Practical answers for UK business owners and accounting professionals.
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Many owners know the VAT registration threshold, but fewer are clear about the lower threshold that can allow them to leave the VAT system. The two figures do different jobs, and falling between them does not…
For the 2026/27 tax year, from 6 April 2026 to 5 April 2027, most category A employees pay Class 1 National Insurance at 8% on earnings above the primary threshold and up to the upper earnings limit, and 2% above that…
Corporation Tax has two deadlines that are easy to confuse. The payment deadline and the Company Tax Return deadline are different dates. For most small companies, Corporation Tax is due 9 months and 1 day after the end…
Since 1 January 2023, the VAT default surcharge has been replaced by a new two-part penalty regime: one for submitting VAT returns late, and one for paying the VAT bill late. Here is how both work, based on HMRC's…
The Chancellor will deliver the Autumn Budget on Wednesday 28 October 2026. HM Treasury has confirmed the date and that it will be the first Budget of the Chancellor of the Exchequer, Rt Hon John Healey MP. With the…
If you are paying for childcare in the UK, Tax-Free Childcare is the government's main scheme for working parents — and it is often missed by directors and the self-employed who assume it is only for employees. For…
HMRC's basis period reform is now in force. From the 2024/25 tax year onwards, sole traders and partnerships are taxed on the profits of the tax year itself (6 April to 5 April), not the profits of the accounting year…
If you run a limited company and offer staff benefits or reimburse expenses, there's a good chance a PAYE Settlement Agreement (PSA) is doing some quiet heavy lifting in your payroll process. And if the 19 October…
I checked GOV.UK's current position on Making Tax Digital for Corporation Tax today, 20 October 2026. The GOV.UK page on the topic is a concluded consultation — published 12 November 2020 and last updated 30 November…
HMRC has updated its advisory fuel rates, effective from 1 September 2026 (rates are reviewed quarterly on 1 March, 1 June, 1 September and 1 December). If your employees use company cars, these are the rates to use…
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