Category: Regulatory
Making Tax Digital 2026: Everything You Need to Know
Making Tax Digital (MTD) becomes mandatory from April 2026. If you're self-employed or a landlord, this change will affect how you report your income to HMRC without doubt. MTD for Income Tax will apply to those with qualifying income above £50,000 at first. The threshold expands to include those earning above £30,000 from April 2027...
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2026/2027 Tax Rates and Allowances
The tax year runs from 6 April. Here’s an overview of the main tax rates, allowances and national Insurance contributions that you need to be aware of for the tax year starting 6 April 2026. If you have any questions, would like to understand what rates specifically apply to yourself, or what allowances are available, please get in t...
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Should Your Business Buy an Electric Car in 2026?
Electric vehicles have long been considered an attractive option when purchased through a limited company. But in 2026, is that still the case? The tax benefits are clear. Fully electric company cars will have just a 4% Benefit-in-Kind tax rate in April 2026. Traditional petrol and diesel vehicles face much higher rates between 20% and...
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Staff vs Client Lunch: Your HMRC Tax Claims Explained
There’s no such thing as a free lunch. Well, there could be, but it depends on the details. Many business owners make the mistake of thinking all staff and client lunches can be recorded as an allowable expense claim with HMRC. Unfortunately, it’s not that simple. HMRC rules focus on whether your meal expenses serve "wholly and ...
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Inside or Outside IR35? Crack HMRC’s Rules with This Checklist
Over the past few years, IR35 has been a hot topic. The private sector underwent a major change in April 2021. Medium and large-sized businesses, not contractors, now determine IR35 status. This has created extra complexity. Recruitment agencies face this challenge more acutely, as they could receive hefty tax bills when end clients make ...
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Accounting Mistakes That Cost Small Businesses Big
Small businesses can face devastating financial consequences from accounting mistakes that often go undetected until serious issues arise. These problems usually surface when tax bills arrive, deadlines pass, or funding applications need review. Poor cash flow management can get pricey and create tax complications. In extreme cases, it mi...
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PAYE Settlement Agreements Explained: Save Time and Money on Employee Benefits
Would you like to reduce your tax obligations whilst increasing benefits to your employees? If that appeals, then PAYE settlement agreements could be something of interest. PAYE settlement agreements let you make one annual payment to HMRC. This eliminates the need to process multiple employee benefits through payroll or P11D forms. Yo...
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Contract Law UK: Your Informal Communications Could Be Legally Binding
Are you aware your casual WhatsApp messages and emails might create legally binding agreements? Did you know that UK contract law allows informal communications to establish enforceable contracts. In fact, the Court of Appeal showed this in a notable case. A binding contract emerged from email exchanges, WhatsApp messages, and phone ca...
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Business Legal Services: Essential Protection Your Company Shouldn’t Ignore
Your company needs proper business legal services to stay protected. Small startups and large enterprises alike face challenges in the legal world without expert guidance. People often think legal services are there to help manage crises, but good legal support should ensure you don’t find yourself in that position to start with. The...
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Making Tax Digital
Making tax digital – current requirements All vat registered businesses with a taxable turnover above the vat threshold of £85,000 are now required to follow the mtd rules. This means: They must keep digital records They must make more frequent submissions (quarterly) They must use software to make submissions to hmrc e....
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