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…
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…
We are an Authorised Corporate Service Provider From 18 November 2026, Companies House will introduce mandatory Identity Verification (IDV) under the Economic Crime and Corporate Transparency Act. This is designed to improve transparency, reduce fraud, and strengthen trust in company…
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…
Employers have a duty to enrol eligible staff in a pension scheme. Staff are eligible if they are aged between 22 and state pension age and earn more than £192 per week (£833 per month). Where an employer takes on…
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,…
Personal and family companies often make loans to directors. However, there can be tax and National Insurance implications of doing so. Where the loan remains outstanding nine months and one day after the end of the accounting period in which…
Our Trusted Partner Adrian Berwick of AB HR Solutions has shared this article on the Employments Right Bill phaesd reform and roadmap. The Government has released its roadmap for proposed Employment law changes and with Royal Assent expected in September 2025, there…
Cars are a special case when it comes to capital allowances. While capital allowances may be claimed on cars used in a business, partners and sole traders have the option of using the simplified expenses system instead. Where the cash…
Although many companies are facing difficult times, some have managed to accumulate a sizeable amount of cash in their business’s current account. Leaving this cash where it is brings with it the impact of inflation eroding the amount, together with…
