Thompson Elphhick News
Tripartite arrangements don’t necessarily enable an agency to escape accountability
The question was raised as to whether, in a tripartite agency relationship, an employment relationship exists between an employee and their intermediary agency. For instance, Ryanair DAC employs some
Definition of a building sub-contractor
Know the rules for contractors & subs under CIS to avoid issues with HMRC. Under the Construction Industry Scheme (CIS), HMRC applies specific tax rules to contractors and subcontractors in the
VAT – digital record keeping
HMRC requires businesses to maintain accurate VAT records to ensure correct tax payments. While all businesses must retain general records (such as invoices, bank statements, and receipts), a key
Trusts and Income Tax
Trustees must manage assets, follow tax rules, and register with HMRC where required. A trust is a legal arrangement in which a trustee, either an individual or a company, is entrusted with managing
Rules to protect effects of debanking
Banks must now give 90 days’ notice before closing accounts, giving customers more time to respond. Since April 2026, new government rules strengthen protections for individuals and small businesses
What is Support for Mortgage Interest?
SMI loans can help pay mortgage interest for those on benefits, but repayment is due when the home is sold. Support for Mortgage Interest (SMI) is a government-backed loan provided by the Department
Help with outstanding tax bills
HMRC’s Time to Pay lets eligible taxpayers spread tax bills over time, avoiding immediate enforcement. If you owe tax to HMRC, you may be able to set up an online ‘Time to Pay’ payment plan
A magical clause does not necessarily nullify employment status
A recent ruling has provided a timely reminder that substance trumps form in employment status disputes, and the mere insertion of a clause does not automatically change the employment status of
Building value in your business
For many small business owners, the focus is on day-to-day operations. However, building long-term value is just as important, whether your aim is to sell in the future, attract investors, or secure
Pre-Budget tax planning – act now
With the next UK Budget approaching, there is speculation about changes to tax rates, allowances, and reliefs. Acting now can help secure current benefits before any new rules take effect. Key areas
Bank Rate trimmed to 4%
The Bank of England has knocked the main interest rate down to 4% today, cutting it by a quarter‑point from 4.25%. It’s the fifth cut in a year and brings the rate to its lowest since March 2023. The
Interactive online tool for tax compliance check
HMRC’s new Q&A tool guides you through each step of a compliance check. The free interactive online tool is designed to help individuals and businesses better understand what happens during a tax