private limited companies must ensure they are fully aware of the relevant obligations and statutory deadlines. Following the end of each financial year, a private limited company is required to prepare full annual accounts and submit a Company Tax Return. The...

April 13, 2026

Reducing domestic energy costs

Energy costs remain a significant pressure on household budgets, and reducing consumption continues to be one of the most reliable ways to control expenditure. Fortunately, many practical steps can lower usage without reducing comfort. A structured approach often produces the best results, starting with quick wins and then considering longer...

April 13, 2026

Increase in employment costs 2026-27

From April 2026, the National Minimum Wage and National Living Wage rates have increased, and businesses should ensure payroll systems are updated immediately so that employees receive the correct statutory pay. These changes apply from the start of the 2026-27 tax year and form part of the Government’s ongoing policy...

April 13, 2026

Tax Diary May/June 2026

1 May 2026 - Due date for corporation tax due for the year ended 30 July 2025. 19 May 2026 - PAYE and NIC deductions due for month ended 5 May 2026. (If you pay your tax electronically the due date is 22 May 2026). 19 May 2026 - Filing...

April 9, 2026

Vaping products duty schemes

The new Vaping Products Duty (VPD) and Vaping Duty Stamps (VDS) are being introduced from 1 October 2026. In advance of the launch of the new schemes, HMRC opened applications for approval for manufacturers, importers and warehouse keepers on 1 April 2026. This means that businesses affected by these changes...

April 9, 2026

Living away from home?

Private Residence Relief (PRR) is a valuable Capital Gains Tax relief that can eliminate the tax due when you sell your home. In simple terms, it applies to periods when a property has been your only or main residence. However, if you spend time living away from home, the position...

April 9, 2026

Do you have a personal tax account yet?

Your Personal Tax Account (PTA) is an easy and secure way to manage your tax online. You can use it to check your tax code, claim a refund and update your details, all in one place, without needing to contact HMRC by phone or post. Every UK taxpayer has a...

April 9, 2026

New support measures to allow affordable debt repayment

The government has announced new support measures to allow affordable debt repayment for government debt. The new measures set out a clearer and more practical approach to helping individuals and businesses manage what they owe. Announced during Debt Awareness Week 2026, the plans aim to ensure repayments are realistic, tailored...

April 7, 2026

Preparing for a new employment landscape in 2026: “Day One” Entitlements

Paternity Leave As of Monday, 6 April 2026, the Employment Rights Act (ERA) 2025 will fundamentally transform the UK workplace by introducing several "Day One" entitlements. Now, paid paternity leave and unpaid parental leave are Day One Rights, granted immediately upon joining a firm. Fathers will also be permitted to...

April 6, 2026

Data Protection rules are still alive

Businesses that collect or use personal information must comply with UK data protection law. Personal data includes any information that can identify a living individual, such as names, addresses, contact details, financial information or online identifiers. The rules apply whether information relates to customers, employees or suppliers, and whether it...

April 6, 2026

Crackdown on energy profiteering

The government has announced a package of measures designed to tackle unfair price increases and strengthen the United Kingdom’s long term energy security. The Chancellor has set out proposals to give regulators additional powers to intervene where businesses are considered to be charging excessive prices during periods of market disruption....

April 2, 2026

Business.gov.uk advice selling to international markets

There are a variety of services available to assist UK exporters that can be found at https://www.business.gov.uk/export-from-uk/ There you can find a range of government-backed tools and support to help businesses begin or expand their export activity. The GOV.UK platform brings together guidance, training and financial support in one place,...

April 2, 2026

The marginal Corporation Tax rates

The rate of Corporation Tax payable depends on the level of a company’s taxable profits. The main rate is 25% and applies where profits exceed £250,000. At the other end of the scale, companies with profits of £50,000 or less benefit from the Small Profits Rate, which remains at 19%.For...

April 2, 2026

Business Asset Disposal Relief – tax increase from April 2026

The tax rate for Business Asset Disposal Relief (BADR) will increase to 18% (from 14%) on 6 April 2026. BADR offers a reduced Capital Gains Tax (CGT) rate on qualifying disposals such as the sale of a business, shares in a trading company or an individual’s stake in a trading...

April 2, 2026

Action to reduce cost of living pressures

The Chancellor has set out a package of measures aimed at reducing cost of living pressures for households and at the same time strengthening the UK’s longer-term economic resilience. The announcement focuses on tackling rising prices, improving energy security and ensuring markets work fairly for consumers.A key element is the...

March 30, 2026

Income from spare capacity

Many businesses have spare capacity that could generate additional income with relatively little additional cost. Spare capacity may arise where premises, staff time, equipment or intellectual property are not fully utilised throughout the working week or year. Identifying and using this capacity can improve profitability without significantly increasing overheads.One common...

March 30, 2026

Managing stock turnover

Stock turnover management is one of the most important drivers of business profitability, cash flow strength and resilience during periods of rising costs. Stock represents cash that has been converted into goods, and if those goods are not sold promptly the business can experience avoidable financial pressure.Slow moving stock ties...

March 26, 2026

Rolling over capital gains

Rolling over capital gains can be an effective way for business owners to defer Capital Gains Tax (CGT) when selling or disposing of certain business assets. This is done using Business Asset Rollover Relief which allows taxpayers to postpone the tax on gains if all or part of the proceeds...

March 26, 2026

Could you claim the Marriage Allowance

The Marriage Allowance applies to married couples and civil partners where one partner does not pay Income Tax, usually because their income is below the personal allowance. For the 2025–26 tax year, this means the lower-earning partner must earn less than £12,570. The figures remain the same for the upcoming...

March 26, 2026

MTD for Income Tax – are you affected?

If you have not yet checked whether you need to use Making Tax Digital (MTD) for Income Tax, now is the time to urgently see if you are affected. The Income Tax reporting requirements for some self-employed individuals and landlords will change significantly from 6 April 2026. MTD for Income...

March 26, 2026

VAT recovery on car leasing

The VAT treatment of car leasing is an important consideration for businesses that incurs VAT on these costs. In general, leasing companies are able to recover the VAT incurred on the purchase of cars, provided the vehicles are leased out at a commercial rate. For businesses leasing a car, however, the position...

March 23, 2026

Cash flow challenges facing small businesses

Cash flow remains one of the most significant challenges facing small businesses in the UK. Even profitable businesses can encounter difficulties if income is received later than expected or costs increase unexpectedly. The timing of cash movements is often more critical than overall profitability, particularly where businesses operate with limited...

March 23, 2026

Ways businesses can reduce fuel bills

Tensions in the Middle East have increased concerns about potential disruption to global oil supplies. Even where physical shortages do not arise, uncertainty can still push up fuel prices and increase operating costs for UK businesses. Planning ahead can help reduce exposure to rising costs and protect margins. Simple changes...

March 19, 2026

Tax on inherited property, money or shares

As a general rule, someone who inherits property, money or shares is not liable to pay tax on the inheritance itself. This is because any Inheritance Tax (IHT) due is normally paid out of the deceased’s estate before assets are distributed to beneficiaries. However, the recipient may be liable to...

March 19, 2026

How long should you keep your tax records

Following the deadline for submission of self-assessment tax returns for the 2024–25 tax year, it is a useful time to revisit the rules on how long you should keep your tax records. There are no strict requirements for how records must be kept, but they should be retained either on paper,...

March 19, 2026

Estimate your Income Tax for the current tax year

If you are concerned by the continuing pressures on your take-home pay and need some certainty on your Income Tax liability, the HMRC calculator available at https://www.gov.uk/estimate-income-tax can be helpful. Alternatively, if you believe you may have overpaid tax, reviewing your position could help you claim a refund. The 'Estimate...

March 19, 2026

Companies House blunder

A Companies House blunder has raised concerns after a flaw in the WebFiling service briefly exposed sensitive company data. The issue, identified on 13 March 2026, meant that a logged-in user could potentially access and amend limited details of another company by carrying out a specific sequence of actions. Companies...

March 18, 2026

When is a “self-employed” contractor a de facto employee?

The employment status of a former bricklayer was recently called into question in establishing liability for asbestos exposure. The widow of the late Mr. Eric Alger, who died from mesothelioma, sought access to historical Employer’s LiabilityInsurance. Mr. Alger had been contracted to work on a major refurbishment project in 1988....

March 17, 2026

Business solvency, why it matters

Business solvency refers to a company’s ability to meet its financial obligations as they fall due and to maintain a healthy balance between its assets and liabilities. It is one of the key indicators of financial stability and is essential for the long term survival of any business. A solvent...

March 17, 2026

Exit planning, an essential step for business owners

Many business owners spend years building their companies but give far less attention to planning how they will eventually exit. In reality, a successful exit rarely happens by chance. It usually requires careful preparation several years in advance. For most owners the business represents their largest financial asset. Without proper...

March 13, 2026

Tax Diary April/May 2026

1 April 2026 - Due date for corporation tax due for the year ended 30 June 2025.19 April 2026 - PAYE and NIC deductions due for month ended 5 April 2026 (If you pay your tax electronically the due date is 22 April 2026).19 April 2026 - Filing deadline for...

March 12, 2026

Seven million people started new jobs in 2025

New figures published by HMRC show that more than 7 million people started a new job in 2025, an increase of around 300,000 compared with the previous year. The announcement also highlights the growing number of people moving into new roles or careers. According to HMRC, the spring months are...

March 12, 2026

Tax allowances frozen for 2026-27

It was confirmed as part of the Autumn Budget that the Income Tax thresholds will continue at their current levels for a further three years, extending the freeze until April 2031. This means that most tax allowances are to remain frozen for 2026-27 and beyond. As a result, the personal...

March 12, 2026

Changes to the calculation of Income Tax

A number of changes to the taxation of dividends, property income and savings income were announced in the Autumn Budget 2025. These measures will affect the rates at which different types of income are taxed and will be introduced in stages over the next few years. From April 2026, the...

March 12, 2026

Increase in company late filing penalties

After the end of its financial year, a private limited company must prepare full annual accounts and submit a company tax return. In most cases, the tax return must be filed within 12 months of the end of the accounting period it covers, and filing must be completed online. There...

March 9, 2026

Accelerate Return on Investment

The speed with which a business can achieve a return on investment is often just as important as the size of the return itself. When investments begin generating benefits quickly, the financial impact can be felt much sooner, improving cash flow and strengthening overall business resilience. In periods of economic...

March 9, 2026

Reducing energy consumption

Reducing energy intensity is one of the most practical ways for small businesses to protect themselves from rising energy costs, particularly if global energy markets remain unstable because of the ongoing conflict involving Iran. Oil prices have already surged sharply due to disruption in key supply routes such as the...

March 5, 2026

Meaning of “bona vacantia”

Bona vacantia is Latin term meaning “ownerless goods”. The bodies that deal with bona vacantia claims vary across the United Kingdom, but they all ultimately represent the Crown. Under company law, when a company is dissolved, any remaining rights or property automatically pass to the Crown as bona vacantia. This...

March 5, 2026

Reclaiming VAT on a self-build home project

Reclaiming VAT on a self-build home project can significantly reduce the overall cost of building or converting your property. The VAT DIY Housebuilders Scheme is a special VAT scheme that allows private individuals to benefit from the same VAT advantages as professional property developers. Under this scheme, the qualifying construction...

March 5, 2026

Claiming a tax refund from HMRC

If you have paid too much tax to HMRC, you may be able to claim a tax refund. Overpayments can happen for several reasons, such as a change in employment, being placed on the wrong tax code or failing to claim certain allowances or expenses. The way you claim depends...

March 5, 2026

Changes to reporting of BiKs

Mandatory payrolling of benefits in kind (BiKs) and taxable employment expenses will be introduced from 6 April 2027. This represents a major change in reporting and means that for most benefits, the annual P11D form will no longer be required from the start of the 2027-28 tax year. The requirement to report...

March 3, 2026

Spring Statement 2026

The Chancellor’s Spring Statement, presented to Parliament 3 March 2026, was packed with political content that has no real impact for UK taxpayers, business owners or employees. The substance of her presentation was a summary of the Office for Budget Responsibility (OBR) Economic and fiscal outlook released on the same...

March 3, 2026

Why disregarding the minimum wage constitutes modern slavery

The National Minimum Wage (NMW) Act 1998 remains contentious, especially after the introduction of the NMW (Amendment) Regulations 2025, as it draws the legal line in the sand between employment and slavery, as highlighted by a recent case. The claimant was born in the Philippines in 1990 and travelled to...

March 2, 2026

Renewed conflict in the Middle East

Renewed conflict in the Middle East is already having knock on effects for the global economy, and UK business owners are likely to feel the impact through higher costs and increased uncertainty rather than direct disruption. The most immediate pressure point is energy. The Middle East remains a critical region...

March 2, 2026

AI and the future of work: why healthcare remains resilient

As artificial intelligence becomes embedded in everyday business activity, many clients are asking how it might affect their industry and long term prospects. While some sectors face significant disruption, healthcare and social care stand out as the most resilient major industry as AI develops. The core reason is demand. Healthcare...

February 26, 2026

Tax effects of letting out part of your home

If you have tenants living in your property, it is important to understand the Capital Gains Tax (CGT) implications. In most cases, there is no CGT to pay when you sell a property that has been your main residence, as the gain is covered by Private Residence Relief (PRR). However,...

February 26, 2026

When not to charge VAT

When issuing invoices, it is important to apply the correct VAT treatment. In some cases, that means not charging VAT at all. Although most UK businesses charge VAT at the standard rate of 20%, there are other rates and categories that may apply. Understanding these distinctions can help you avoid...

February 26, 2026

Filling in NIC contribution gaps

National Insurance credits can help qualifying applicants to fill contribution gaps in their National Insurance record. This can help taxpayers increase their number of qualifying National Insurance years, which may increase the number of benefits they are entitled to, such as the State Pension. This could happen if someone was:...

February 26, 2026

How to claim child benefits

An application to claim child benefits can usually be made 48 hours after you have registered the birth of your child, or once a child comes to live with you. An application for child benefit can be backdated for up to 3 months. An application for child benefit is usually...

February 23, 2026

Creative businesses to benefit from government finance package

The government has announced a new package of measures designed to improve access to finance for creative businesses across the UK. The initiative aims to support firms operating in areas such as film, television, music, design, publishing, gaming and digital media, many of which face unique challenges when seeking external...

February 23, 2026

Why inflation matters when funding pension funds

When planning pension funding, inflation is often acknowledged but not always fully reflected in contribution decisions. Using an average inflation rate of around 5% over recent years helps to illustrate why this matters so much. Even when inflation appears to be easing in the short term, its long-term effect on...

February 19, 2026

Claiming the Annual Investment Allowance

The Annual Investment Allowance (AIA) is a generous tax relief that allows for the total amount of qualifying expenditure on plant and machinery to be deducted from pre-tax profits. The maximum amount that can be claimed for the AIA is limited to a £1 million annual cap on qualifying purchases....

February 19, 2026

Who needs to file a self-assessment tax return

There are several reasons why you might need to file a self-assessment tax return. This could apply if you are self-employed, a company director, have an annual income over £150,000, or receive income from savings, investments or property. You must file a self-assessment tax return if any of the following...

February 19, 2026

HMRC reminder for self-employed and landlords

If you have not yet checked whether you need to use Making Tax Digital (MTD) for Income Tax, you should do so urgently. HMRC has issued a timely reminder that for many self-employed and landlords the way to report tax to HMRC will change significantly from 6 April 2026.MTD for...

February 19, 2026

Check how to claim a tax refund

If you believe that you have overpaid tax to HMRC, you may be entitled to claim a tax refund. Overpayments can occur for a variety of reasons, including changes to employment, incorrect tax codes or unclaimed allowances. The process for making a claim will depend on whether you submit a...

February 16, 2026

New business formations exceed business “deaths”

The latest figures from the Office for National Statistics show that in 2025 the number of UK business births exceeded business deaths for a second successive year, pointing to a net increase in the total number of active enterprises. According to data from the Inter-Departmental Business Register, there were 313,715...

February 16, 2026

Business exit planning matters

For many business owners, the focus is firmly on growth, profitability and day to day operations. Exit planning is often treated as something to think about later, perhaps a few years before retirement or when a buyer appears. In reality, leaving exit planning until the end can significantly reduce the...

February 16, 2026

Intimidating claimants with costs orders may be at an end.

A claimant made allegations of unfair dismissal, discrimination, and detriment resulting from whistleblowing. While his claim against the Council was subsequently withdrawn early on, the claim against the private limited company proceeded.The respondent, however, argued that the claimant was a volunteer and that his claims were vexatious, threatening to apply...

February 12, 2026

Claiming Business Asset Rollover Relief

Claiming Business Asset Rollover Relief allows for the deferral of Capital Gains Tax (CGT) when taxpayers sell or dispose of certain assets and use all or part of the proceeds to buy new business assets. The relief means that the tax on the gain of the old asset is effectively...

February 12, 2026

Inheriting Additional State Pension

The Additional State Pension is only available to those who reached the state pension age before 6 April 2016 and are receiving the Old State Pension. The Additional State Pension is an extra amount of money paid on top of the basic Old State Pension. The Old State Pension is...

February 12, 2026

Sign up for online services

HMRC online services allow individuals, businesses and agents to manage tax matters securely over the internet. Using an HMRC online account, you can send information such as self-assessment tax returns or VAT registration applications, view important records like your business or personal tax account and make payments online. To access...

February 12, 2026

31 January deadline met by more than 11.48 million people

HMRC has confirmed that more than 11.48 million people submitted their 2024-25 self-assessment tax returns by the 31 January deadline. This included 475,722 taxpayers who left their filing until the final day and almost 27,456 that filed in the last hour (between 23:00 and 23:59) before the deadline! There are an...

February 11, 2026

Tax Diary March/April 2026

1 March 2026 - Due date for Corporation Tax due for the year ended 31 May 2025.2 March 2026 – Self-Assessment tax for 2024-25 paid after this date will incur a 5% surcharge unless liabilities are cleared by 1 April 2026, or an agreement has been reached with HMRC under...

February 9, 2026

Business rates support and cash flow for hospitality businesses

Hospitality businesses continue to operate in a challenging environment. Rising wage costs, energy prices and supply chain pressures have all placed strain on margins. Against this backdrop, recent business rates support measures offer welcome relief and can have a meaningful impact on cash flow and operating costs. For many pubs,...

February 9, 2026

Budgeting and forecasting in a period of lower confidence

Many business owners are entering the new year with a sense of caution. Confidence across the UK business community has softened, driven by continued cost pressures, uncertainty over tax policy and higher financing costs. In this environment, reviewing budgets and forecasts is not just a routine exercise, it is an...

February 5, 2026

Eligibility for Business Asset Disposal Relief

Business Asset Disposal Relief (BADR) can significantly reduce the Capital Gains Tax due when selling a business or shares, but with higher rates coming from April 2026, timing and eligibility matter more than ever. BADR applies to the sale of a business, shares in a trading company, or an individual’s...

February 5, 2026

Car and travel costs if self employed

If you are self-employed, it is important to understand which car and travel costs can be claimed. You can claim allowable business expenses for car, van, or travel costs, which reduce your taxable profit. Typical allowable costs include: Vehicle insurance Repairs and servicing Fuel Parking Hire charges Vehicle tax and...