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Fiscal drag explained
The freezing of tax thresholds can result in a phenomenon commonly referred to as ‘fiscal drag’. This occurs when tax allowances and rate bands remain unchanged while wages and inflation increase. As
VAT Cash Accounting
The VAT Cash Accounting Scheme can help businesses improve cash flow by allowing VAT to be accounted for when customers actually pay invoices, rather than when invoices are issued. This can be
Making Tax Digital – which software to use
Making Tax Digital (MTD) for Income Tax is now in force for many self-employed individuals and landlords. Since 6 April 2026, taxpayers with qualifying business or property income exceeding £50,000
Landlord tax and National Insurance considerations
When renting out property, landlords may have both Income Tax and National Insurance considerations to consider. However, rental income is generally taxable.
For individuals, the first £1,000 of
Can you claim Business Asset Disposal Relief
Business Asset Disposal Relief (BADR) applies to the sale of a business, shares in a trading company, or an individual’s interest in a trading partnership. When this relief is available, a reduced 18%
New employers check list
Taking on your first employee can help a business grow, although it also brings a number of important responsibilities.
Before employing staff for the first time, business owners should consider the
Can a tribunal be fair after all is long said and done?
Employment disputes can drag on for years, which inevitably raises the question of how long is too long for a hearing to be deemed fair. Mr. Boateng was originally employed in January 2017 by a
Covering basic business risks
Many business owners spend considerable time focusing on sales growth, staffing and profitability, although basic business risks are sometimes overlooked until a problem arises. A simple review of key
Tax-free gifts for Inheritance Tax purposes
Making gifts during your lifetime can be an effective way to reduce the value of your estate for Inheritance Tax (IHT) purposes.
One of the most commonly used exemptions is the annual exemption. This