Aynesley Walters Cohen Ltd - Chartered Accountants Croydon

June 18, 2026

Tax-free benefits in kind from your employer

The range of benefits that can be provided tax-free by an employer is relatively limited, but there are several common exemptions that apply where certain conditions are met. Meals provided in a staff canteen can be exempt where they are offered to all employees on a reasonable scale and are...

June 18, 2026

Claiming tax relief on charitable donations

When you donate money to a charity or Community Amateur Sports Club (CASC) under Gift Aid, the organisation can claim an extra 25p from HMRC for every £1 you give. This increases the value of your donation at no extra cost to you. If you pay higher or additional rate...

June 18, 2026

Understanding your tax code

Your tax code tells your employer or pension provider how much Income Tax to deduct from your pay. It is set by HMRC, and you may have a different code for each job or pension. Most people with one job (or pension) use the code 1257L, which reflects the standard...

June 18, 2026

Salaried members of LLPs

Members of a Limited Liability Partnership (LLP) are normally treated as self-employed for tax purposes. However, special rules can apply where a member's terms of membership are more akin to the terms of an employee than a partner in a traditional partnership. These are known as salaried members. The legislation...

June 17, 2026

The corporate manual, not time and motion studies, defines employment roles

Equal pay claims can grind on for years before resolution. However, the ground has shifted since the Court of Appeal (CoA) took Tesco’s own operating and training manual as the definitive source on employee roles rather than any granular analysis of their activity. This claim began in 2018 when almost...

June 15, 2026

Could exporting help your business grow?

Many small business owners assume that exporting is something reserved for larger companies with dedicated sales teams and substantial resources. In reality, advances in technology, online marketplaces and international logistics have made overseas markets more accessible than ever, creating opportunities for businesses of all sizes. Finding new customers is often...

June 15, 2026

Profit and loss accounts to be filed from April 2028

The Government has confirmed that important changes to Companies House filing requirements will now take effect from April 2028 (rather than April 2027), giving small companies and micro-entities additional time to prepare for the new rules. One of the most significant changes is the requirement for small companies and micro-entities...

June 11, 2026

Self-assessment tax penalties

If you are required to complete a self-assessment tax return, HMRC may charge penalties if you miss the deadline for making a filing or payment. There are also penalties if you fail to register on time for self-assessment. If you register late and do not pay your tax bill by...

June 11, 2026

Can you claim R & D relief?

Research and Development (R&D) tax relief is designed to support companies that invest in innovation and seek to make advances in science or technology. The scheme offers businesses the ability to invest in new technologies and scientific development in exchange for generous tax reliefs. However, not every project will qualify,...

June 11, 2026

When to consider voluntary National Insurance

Many people are unaware that gaps in their National Insurance (NI) record can affect their entitlement to the State Pension and certain state benefits. In some cases, it may be worthwhile to consider making voluntary NI contributions to fill these gaps. Gaps can arise for a number of reasons, including...

June 11, 2026

Tax when selling overseas property

UK residents are generally liable to Capital Gains Tax (CGT) when they dispose of overseas property at a gain. A disposal includes selling, gifting, or otherwise transferring ownership of a property located outside the UK. CGT is chargeable on the profit made on the disposal at 18% for basic rate...

June 8, 2026

Government Backing your Business programme

The government continues to place growing emphasis on supporting smaller businesses through its “Backing Your Business” programme, which is designed to encourage growth, investment and long term resilience across the UK business sector. The programme brings together a range of initiatives aimed at helping businesses deal with some of the...

June 8, 2026

Companies House ID verification

Major changes are continuing at Companies House as part of the government's efforts to improve corporate transparency and tackle economic crime. One of the most significant developments is the introduction of compulsory identity verification for company directors and Persons with Significant Control (PSCs). The transition period is now underway, and...

June 8, 2026

Tax Diary July/August 2026

1 July 2026 - Due date for corporation tax due for the year ended 30 September 2025. 6 July 2026 - Complete and submit forms P11D return of benefits and expenses and P11D(b) return of Class 1A NICs for 2025-26. 19 July 2026 - Pay Class 1A NICs for 2025-26...

June 4, 2026

Allowable expenses for the self-employed

If you are self-employed, claiming all of your allowable business expenses can significantly reduce your tax bill. For example, if your business turnover is £40,000 and you have £10,000 of allowable expenses, you will only pay tax on your taxable profit of £30,000. However, personal spending and money withdrawn from...

June 4, 2026

Are you affected by the High Income Child Benefit Charge?

Families claiming Child Benefit should be aware of the High Income Child Benefit Charge (HICBC), which can apply when one member of the household has a higher income. The charge applies where an individual has adjusted net income of more than £60,000 in a tax year and either they or...

June 4, 2026

Pension tax relief and allowances

Pensions remain one of the most tax-efficient ways to save for retirement, due to a range of tax reliefs and allowances that can help boost retirement savings. One of the key advantages of private pension contributions is the availability of tax relief on pension contributions. Individuals can usually receive tax...

June 4, 2026

A reminder to consider the Marriage Allowance

Many married couples and civil partners could be missing out on valuable tax savings available by claiming the Marriage Allowance. If your circumstances are suitable, this is a reminder to consider the Marriage Allowance, as a simple claim could reduce your tax bill by up to £252 during the 2026-27...

June 3, 2026

Where a formal job offer effectively creates a binding contract

In the world of HR, the ubiquitous disclaimer "subject to references" is often viewed by employers as an escape clause, one which allows them to withdraw an offer at any time before “Day One”. However, a recent ruling has clarified that a conditional offer can become a binding legal contract...

June 1, 2026

Government reviews access to face-to-face banking services

The government has announced a review into access to face-to-face banking services as concerns continue to grow over the impact of bank branch closures on local communities, older customers and small businesses. Over recent years, many high street bank branches have closed as more customers move towards online and mobile...

June 1, 2026

Companies House publishes its business plan

Companies House has published its business plan for 2026-27, setting out its priorities for the coming year as it continues to implement major reforms aimed at improving the quality of information held on the UK companies register and tackling economic crime. A key objective is to improve the accuracy, reliability...

May 28, 2026

A reminder of tax-free trivial benefits

Employers looking to provide staff with small gifts or seasonal tokens of appreciation should remember the rules for tax-free trivial benefits. A benefit can qualify as a trivial benefit where all of the following conditions are met: the benefit costs £50 or less; it is not cash or a cash...

May 28, 2026

Key person policies and tax relief

Many businesses take out “key person” insurance policies to protect against the financial impact of losing an important employee, director or other individual who is central to the success of the business. These policies may provide cover for death, critical illness, sickness, accident or injury. Whether tax relief is available...

May 28, 2026

Government measures to ease rising fuel costs

The government has announced a package of measures intended to help motorists and businesses manage rising fuel costs following disruption linked to the conflict in Iran. As part of the package, the temporary 5p fuel duty cut has been extended until the end of 2026. The government estimates that the...

May 28, 2026

Increase in approved mileage rates

The Chancellor of the Exchequer, Rachel Reeves updated Parliament on 21 May 2026 on the Government’s economic response to the war in Iran and the wider measures being taken to support households and businesses with rising cost pressures. One of the measures announced was an increase in approved mileage rates...

May 25, 2026

New measures aimed at easing living costs

The Government has announced a new package of measures designed to help households manage rising living costs during the summer months, as concerns continue over inflation, fuel prices and household spending pressures. The package, described as the “Great British Summer Savings Scheme”, includes free bus travel for children aged 5...

May 25, 2026

Tougher action on late payments

The Government has introduced a landmark new Bill aimed at tackling the growing problem of late payments to small businesses, with ministers describing the measures as the biggest crackdown in more than 25 years. Late payment remains one of the most significant pressures facing smaller firms, particularly at a time...

May 21, 2026

Can you claim Business Asset Disposal Relief

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) applies. To qualify for BADR, certain conditions must be met:...

May 21, 2026

Verify your ID at Companies House

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. Companies House is introducing the new requirements on a phased basis and affected individuals are...

May 21, 2026

Fiscal drag explained

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 paying tax or moving to higher tax bands, despite there being...

May 21, 2026

Making Tax Digital – which software to use

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 quarterly updates to HMRC using compatible software. The threshold is scheduled to...

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...