Thompson Elphhick News
Taxable benefits for use of company car
The tax you pay on the use of a company car depends largely on its CO2 emissions, so choosing a lower emission or electric vehicle can make a significant difference to your overall tax cost. The
Business Asset Disposal Relief – the present rates
If you are thinking about selling a business or shares, it is important to understand how Business Asset Disposal Relief works, particularly with rates set to increase from April 2026. Business Asset
Why ID verification is supposedly good for business
Last week, we covered the new requirement for directors and persons with significant control (PSCs) to verify their identities from 18 November 2025. This process will be rolled out over 12 months,
Valuing and pricing goods and services
For any business, knowing how to value and price what it sells is fundamental to success. Yet many small firms still rely on guesswork or simply copy competitors’ prices without understanding whether
Facing change with confidence
Change is part of every business journey. Whether it is prompted by new technology, regulation or shifts in the market, the ability to adapt determines how well a business performs in the long term.
Claiming for working at home
Employees who are working at home may be entitled to claim tax relief on certain work-related expenses. Where such costs are not reimbursed by the employer, either by direct payment or an allowance,
Claiming lettings relief
If you have tenants in your home, it’s essential to understand the Capital Gains Tax (CGT) implications. Typically, there is no CGT on the sale of a property used as your main residence due to Private
Reporting foreign income to HMRC
If you are UK resident and receive income from abroad, such as overseas wages, rent, or investments, you may need to pay UK Income Tax and report it through Self-Assessment. Income Tax is generally
Reliefs and allowances for Corporation Tax purposes
Companies can reduce their Corporation Tax bill through a range of reliefs, including R&D credits, Patent Box, and creative industry tax reliefs, all of which will help to lower the overall tax on
Report and pay Capital Gains Tax
If you sell assets such as shares or land, you may need to report your Capital Gains Tax either through Self-Assessment or HMRC’s ‘real time’ CGT service; deadlines and rates depend on the type of
Have you verified your ID at Companies House?
From 18 November 2025, all company directors and people with significant control (PSCs) will be legally required to verify their identity at Companies House. This verification is being phased in over
Don’t be tempted to withhold pay as a form of leverage
Ms Constantine had been a veterinary surgeon since 2017. Initially, she had worked every day with two half days rest, but this increased to four full days and a weekend every three weeks. Moreover,











