Capital allowances allow businesses to claim tax relief on money invested in assets like machinery, equipment, or certain vehicles used commercially. There are a variety of capital allowances available, including: Full Expensing Annual
With the 2024/25 tax year now in the rearview mirror, it’s the perfect moment for business owners to reflect. What worked well? What didn’t? What do you need to change or improve in
VAT is complex, and too many businesses are making costly, avoidable mistakes. Even a simple oversight or misunderstanding can lead to penalties, cash flow problems, and disputes with HM Revenue & Customs (HMRC).
The Government has confirmed that Making Tax Digital (MTD) for Income Tax will apply to sole traders and landlords earning over £20,000 a year. This latest extension means that an additional 900,000 sole
The Chancellor’s Spring Statement introduced harsher penalties for late taxpayers under Making Tax Digital for Income Tax Self Assessment (MTD for ITSA). With the Government confirming an extension to sole traders and landlords
Submitting your Self-Assessment tax return at the start of this tax year is a great way to manage your tax bill effectively. The earlier you file a return, the sooner you will find
The new financial year will see many of the proposed changes announced in the Autumn Budget enacted, impacting businesses across the country. These changes will have business owners planning their tax strategy for
From 6 April 2025, many directors will need to report dividend income in much more detail in their Self-Assessment tax return. This change will affect an estimated 900,000 directors across the UK. HM
If you are thinking about selling your business, timing could be everything. Business Asset Disposal Relief (BADR), formerly known as Entrepreneurs’ Relief, helps business owners reduce their Capital Gains Tax (CGT) liability when
