News & Articles
Should you be paying tax on your side hustle?
Conventional approaches to work and earning an income are changing and with the cost of living ever rising, many now use various ways to make some extra cash outside of their main job. If that’s true of you then you may wonder whether you need to pay tax on those earnings...
There's still time for some Year End Tax Planning!
With the tax/financial year end approaching, now is a good time to check that you’re making the most of the available reliefs and allowances available to you. Please talk to us if you think any of the issues affect you...
Salary vs dividends: The best way to extract profits in 2025/26
If you trade as a limited company, then you will likely know that balancing salary and dividends is key to extracting profit from your company in the most tax-efficient way. Both methods have distinct implications. and the right mix will depend on your specific circumstances...
New tax rules for double cab pick-ups
Under tax reforms effective April 2025, double cab pick-up vehicles (DCPUs) with a payload capacity of one tonne or more will be treated as cars for tax purposes. This reclassification impacts corporation tax (from 1 April) and income tax (from 6 April)...
Autumn 2024 Budget speech: History in the making?
Yesterday, Rachel Reeves delivered her first Budget speech. As the first Budget speech ever delivered by a female Chancellor of the Exchequer, the occasion was bound to be one for the history books regardless of what was said...
Check your National Insurance record: Can you claim your full State Pension?
HM Revenue and Customs (HMRC) has recently reminded people to check and make sure they are not missing out on valuable State Pension entitlements due to gaps in their National Insurance (NI) record. The issue mainly affects parents, particularly women, who claimed Child Benefit before 2000...
Should you pass on wealth now to avoid inheritance tax?
Many individuals are apparently passing on substantial amounts of their wealth in anticipation of possible changes to inheritance tax (IHT) in Labour’s first Budget on 30 October...
Highlights from the King's speech: What impact may they have on your business?
Last week King Charles delivered the King’s Speech. This is a speech traditionally delivered at the State Opening of Parliament and it sets out the government’s plans and priorities for the coming year...
Reminder: P11D form submission deadline rapidly approaching
The deadline – 6 July – for reporting expenses and benefits to HM Revenue & Customs (HMRC) is rapidly approaching. It's important for all employers to understand their responsibilities regarding this crucial tax form...
Are you an early bird?
HM Revenue & Customs (HMRC) have released figures showing that 295,250 Self Assessment tax returns were filed in the first week of the new tax year. Almost 70,000 were filed on the first day – April 6th. This seems to suggest an increasing trend for filing tax returns early...
