Fixing problems with running payroll
Employers must report pay and deductions correctly to HMRC, but errors can usually be fixed in your next FPS. Employers need to use payroll software or other payroll services to record employees pay,
Unused pension funds and IHT from April 2027
From 6 April 2027, new measures first announced in the Autumn Budget 2024 will come into force. These changes will bring most unused pension funds and death benefits into the scope of Inheritance Tax
What if your pension contributions are excessive?
You can claim tax relief on pension contributions up to 100% of earnings, but exceeding the annual allowance may trigger charges. Tax relief is paid on pension contributions at the highest rate of
MTD for IT taxpayer exemption
From April 2026, the self-employed and landlords must use MTD for IT, but exemptions may apply in limited cases. If you are self-employed or a landlord with income over £50,000, you will need to
Corporation tax roadmap
With a £50bn shortfall looming, the Chancellor may need to revisit last year’s Corporation Tax roadmap commitments. As this year’s Autumn Budget approaches, it is an interesting time to revisit the
What are the current Income Tax bands and allowances?
Income Tax applies to earnings, pensions, savings, dividends and more, with different bands across the UK nations. Individuals can be liable to Income Tax at any age. There are special rules to stop
How to gain a competitive advantage
In every market, businesses face competition. Some competitors may be larger, others may have deeper pockets, but gaining a competitive advantage is not always about size or spending power. It is
Why increasing an overdraft to fund losses is a dangerous game
Many business owners see their bank overdraft as a flexible safety net. When cash runs short, the temptation is to ask the bank for a higher limit to keep things moving. While this can provide
Tax Diary September/October 2025
1 September 2025 - Due date for corporation tax due for the year ended 30 November 2024. 19 September 2025 - PAYE and NIC deductions due for month ended 5 September 2025. (If you pay your tax
Applying for Home Responsibilities Protection
Did you know a missing Home Responsibilities Protection (HRP) record could reduce your State Pension, but you may still have time to put it right. Home Responsibilities Protection (HRP) was a scheme