If you sell or otherwise dispose of UK property, you may have to report the disposal to HMRC and pay Capital Gains Tax (CGT) within 60 days of completion. The rules differ depending on whether you are UK resident or non-UK resident. Missing the deadline can result in penalties and interest, so it is important to establish whether a return is required as soon as a property sale completes. Key facts UK residents generally have to report a disposal of UK residential property wit

If you are employing staff or engaging subcontractors for construction work, you will normally need to register with HM Revenue & Customs (HMRC). Employing staff You must registe#86C6E5r as an employer before your first payday so that HMRC can issue your employer PAYE reference number. This applies even if you are the sole director of a limited company and the company employs only you. You can register up to two months before you intend to start paying yourself or your employ

The government is consulting on proposals that would require many Income Tax Self Assessment (ITSA) taxpayers to pay tax closer to real time from April 2029. Under the plans, taxpayers with PAYE income would pay estimated ITSA liabilities through monthly PAYE deductions, while other self-employed individuals and landlords could move to monthly or quarterly payments on account. The reforms aim to reduce late payments and tax debt by spreading tax liabilities throughout the y

This checklist is tailored to businesses operating in the United Kingdom, including sole traders, partnerships, and limited companies. Before You Start Trading Business Registration Register as a sole trader with HM Revenue & Customs (if applicable). Register your limited company with Companies House (if applicable). Obtain your Unique Taxpayer Reference (UTR). Set up a business bank account. Register for PAYE if you will employ staff. Assess whether you need VAT registration

If you're a director of a limited company, one of the most important financial decisions you'll make is how to pay yourself. Get it right and you can minimise your tax liability, maximise your take-home income and make the most of available allowances. Get it wrong and you could end up paying more tax than necessary or missing valuable planning opportunities. The challenge is that there is no single answer that works for every director. The most tax-efficient strategy depends

One of the most common questions we are asked by business owners is: "Should I continue as a sole trader or set up a limited company?" There is no single answer that suits everyone. The right time to incorporate depends on your profitability, future plans, tax position and attitude to administration. However, if your business is growing, it is worth reviewing your structure regularly to ensure you are operating in the most tax-efficient and commercially appropriate way. Under

With the 2025 Budget landing on Wednesday 26 November, speculation is ramping up over possible tax rises. With borrowing costs at a...

The Government is calling for evidence on income tax self-assessment (ITSA) registration to find out whether bringing forward the point...

The Government has decided not to take on recommendations made by the Office of Tax Simplification (OTS) for inheritance tax. The OTS Has...

As we head into another festive season, many employers are now, more than ever, looking to bring a little bit of cheer to their employees...

If you're looking at mileage allowances for business use of employees own vehicles, and reviewing or planning your finances, please feel...

Many businesses use recruitment agencies to source temporary workers. These agencies may choose to outsource the administrative burdens...

The Government announced a raft of tax and spending proposals in Budget 2021, but announcements for the fleet and leasing industry within...

A Budget policy paper confirms that the switch from currently a basis to the tax year basis will happen for all self-employed individuals...

Rishi Sunak delivered his third budget as chancellor to the Commons on Wednesday 27 October 2021 where he announced a series of measures...

Rishi Sunak will deliver his budget and spending review to the Commons this Wednesday and the Chancellor has already announced a series...

The Chancellor, Rishi Sunak, will reveal his Budget and Autumn spending review to the Commons on 27 October 2021, The government spending...

Salary sacrifice arrangements could help lessen employees’ additional tax bills from the rise in National Insurance contributions (NICs)...

The second Budget in 2021 will be announced alongside a spending review on 27 October 2021. With the UK still recovering, what could be...

The Government has delayed the introduction of Making Tax Digital for Income Tax self-assessment (MTD for ITSA) to 6 April 2024 to give...