State pension entitlement depends on a person having sufficient qualifying years, which in turn depends on them having paid or been treated as having paid sufficient National Insurance contributions. A person will receive the full single tier state pension (also known as…
As the tax year draws to a close, directors of personal and family companies should consider whether it is worthwhile paying a dividend before 6 April 2026. However, it is only possible to pay a dividend where the company has sufficient…
As the end of the 2025/26 tax year approaches, it is a good idea to undertake a financial review and assess whether there is any action you can take to cut your tax bill. Tip 1 – Don’t waste your personal allowance If you…
What are the advantages for your business? With costs rising, many employers and employees are looking for practical ways to reduce outgoings without cutting benefits. Salary sacrifice can be an excellent tool to do this, but many businesses overlook it. …
It is becoming increasingly noticeable that after a purchase is made in a shop or restaurant, the customer is asked ‘Do you want a receipt?’. Answering ‘no’ may help reduce paper, but business customers intending to claim against tax should…
Unincorporated landlords pay income tax on the profits of their property rental business. This is currently at the normal income tax rates. However, this is set to change from 6 April 2027 when property income will have its own tax…
In her tax-raising Budget on 26 November 2025, the Chancellor announced that the dividend ordinary rate and the dividend upper rate are to rise by two percentage points from 6 April 2026. This will affect director/shareholders in personal and family…
Should any taxpayer find they are struggling to pay their tax bills by the usual deadlines, there are official ways to spread the payments. How such payments are made depends upon the type of tax owing, the amount outstanding and…
A director’s loan account is simply a means of keeping track of transactions between the director and the company of which they are a director. Where the company is a personal or family company, the director may borrow from the…
Many employers have a social event for employees around the Christmas period. This may take the form of a Christmas party or dinner or another social event, such as wreath-making and cocktails. When planning the event, it is important to…
