Company directors who complete a self-assessment tax return should be aware of new mandatory reporting requirements that came into effect from the 2025-26 tax year. The changes mainly affect directors of close companies, including many owner-managed
More...Taxpayers who need to pay the High Income Child Benefit Charge (HICBC) for 2025-26 may be able to pay it through PAYE rather than completing a self-assessment tax return solely to report the charge. The HICBC applies where an individual or their
More...You may have to pay Income Tax on your pension if your total annual taxable income exceeds your Personal Allowance. This applies whether you receive the State Pension, a workplace pension or a personal pension. Your total taxable income can include
More...HMRC has revealed that it had £42.8 billion in outstanding tax debt at the end of March 2025, equivalent to 5% of total tax receipts. The figures appear in its corporate report, The HMRC tax debt strategy - update. The report also highlighted
More...Cryptoassets can create unexpected tax liabilities. HMRC’s guidance highlights several areas where mistake can be made. Assuming crypto-to-crypto exchanges are tax-free. Exchanging one type of cryptoasset for another can count as a disposal for
More...Alternative providers of higher and further education may be able to claim refunds of VAT following a recent Court of Appeal ruling, although the position remains subject to further legal proceedings. HMRC recently published a brief explaining the
More...Late payment of invoices remains one of the most persistent problems facing UK small businesses, and recent research suggests the situation is becoming increasingly difficult. 60% of UK small and medium-sized businesses report that customers are
More...Business confidence across the UK is showing signs of improvement, although many smaller businesses remain reluctant to commit money to new investment. The latest British Chambers of Commerce Quarterly Economic Survey, published in October 2026,
More...A new excise duty on vaping products came into force on 1 October 2026. Vaping Products Duty (VPD) applies to vaping liquids manufactured in, or imported into, the UK, whether or not they contain nicotine. The duty is charged at £2.20 per 10ml of
More...HMRC is writing to individuals it believes may have failed to declare consultancy income from private healthcare providers on their self-assessment tax returns. The letters follow information received from private healthcare providers and form part
More...The tax treatment of predevelopment costs has been the subject of a recent Supreme Court decision. This is likely to mean that capital allowances will be restricted for some predevelopment costs. The government has consulted on the impact of the
More...Anyone selling a UK residential property usually needs to report the disposal to HMRC within 60 days of completion. The requirement applies even where the individual is not normally required to report Capital Gains Tax (CGT) through a tax
More...Businesses using the Trader Support Service (TSS) to move goods between Great Britain and Northern Ireland need to prepare for a new platform launching soon. From 20 October 2026, all goods movements must be submitted using the new TSS
More...HMRC’s latest Corporation Tax statistics show that receipts from corporate taxes passed £100 billion for the first time in 2025-26. The main statistics are as follows: Total receipts from all corporate taxes were £100.4 billion in 2025-26, an
More...November 2026: 1 November 2026 - Due date for Corporation Tax payable by companies with an accounting period ended 31 January 2026, unless the company is required to pay Corporation Tax by instalments. 7 November 2026 - Deadline for the second
More...A part-time private hire driver challenged a flat weekly fee his company charged for access to its booking and dispatch system. Because the fee did not vary with hours worked, part-timers paid far more per hour than full-timers for the same service.
More...A new system for recording waste movements came into operation on 1 October 2026. The first phase of mandatory digital waste tracking applies to permitted or licensed sites receiving controlled waste in England and Wales. Affected organisations
More...A business may have the finance, premises and customers for an expansion project, yet still face another obstacle: obtaining enough electricity. The Government has announced Great British Grid, a new publicly owned organisation intended to help
More...HMRC has been consulting on proposals to modernise the tax rules governing distributions and repayments of capital from companies. The consultation was published on 23 June 2026 and closed on 14 September 2026. The proposals look at the treatment of
More...Employers operating employee share schemes may now be receiving penalties from HMRC for failing to submit their employment related securities (ERS) end of year returns on time. ERS schemes are used to provide employees with shares, options and other
More...HMRC has updated its guidance on how individuals and organisations can apply for a certificate of residence or letter of confirmation to prove UK tax residence. A certificate of residence can be used to claim tax relief in another country where UK
More...The government is considering changes to the voluntary National Insurance contributions (NICs) system following a call for evidence published earlier this year. Voluntary NICs allow individuals to fill gaps in their National Insurance record where
More...A limited company usually pays Corporation Tax on the profit, known as a chargeable gain, when it sells or otherwise disposes of a business asset. Business assets can include land and property, equipment & machinery and shares. The rules also
More...HMRC has published an updated list of deliberate tax defaulters. The list includes individuals, businesses and companies, detailing the amounts on which penalties are due and the exact penalties charged. The details of a tax defaulter will be held
More...Several employment law changes are approaching that businesses need to understand. The first arrives on 1 October 2026, when the normal period in which an employee can bring a claim to an Employment Tribunal increases from three months to six
More...When an employee develops a health problem, the consequences can extend far beyond a few days of absence. The Government published an update to its Keep Britain Working programme on 23 September, setting out plans for what it describes as Britain’s
More...Some taxpayers have already started to receive Simple Assessment letters from HMRC for the 2025-26 tax year, with a further tranche due to be sent between October and December 2026. Simple Assessment is used where HMRC cannot collect income tax
More...Mayors and local leaders in England are to be given powers to introduce an overnight visitor levy, creating a new charge for people staying in short-term visitor accommodation. The government announced the plans on 10 September 2026 following a
More...A new press release from HMRC is highlighting the fact that almost 7 million UK adults could be heading towards retirement without knowing how much State Pension they may be entitled to. New research has found that around one in eight adults (12.5%)
More...HMRC is contacting some trustees after identifying possible errors in recent Trust and Estate tax returns relating to the type of trust being reported. The latest HMRC compliance campaign focuses on trusts where box 8.15 of the Trust and Estate Tax
More...Businesses importing certain carbon-intensive goods into the UK will face a new carbon tax from 1 January 2027, when the Carbon Border Adjustment Mechanism (CBAM) comes into effect. CBAM will apply to specified goods imported from outside the UK in
More...HMRC has clarified how employers can handle benefits in kind for globally mobile employees as mandatory payrolling is introduced from April 2027. Under the new rules, most benefits in kind will have to be reported through payroll rather than on
More...Businesses waiting for cheaper borrowing may need to reconsider their plans. The Bank of England kept Bank Rate unchanged at 3.75% in September, but three members of the Monetary Policy Committee voted for an immediate increase to 4%. The concern
More...Cyber security is sometimes treated as a problem for large organisations with specialist IT departments. In reality, smaller businesses can be particularly vulnerable because they often have fewer resources available to detect an attack and recover
More...HMRC has launched an improved online service to make it easier for individuals to register for self-assessment. Anyone who needs to submit a tax return for the first time for the 2025-26 tax year should notify HMRC by 5 October 2026 to avoid a
More...HMRC is reviewing proposals to introduce new powers for recovering lower-value, persistent tax debts from individuals and businesses that repeatedly fail to engage with collection efforts. The proposals, set out in a public consultation earlier this
More...Businesses in the vaping sector are reminded that the new Vaping Products Duty and the Vaping Duty Stamps Scheme will take effect from 1 October 2026. HMRC is urging manufacturers, importers, wholesalers and retailers to make sure they are ready for
More...The tax treatment of some crypto assets is set to change under draft legislation for Finance Bill 2026-27. The proposed changes include new rules for qualifying stablecoins, crypto asset loans and liquidity pools. Eligible stablecoins are expected
More...Pensioners who do not want to receive the Winter Fuel Payment for winter 2026-27 have until September to opt out. The payment will be recovered through the tax system from those whose total income exceeds £35,000. In England and Wales, pensioners
More...When a couple divorces or separates, they need to agree how their finances will be divided. This can include property, pensions, savings, investments and maintenance payments. Where possible, reaching an agreement without going to court can be
More...Seeking to claw back training costs from wages is common practice. However, a recent ruling has set clearer boundaries as to how this can become an unenforceable restraint of trade. An appellant joined an IT services provider as a trainee quality
More...The Government has announced plans to simplify corporate reporting and reduce the administrative burden placed on UK businesses. It estimates that the proposed reforms could save businesses more than £450 million each year. The measures are expected
More...The British Business Bank has launched a £210 million investment fund to help smaller businesses in the South East of England start, develop and grow. The South East Investment Fund will offer loans ranging from £25,000 to £2 million, together with
More...1 October 2026 - Corporation Tax payment is due for companies with an accounting period ending 31 December 2025, unless the company is required to make quarterly instalment payments. 5 October 2026 - Deadline for notifying HMRC of a new liability to
More...The rate of Corporation Tax payable depends mainly on the level of a company’s taxable profits. The main rate is 25% and applies where profits exceed £250,000. Companies with profits of £50,000 or less generally pay Corporation Tax at the small
More...Making a trading loss whilst not ideal can sometimes generate a tax refund. If you are a self-employed individual or a member of a trading partnerships, a trading loss can potentially be set against other income or capital gains. This can reduce the
More...A company does not have to be formally closed to become dormant for Corporation Tax. A company is usually considered dormant if it has stopped trading and has no other income, such as investment income. A new limited company that has not yet started
More...Employers must make sure their staff receive at least the National Minimum Wage or National Living Wage rate that applies to them. The correct rate depends on the worker's age and, in some cases, whether they are an apprentice. Since 1 April 2026,
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