Archive for July 2025

HM Revenue and Customs (HMRC) has launched a trial which ends Corporation Tax reminder letters being sent to businesses. Initiated earlier this month, this pilot scheme forms part of HMRC’s broader effort to modernise and streamline its services. With the pilot expected to run until December 2025, and other Corporation Tax letters no longer being…

An important Government initiative for businesses in the UK is the Employment Allowance scheme. It’s important you check is if your business is eligible as there are certain restrictions in place. The Employment Allowance scheme gives qualifying employers and businesses the opportunity to reduce their annual National Insurance contributions. Chancellor Rachel Reeves announced during last…

More than 35 million UK taxpayers will need to prepare for a brand-new service designed to simplify how they manage financial information.

A recent report from the Public Accounts Committee (PAC) has revealed that HM Revenue and Customs (HMRC) is unable to determine how much tax is paid by billionaires residing in the UK. The findings have triggered serious concern and may prove problematic for Chancellor Rachel Reeves, who is currently reviewing all financial data and rates…

As Rachel Reeves prepares to unveil the upcoming Autumn Budget, discussions around her plans for tax rates are intensifying at a rapid pace. Discussions around her approach have included speculation around tax increases, continued freezes, or even the introduction of entirely new taxes. One topic sparking interest is the idea of a wealth tax. While…

With speculation mounting around the possibility of tax rises in Rachel Reeves’ forthcoming Autumn Budget, Chief Secretary to the Treasury, Darren Jones has suggested today that the ‘headline rate’ of Income Tax is unlikely to increase later this year. While the focus was on the Chancellor’s recently announced ‘£500 million Better Future Funds’ pledge, Jones,…

If you work in a sector that falls under the Money Laundering Regulations, you could be at risk of a fine from HM Revenue & Customs (HMRC), and the latest figures show that many businesses are falling foul of the rules. Between October 2024 and March 2025, HMRC fined 336 businesses more than £3.2 million…

Individuals earning outside of their main employment may need to register for Self-Assessment and submit a tax return. HM Revenue & Customs (HMRC) has reminded taxpayers to check their position if they have generated more than £1,000 in untaxed income during the last financial year. This applies to a wide range of income streams, such…

From April 2026, the way you handle sick pay is going to change. Under the Government’s latest plans, Statutory Sick Pay (SSP) will need to be paid from the very first day an employee is off work, and not just for full-time staff. Everyone will be entitled to it, no matter how little they earn.…

If you are running a small limited company, there are some big changes coming to how you prepare and file your accounts. These new rules are part of a law called the Economic Crime and Corporate Transparency Act, and they will affect thousands of small businesses across the UK. Paper and web-based filing is on…