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Why filing early makes sense

15-05-25

Filing your 2024-25 Self-Assessment return early means faster refunds, better budgeting, and no deadline stress. Do not delay, start gathering your tax details today. The 2024-25 tax year officially ended on 5 April 2025, with the new 2025-26 tax… Read more..

Save up to £2,000 a year on childcare costs

15-05-25

Is your child starting school this September? Tax-Free Childcare could save you up to £2,000 a year. Check your eligibility now and start planning ahead. Working families whose children are starting school for the first time September 2025 could… Read more..

MTD for Income Tax deadline is approaching

15-05-25

MTD for Income Tax starts 6 April 2026 for the self-employed and landlords with £50k+ income. Plan early to stay compliant and avoid disruption. MTD represents one of the most significant overhauls to the self-assessment regime since its… Read more..

HMRC interest rates following Bank of England rate cut

15-05-25

Following a Bank Rate cut to 4.25%, HMRC late payment and repayment interest rates will drop from 19 and 28 May 2025. Check which taxes this affects. The Bank of England’s Monetary Policy Committee (MPC) met on 8 May and, in a narrow 5-4 vote,… Read more..

Deadline for paying Class 1A NIC

15-05-25

Employers must pay Class 1A NICs on 2024-25 benefits by 19 July (22 July if paying electronically). Avoid penalties by meeting deadlines and using correct references. Employers are reminded of the upcoming Class 1A National Insurance contributions… Read more..

The transition from FHL to Property Rental business

15-05-25

Tax perks for Furnished Holiday Lets have ended. From April 2025, lettings fall under standard rental rules. Check the transition rules to avoid surprises. The tax advantages that were previously available to property owners letting their properties… Read more..

When can you deregister for VAT?

15-05-25

Considering VAT deregistration? Whether compulsory or voluntary, knowing the rules, deadlines and risks of delay can save your business from costly penalties. The decision to deregister for VAT may be necessary or beneficial in a range of… Read more..

The importance of discretion – don’t send inappropriate messages during working hours!

15-05-25

An Employment Tribunal confirmed that using an employer's preferred method of communicating with employees to send offensive messages can serve as a ground for dismissal. A claimant was employed from September 2017 as a graduate trainee and then as a… Read more..

Landmark economic deal with United States

12-05-25

On 8 May 2025, the UK government announced a landmark trade agreement with the United States, aimed at reducing tariffs and bolstering key British industries. This deal is projected to save thousands of jobs, particularly in the automotive and steel… Read more..

Still recording your accounts on spreadsheets?

12-05-25

For small and medium-sized enterprises (SMEs), adopting accounting software offers a range of practical benefits that help streamline financial management, reduce errors, and improve decision-making. Here are the key advantages: Time-Saving… Read more..

How to check employment status

08-05-25

HMRC’s CEST tool gets a revamp from 30 April 2025, with clearer questions and updated guidance to help users decide employment status for tax—plus stronger backing from HMRC. In a Written Ministerial Statement delivered on 28 April, the… Read more..

Reversal of requirement to report more detailed employee hours paid

08-05-25

The government has scrapped plans for detailed PAYE reporting of employee hours from April 2026, citing concerns over cost, complexity, and practicality. Employers will stick with current rules. As part of the Spring 2025 Tax Update: Simplification,… Read more..