Thompson Elphhick News
Check if you can cash in a Child Trust Fund
HMRC has issued a press release urging 18-23 year olds who have yet to claim their Child Trust Fund (CTF) cash to do so as soon as possible. According to HMRC, over 758,000 young adults in this age
Tax Diary November/December 2025
1 November 2025 - Due date for Corporation Tax due for the year ended 31 January 2025. 19 November 2025 - PAYE and NIC deductions due for month ended 5 November 2024. (If you pay your tax
Risks of engaging employees as sham contractors
Recently, a clear legal precedent confirmed that the nature of an individual's work is determined by the reality of the actual employment relationship rather than by arbitrary titles. Mr. Gooch worked
Profitability through better management information
Many business owners make decisions based on instinct, but intuition alone can be unreliable. Having timely, accurate management information replaces guesswork with insight and leads to stronger
Building financial resilience in uncertain times
Every business faces unexpected challenges. Rising costs, supply delays, late payments and sudden changes in demand can all place pressure on cash flow. The businesses that cope best are usually those
State benefits taxable and non-taxable
Many people rely on state benefits, but it is not always obvious which payments are taxable and which are tax-free. HMRC’s guidance outlines the following list of the most common state benefits on
Check your State Pension forecast
Your State Pension forecast shows how much you could receive, when you can claim it, and how to boost it by filling National Insurance gaps. The Check Your State Pension forecast service provides a
Register an offshore property developer for Corporation Tax
Non-UK resident companies that buy, develop, or sell UK land must register for Corporation Tax within three months of a disposal. Those non-UK resident companies that deal in or develop UK land must
The Enterprise Investment Scheme tax benefits
The Enterprise Investment Scheme (EIS) is designed to help smaller, higher-risk trading companies raise finance by offering a range of tax reliefs to investors who purchase new shares in those
The present limits for Business Assets Disposal Relief
Business Asset Disposal Relief (BADR) still offers a valuable tax break, but the CGT rate has risen to 14% from April 2025 and will increase again to 18% in April 2026. BADR provides a valuable tax
Heads up for company directors
As of April 2025, directors of close companies and self-employed taxpayers face new mandatory reporting requirements on their Self-Assessment returns. Up to 900,000 company directors and 1.2 million
Five goals every small business owner should set
Running a small business can feel like juggling endless priorities, but taking time to set clear goals is essential if you want your business to grow and remain sustainable. Here are five goals that











