Aynesley Walters Cohen Ltd - Chartered Accountants Croydon

September 17, 2026

Tax rules for cryptoassets set to change

The tax treatment of some crypto assets is set to change under draft legislation for Finance Bill 2026–27. The proposed changes include new rules for qualifying stablecoins, crypto asset loans and liquidity pools. Eligible stablecoins are expected to be treated more like money for Capital Gains Tax (CGT), Income Tax...

September 17, 2026

New duty on vaping products starts in October

Businesses in the vaping sector are reminded that the new Vaping Products Duty and the Vaping Duty Stamps Scheme will take effect from 1 October 2026. HMRC is urging manufacturers, importers, wholesalers and retailers to make sure they are ready for the introduction of the Vaping Products Duty and the...

September 17, 2026

HMRC targets persistent tax debts

HMRC is reviewing proposals to introduce new powers for recovering lower-value, persistent tax debts from individuals and businesses that repeatedly fail to engage with collection efforts. The proposals, set out in a public consultation earlier this year, would allow HMRC to recover debts through affordable monthly instalments taken directly from...

September 17, 2026

New self-assessment registration service launched

HMRC has launched an improved online service to make it easier for individuals to register for self-assessment. Anyone who needs to submit a tax return for the first time for the 2025–26 tax year should notify HMRC by 5 October 2026 to avoid a potential penalty. The new service is...

September 16, 2026

Training clawbacks can constitute an unlawful restraint of trade

Seeking to claw back training costs from wages is common practice. However, a recent ruling has set clearer boundaries as to how this can become an unenforceable restraint of trade. An appellant joined an IT services provider as a trainee quality assurance engineer and entered into an employment contract alongside...

September 14, 2026

New funding opens for growing businesses

The British Business Bank has launched a £210 million investment fund to help smaller businesses in the South East of England start, develop and grow. The South East Investment Fund will offer loans ranging from £25,000 to £2 million, together with equity investments of up to £5 million. The area...

September 14, 2026

Could simpler reporting reduce business paperwork?

The Government has announced plans to simplify corporate reporting and reduce the administrative burden placed on UK businesses. It estimates that the proposed reforms could save businesses more than £450 million each year. The measures are expected to include replacing some paper-based reporting with digital alternatives, simplifying existing requirements and...

September 11, 2026

Tax diary: October and November 2026

1 October 2026 – Corporation Tax payment is due for companies with an accounting period ending 31 December 2025, unless the company is required to make quarterly instalment payments. 5 October 2026 – Deadline for notifying HMRC of a new liability to Income Tax or Capital Gains Tax for the...

September 10, 2026

Are you paying your staff the correct minimum wage?

Employers must make sure their staff receive at least the National Minimum Wage or National Living Wage rate that applies to them. The correct rate depends on the worker's age and, in some cases, whether they are an apprentice. Since 1 April 2026, workers aged 21 and over are entitled...

September 10, 2026

When is a company dormant for Corporation Tax?

A company does not have to be formally closed to become dormant for Corporation Tax. A company is usually considered dormant if it has stopped trading and has no other income, such as investment income. A new limited company that has not yet started trading can also be dormant for...

September 10, 2026

When can a trading loss generate a tax refund

Making a trading loss whilst not ideal can sometimes generate a tax refund. If you are a self-employed individual or a member of a trading partnerships, a trading loss can potentially be set against other income or capital gains. This can reduce the amount of tax payable and, where tax...

September 10, 2026

Is your company paying Corporation Tax at the right rate?

The rate of Corporation Tax payable depends mainly on the level of a company’s taxable profits. The main rate is 25% and applies where profits exceed £250,000. Companies with profits of £50,000 or less generally pay Corporation Tax at the small profits rate of 19%. But note, these two thresholds...

September 7, 2026

Could company dividend rules be changing?

The Government has announced plans to consider major changes to the rules governing when companies can make distributions to shareholder. As part of a wider corporate reporting overhaul announced on 6 September 2026, the Government is considering replacing the existing rules on distributable profits and capital maintenance with a solvency-based...

September 7, 2026

Nearly 660 employers named for minimum wage failures

The Government has named nearly 660 employers for failing to pay workers the National Minimum Wage, highlighting how costly National Minimum Wage compliance failures can become. The latest naming round, published on 3 September 2026, involved around £4 million being repaid to more than 27,000 workers. Employers were also issued...

September 3, 2026

Predevelopment costs on major developments

Businesses planning major infrastructure and development projects should be aware of a new government consultation on the tax treatment of predevelopment costs. The consultation follows the conclusion of recent litigation at the Supreme Court. The Court found that certain early-stage surveys and studies for offshore wind farms did not qualify...

September 3, 2026

UK employers with overseas employees

UK employers with employees who normally work overseas may have PAYE and National Insurance obligations when those employees come to the UK to carry out their duties in the UK on a short-term basis. Employers should consider the position whenever an overseas employee visits the UK to work. The fact...

September 3, 2026

Received a P800 from HMRC?

HMRC is currently carrying out its annual reconciliation of PAYE for the 2025-26 tax year. Between June and November, HMRC calculates the Income Tax paid by individuals and checks whether the correct amount has been collected. Where HMRC identifies a difference, it may issue a tax calculation letter, known as...

September 3, 2026

Summer VAT relief has ended

The temporary 5% reduced rate of VAT introduced for certain children’s meals, tickets and family attractions ended on 1 September 2026. The relief applied from 25 June 2026 and was intended to reduce the cost of selected activities and services for families during the summer holidays. The relief covered qualifying...

September 2, 2026

When a discretionary bonus becomes enforceable

Where an employee is promised a discretionary bonus as an incentive, an employer may be held liable for the full figure if the preconditions have been met and the chain of authorisation is fully satisfied. Indeed, a recent ruling by a tribunal has made it clear that employers cannot unilaterally...

September 1, 2026

Company accounts are going fully digital

An important change is coming to the way companies file their annual accounts. From 1 April 2028, all UK-registered companies will be required to file their annual accounts with Companies House using commercial software. The existing web and paper filing routes for company accounts will close. The change will affect...

September 1, 2026

How Is Your Business Performing?

The latest figures from the Office for National Statistics suggest that conditions remain challenging for many UK businesses. In July 2026, 15% of trading businesses reported an increase in turnover compared with the previous month. However, 22% reported that turnover had fallen. Economic uncertainty remains an important concern, while businesses...

August 27, 2026

Benefits of claiming the Annual Investment Allowance

Businesses investing in qualifying assets may be able to claim the Annual Investment Allowance (AIA) and deduct the full cost of eligible purchases from their profits before tax. This can help by reducing the amount of taxable profit in the period the investment is made. The AIA can generally be...

August 27, 2026

Tax relief for uniforms and protective clothing

Employers providing uniforms or protective clothing to employees need to understand the tax and National Insurance rules that apply. The treatment depends on whether the clothing is required for the employee’s job, is a uniform worn only at work, or is simply additional clothing provided by the employer. Most uniforms...

August 27, 2026

What is a reasonable excuse for missing a tax deadline?

Missing a tax deadline can result in penalties from HMRC, but a taxpayer may be able to appeal if they have a genuine reasonable excuse. Whether an excuse is accepted depends on the individual facts and whether the taxpayer took action to put things right without unnecessary delay. HMRC does...

August 27, 2026

Recovering VAT on pre-registration costs

Businesses that register for VAT may be able to reclaim VAT paid on certain goods and services purchased before VAT registration. There are specific time limits for claiming pre-registration VAT. VAT on goods can generally be reclaimed where the goods are still held by the business or have been used...

August 24, 2026

Are your employment policies ready for workplace reforms?

Employment law continues to evolve, and businesses should keep a close eye on forthcoming changes that may affect the way they recruit, manage and retain staff. Although many of the proposed reforms are still being developed, employers should not wait until new legislation comes into force before reviewing their existing...

August 24, 2026

Could your business survive a cyberattack?

Cybercrime is no longer a problem that only affects large organisations. Increasingly, small and medium-sized businesses are becoming targets because criminals often see them as having weaker security and fewer resources to recover from an attack. A successful cyberattack can have serious consequences. Customer information may be stolen, computer systems...

August 20, 2026

Official rate of interest for beneficial loans

Employers providing loans to employees or directors need to ensure they correctly calculate any taxable benefit using HMRC’s official rate of interest. Where a loan is provided at no interest or at a rate below the official rate, a taxable benefit may arise. These types of loans are referred to...

August 20, 2026

Incorporation Relief may reduce your CGT bill

When a sole trader or the partners in a partnership transfer a business to a limited company, Capital Gains Tax (CGT) may arise. This is because business assets are normally treated as being transferred at their market value, which may be considerably more than their original cost. However, Incorporation Relief...

August 20, 2026

HMRC penalties for failing to notify a tax liability

If you become liable to pay a tax or register for a tax that HMRC has not already been informed about, you must notify HMRC within the relevant time limit. Failing to do so can result in a financial penalty in addition to the tax and any interest due. A...

August 20, 2026

Tax relief on pension contributions for employees

Receiving tax relief on pension contributions into a workplace pension is a great way to help prepare for retirement. In addition, contributions from your employer can make the pension savings even greater. If you are automatically enrolled into a workplace pension a percentage of your earnings is paid into your...

August 17, 2026

Why successful businesses prepare before conditions improve

Economic uncertainty has affected the confidence of many small business owners. Rising costs, changing customer demand and pressure on cash flow have led some businesses to postpone investment until conditions improve. While this cautious approach is understandable, waiting for the economy to recover before taking action can mean missed opportunities....

August 17, 2026

Could better digital skills transform your business?

Technology is changing the way businesses operate, and the pace of change is only increasing. While large organisations often have dedicated IT departments, many small businesses still rely on traditional methods that consume valuable time and limit productivity. Improving digital skills can help businesses work more efficiently, reduce costs and...

August 10, 2026

When do you pay Stamp Duty Land Tax?

Stamp Duty Land Tax (SDLT) is a tax that may apply when you buy land or property in England or Northern Ireland. It is important to check whether SDLT applies before completing a purchase, as the tax can represent a significant additional cost. SDLT can apply when you buy a...

August 10, 2026

Could you save tax by making a Deed of Variation?

After someone dies, the beneficiaries may find that the way an estate has been distributed does not reflect their wishes or the family’s circumstances. A Deed of Variation can allow beneficiaries to change how inherited assets are passed on and, in some cases, can help reduce the amount of tax...

August 10, 2026

Will your next finance application succeed?

Many successful businesses eventually reach a point where additional finance is needed. Whether the objective is purchasing equipment, expanding premises, recruiting staff or improving cash flow, access to funding can often determine how quickly a business can grow. Unfortunately, many applications are rejected, not because the business lacks potential, but...

August 10, 2026

Five practical ways to reduce business energy costs

Energy costs remain a significant overhead for many UK businesses. Although wholesale prices have eased from the exceptional highs seen in recent years, uncertainty in global energy markets means prices can still fluctuate sharply. For many small businesses, reducing energy consumption remains one of the simplest ways to improve profitability....

August 6, 2026

Budget date announced

The new Chancellor of the Exchequer, John Healey has confirmed, in a video message, that the next UK Budget will take place on Wednesday, 28 October 2026. Details of all the Budget announcements will be made on a special section of the GOV.UK website which will be updated following completion...

August 6, 2026

Are you paying unnecessary tax on foreign income?

UK taxpayers with income from overseas may not always be aware of the tax rules that apply. Foreign income is defined as any income from outside England, Scotland, Wales and Northern Ireland. The Channel Islands and the Isle of Man are classed as foreign. Different rules may apply if you’re...

August 6, 2026

Averaging profits if income fluctuates

Some self-employed individuals experience significant fluctuations in their profits from one year to the next. When this happens, HMRC’s averaging relief may help to regularise tax payments by levelling profits across more than one tax year. However, the relief is only available to limited groups of taxpayers. Farmers and market...

August 6, 2026

Claiming the correct tax relief for work mileage

Employees who use their own vehicle for business journeys may receive Mileage Allowance Payments (MAPs) from their employer. These payments can be made tax-free up to HMRC’s approved amount, calculated by multiplying business miles travelled by the relevant rate per mile. Effective since 6 April 2026, the approved mileage rate...

August 5, 2026

Take care when painting non-compete clauses with a broad brush

Protecting hard-won local customer networks is a constant and necessary battle for commercial suppliers. However, a recent High Court judgement has exposed the risks inherent in employing standard ‘boilerplate’ contracts to restrict departing sales staff. The dispute in focus was triggered when a national building supplies merchant sought final injunctions...

August 3, 2026

Why uncertain times make business planning more important

Economic conditions remain uncertain and many business owners are understandably cautious about the months ahead. Although there are signs of improvement in some sectors, rising costs, changing customer demand and ongoing economic pressures mean that confidence remains fragile. When uncertainty increases, it is tempting to postpone important decisions until conditions...

August 3, 2026

Is AI delivering real value for small businesses?

Artificial intelligence (AI) has dominated business headlines over the past year, with many suggesting it will transform the way companies operate. While there is no doubt that AI has enormous potential, recent research indicates that many small businesses have yet to experience significant commercial benefits. For some business owners, the...

July 30, 2026

Do you need to pay tax on money received from family?

Receiving money from a family member can be a welcome source of financial support, but many people are unsure whether they need to pay tax on it. In most cases, the person receiving a gift does not pay Income Tax on money given by family. However, the gift could have...

July 30, 2026

Tax benefits of giving assets to charity

Most people are aware that cash donations to a charity can qualify for tax relief. However, it is less well known that gifts of land, property and qualifying shares can also provide valuable tax advantages. If you donate land, property or shares to a UK charity, or sell them to...

July 30, 2026

Have you checked your State Pension forecast recently?

Your State Pension forecast can help you plan for retirement by showing how much State Pension you could be entitled to, when you can claim it and whether there are ways to increase your entitlement. The online forecast service https://www.gov.uk/check-state-pension allows you to check how much State Pension you could...

July 30, 2026

Payroll compliance – what is Full Payment Submission?

A Full Payment Submission (FPS) is a payroll report that employers must send to HMRC every time they pay employees. Using payroll software, employers use an FPS to report payments made, deductions from pay and National Insurance information, ensuring HMRC has an up-to-date record of their payroll obligations. This submission...

July 28, 2026

Rising employment costs are changing business decisions

Employment costs continue to rise, and many small businesses are feeling the impact. Higher wage bills, increased employment related costs and the expense of recruiting and retaining skilled employees are causing many owners to think more carefully about their growth plans. Recent business surveys suggest that employment costs have become...

July 28, 2026

Late payments still threaten small business cash flow

Late payments remains one of the biggest challenges facing small businesses across the UK. Even companies that are profitable on paper can find themselves under financial pressure if customers fail to pay their invoices on time. Recent reports suggest that thousands of smaller businesses continue to experience delayed payments, leaving...

July 23, 2026

Is HMRC holding money that belongs to you?

It is important to know if HMRC is holding money that belongs to you. For example, if you have paid too much tax to HMRC, you may be able to claim a tax refund (also known as a tax rebate). Overpayments can happen for a number of reasons, including changes...

July 23, 2026

Advising HMRC of change in circumstances

If your personal details or circumstances change, you may need to tell HMRC as this could affect your tax position or entitlement to certain benefits. You should notify HMRC if you get married or form a civil partnership, or if you divorce, separate or stop living with your husband, wife...

July 23, 2026

Self-Employed – Are your business records in order?

As a self-employed individual, whether a sole trader or partner, you must keep accurate records of your business income and expenses to back up your self-assessment tax return. You should also keep your personal income details up to date. Nominated partners will also need to keep partnership records. You can...

July 23, 2026

Does your business need to register as an employer?

If you are starting to employ staff or engaging subcontractors for construction work, you will generally need to register as an employer with HMRC. This obligation extends even to individuals who are the sole director of their own limited company, in other words, you must register even if you are...

July 22, 2026

Don’t let discrimination lead to resignation or risk facing career compensation

A recent ruling has cleared the path to uncapped financial compensation following a forced resignation. A longstanding social worker had complaints raised over her work by an interim service manager. The ensuing investigation, however, failed to inform her of the specific allegations, their source, or their scope. This covert enquiry...

July 20, 2026

Could new VAT rules change how you sell online?

The Government has launched a consultation on proposals that could significantly change the way VAT is collected on goods sold through online marketplaces. Although the changes are not yet law, they could affect thousands of UK businesses that use online platforms to reach customers. The consultation forms part of HMRC's...

July 20, 2026

Has a pay rise quietly increased your tax bill?

Many employees and business owners have welcomed higher earnings over the past few years. However, for a growing number of taxpayers, a larger salary does not necessarily mean significantly more money in their pocket. The reason is a process known as fiscal drag. Although tax rates have remained broadly unchanged,...

July 16, 2026

Could your business recover more VAT?

If your business is VAT registered, you can usually reclaim VAT on many of the goods and services you buy for business purposes. However, many businesses fail to claim everything to which they are entitled and may be able to recover more VAT. You can normally reclaim VAT on business...

July 16, 2026

Is your spouse paying more tax than necessary?

Married couples and civil partners are taxed separately for Capital Gains Tax (CGT), meaning each person has their own annual tax position. However, with careful planning, transferring assets between spouses or civil partners can sometimes help reduce their overall tax bill. Where spouses or civil partners are living together, most...

July 16, 2026

Could you claim tax relief for property repairs?

Property owners often incur costs for repairs, and understanding which costs can be deducted is important when calculating taxable property income. You can generally claim tax relief for repairs carried out on a property business, provided the cost relates to restoring or maintaining the property rather than improving it. A...

July 16, 2026

Are you maximising tax relief on company losses?

If your company makes a trading loss, it may be able to claim relief to reduce its Corporation Tax liability. Trading losses can often be used in different ways, depending on your company’s circumstances. A company may be able to use a trading loss against profits from the same accounting...

July 13, 2026

Could your business survive a cyber attack?

Cyber-crime is no longer a problem faced only by large organisations. Small businesses are increasingly being targeted because criminals often assume they have fewer security measures in place. A successful cyber-attack can disrupt operations, damage customer confidence and result in significant financial losses. Many attacks begin with something as simple...

July 13, 2026

Five ways AI can save you hours every week

Artificial intelligence (AI) is no longer just for large organisations. Many small businesses are now using affordable AI tools to reduce administration, improve customer service and free up valuable time to focus on growing their business. The key is to use AI as a business assistant rather than a replacement...

July 9, 2026

Could your savings generate a tax bill?

Most individuals can earn interest from their savings without incurring a tax liability thanks to a number of allowances available each tax year (from 6 April to 5 April). These include your Personal Allowance, the starting rate for savings, and the Personal Savings Allowance, with the amount you receive depending...

July 9, 2026

Selling shares this year?

If you are selling shares or other investments, you may incur Capital Gains Tax (CGT) on any profit, or 'gain', you make. You will need to work out your gain to determine if you need to pay tax, which depends on whether your total gains exceed your CGT allowance for...

July 9, 2026

Have you overlooked this valuable capital allowance?

If you have invested in a new commercial building or carried out significant renovation work, you may have overlooked a valuable capital allowance. The Structures and Buildings Allowance (SBA) provides tax relief on qualifying capital expenditure incurred on certain new non-residential structures and buildings. The SBA applies to qualifying costs...

July 9, 2026

Are you claiming all your allowable business expenses?

If you are self-employed, claiming all of your allowable business expenses can reduce your taxable profit and, in turn, the amount of Income Tax you pay. Allowable expenses are costs that are incurred wholly and exclusively for the purposes of your business. Typical business expenses that can be claimed include...

July 8, 2026

Tax Diary August/September 2026

1 August 2026 - Due date for Corporation Tax due for the year ended 31 October 2025. 19 August 2026 - PAYE and NIC deductions due for the month ended 5 August 2026. (If you pay electronically, the due date is 22 August 2026.) 19 August 2026 - Filing deadline...

July 6, 2026

When did you last check your credit rating?

Many business owners regularly monitor their bank balance, sales and cash flow, but overlook another important financial indicator, their credit rating. Whether you are applying for finance, negotiating with suppliers or seeking new business opportunities, your credit score can influence how others view your financial reliability. In the UK there...

July 6, 2026

Company filing penalties you should avoid

Most company directors are aware that they must file annual accounts and a confirmation statement with Companies House. However, missing these deadlines can lead to unnecessary costs and, in some cases, much more serious consequences. The most common financial penalties apply to the late filing of annual accounts. For a...

July 2, 2026

Meaning of Carried Interest

Carried interest is essentially a share of the profits from an investment fund that is paid to the fund managers. Unlike a fixed fee, its value depends directly on the fund's performance. This type of payment is considered carried interest if it is a profit-related return and meets a specific...

July 2, 2026

Construction Industry Scheme responsibilities

The Construction Industry Scheme (CIS) is used within the UK construction sector to help manage payments between contractors and subcontractors effectively. This scheme mandates that contractors deduct a portion of payments made to subcontractors, remitting these funds directly to HMRC. These deductions function as advance payments towards the subcontractor’s tax...

July 2, 2026

Don’t forget to pay your Class 1A NICs

Employers are reminded that Class 1A National Insurance contributions (NICs) for the 2025–26 tax year must be paid by 19 July 2026 (or 22 July 2026 if paying electronically) to avoid penalties. These payments relate to the benefits in kind provided to employees and directors, and on Class 1A NICs...

July 2, 2026

Meaning of Permanent Establishment

The term permanent establishment (PE) is an important tax concept for businesses that operate across international borders. In simple terms, it determines whether a business has created a sufficient presence in another country for its profits to be taxed there. The concept is used by HMRC to determine if a...

June 29, 2026

Are you too dependent on one customer?

Many successful businesses begin by working closely with one major customer. While this can provide valuable income and stability in the early years, becoming too dependent on a single customer can create significant risks if circumstances change. If one customer accounts for a large proportion of your turnover, the loss...

June 29, 2026

Five ways to improve customer retention

Winning new customers is important, but many businesses overlook the value of keeping the customers they already have. Existing customers are often more likely to buy again, recommend your business to others and spend more over time. Improving customer retention can therefore have a significant impact on profitability without increasing...

June 25, 2026

Company mobile phones and tax implications

When employers provide mobile phones to employees, it is important to understand the tax treatment that applies to both the device and any related costs. The rules also differ where employers reimburse employees for their personal mobile phone expenses. HMRC provides a specific exemption where an employer supplies one mobile...

June 25, 2026

Understanding dividend tax

Understanding dividend tax is important for anyone who receives income from shares in a company. Dividends are taxed differently from salary, pensions and other forms of income, with their own allowances and tax rates. For the 2026-27 tax year, individuals do not pay tax on dividend income that falls within...

June 25, 2026

Tax relief on professional subscriptions

Employees may be entitled to tax relief on certain professional fees and subscriptions that they pay personally. The relief is available where membership of a professional body is required for an individual to carry out their duties, or where annual subscriptions are paid to an HMRC-approved professional organisation or learned...

June 25, 2026

Investment Manager Exemption (IME)

The Investment Manager Exemption (IME) is a long-standing HMRC concession that helps attract international investment in the UK. It allows overseas investors to appoint UK-based investment managers without automatically creating a UK tax liability for the investor. Without the exemption, there is a risk that investment activities carried out by...

June 22, 2026

Companies House steps up enforcement activity

Companies House is entering a new era of enforcement as it begins making greater use of the powers granted under the Economic Crime and Corporate Transparency Act. The aim is to improve the accuracy of the Companies House register, strengthen confidence in UK businesses and help tackle economic crime. For...

June 22, 2026

The benefits of Fair Payment Code accreditation

Getting paid on time remains one of the biggest challenges facing many small and medium-sized businesses. Late payments can place pressure on cash flow, increase borrowing requirements and divert valuable management time away from running and growing the business. Against this backdrop, Fair Payment Code accreditation is becoming an increasingly...

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...