Archive for May 2025

For many UK businesses, 2025 has brought more financial challenges than clarity. With tax arrears reaching unprecedented levels and additional cost pressures on the horizon, it’s becoming increasingly difficult for firms to stay ahead of their obligations. According to recently released figures from HM Revenue & Customs (HMRC), arrears across key business taxes, including Corporation…

Scammers and fraudsters are looking for new ways to get money and data out of unsuspecting businesses. The latest wave of compliance changes made to Companies House and HM Revenue and Customs have resulted in businesses being confused about what is expected of them. Sensing an opportunity, the scammers have sought to take advantage of…

A big change is coming for anyone earning income through self-employment or rental property. From April 2026, if your earnings exceed £50,000, you will be required to comply with the Government’s new digital tax rules. Making Tax Digital for Income Tax (often called MTD for IT) means saying goodbye to annual paper returns. Instead, affected…

HM Revenue & Customs (HMRC) is now challenging taxpayers who claimed Investors’ Relief without fully meeting the qualifying conditions. The tax authority has begun contacting individuals who included the relief in their 2023/24 Self-Assessment returns. The benefits and the boundaries of Investors’ Relief Investors’ Relief was launched in 2016 as a way to encourage long-term…

With Mental Health Awareness Week upon us, I’ve been thinking about how we approach wellbeing at work, not as an abstract concept, but in practical, everyday terms. If you are running a team or business, it is easy to become consumed by the next task, the next meeting, the next deadline. Something I have been…

The Bank of England has dropped its base rate again, now sitting at 4.25 per cent. That is four cuts in a year, and there may be more on the way. However, do not assume this automatically means good news for your business. Yes, borrowing is cheaper, but that is not the whole story If…

In response to a spike in suspicious activity, HM Revenue & Customs (HMRC) has paused its phone and webchat services for Self-Assessment repayment requests. It is a protective measure, but one that has left many people wondering how they will get their money back. The good news is that you can still make a claim.…

If you have income or assets held abroad that have not been declared to HM Revenue & Customs (HMRC), you may face tax liabilities in the UK. The Worldwide Disclosure Facility (WDF) is designed to help individuals, companies, and trusts correct past errors and bring their tax affairs in line, particularly when foreign income or…