Business

Time to Pay for Simple Assessment 

A Simple Assessment is used for taxpayers with very straightforward tax affairs. A taxpayer may receive a Simple Assessment letter from HMRC if they owe income tax that cannot be taken out of their income automatically, they owe HMRC more…

Effective date of VAT registration 

Businesses must register for VAT when their turnover exceeds the registration threshold (currently £90,000). This must be done if, at the end of any month, the taxable supplies in the previous 12 months or less exceed the registration threshold or…

Business Rates: Revaluations Coming in 2026

How will your business be affected? The Valuation Office Agency (VOA) is encouraging businesses to sign up for a business rates valuation account so they can find out their new commercial property valuation. Every three years the VOA updates the…

Tax-free trivial benefits

The tax exemption for trivial benefits is a useful one as it allows employers to provide certain low-cost benefits to employees without an associated tax or National Insurance liability, such as Christmas or birthday gifts. However, not all benefits qualify,…