Extension of Making Tax Digital
Under Making Tax Digital for Income Tax Self Assessment (MTD for ITSA), sole traders and unincorporated landlords within its scope will be required to keep
National Insurance for employers to rise
One of the key announcements in the Autumn 2024 Budget was the rise in employer’s National Insurance contributions from 6 April 2025. Since then, the
Entitlement to State Pension – do you have missing National Insurance Contribution years?
Entitlement to the full state pension depends on having sufficient qualifying years. Where a person reaches state pension age on or after 6 April 2016,
Tax-efficient Christmas parties and gifts
Employers looking to spread some seasonal cheer can do so in a tax-efficient manner by taking advantage of the exemptions for annual parties and functions
File your tax return by 30 December to pay what you owe through PAYE
If you pay tax through PAYE, as will be the case if you are an employee or a pensioner, you may need to complete a
Setting up as a sole trader
When starting a business, there are a number of ways in which this can be done. Options include operating as a sole trader, forming a
Overdrawn director’s loan account – must your company pay tax on the balance?
In personal and family companies, the lines between the company’s finances and the director’s finances may become blurred. A director may withdraw money from the
Restarting child benefit claims
Many parents who fell within the ambit of the High Income Child Benefit Charge (HICBC) opted not to receive child benefit, rather than to receive
Realistic scam letters – how to check if a letter purporting to be from HMRC is genuine
Scammers are becoming increasingly adept at fooling people and a favoured tactic is a letter, a text or an email purporting to be from HMRC,
Making a voluntary disclosure if you have not told HMRC about tax that you owe
There are various reasons why a person may not have told HMRC about the tax that they owe, ranging from a simple oversight to the
Tax implications of building an office for home working
Following the pandemic, flexible working hours are on the increase. This shift has provided employees with the legal right to request flexible working from the
Tax planning for trading losses
A sole trader or partnership business may make a loss for several reasons – not necessarily because it is not doing well. A business can