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The VAT Flat Rate Scheme is designed to simplify the way a business accounts for VAT and, in doing so, reduce the administrative burden associated with VAT compliance. The scheme is available to

The settlements legislation is designed to ensure that where a settlor retains an interest in settled property, the income arising is treated as the settlor’s income for all tax purposes. A settlor

If you are self-employed, it is important to understand which car and travel costs are allowable for tax purposes. You may claim allowable business expenses for car, van, and travel costs, which will

When a sole trader or partnership transfers a business to a company, a chargeable gain may arise. This is calculated by reference to the market value of the business assets at the date of

Those responsible for the accounts and tax compliance of private limited companies must ensure they are fully aware of the relevant obligations and statutory deadlines. Following the end of each

Energy costs remain a significant pressure on household budgets, and reducing consumption continues to be one of the most reliable ways to control expenditure. Fortunately, many practical steps can

From April 2026, the National Minimum Wage and National Living Wage rates have increased, and businesses should ensure payroll systems are updated immediately so that employees receive the correct

1 May 2026 - Due date for corporation tax due for the year ended 30 July 2025. 19 May 2026 - PAYE and NIC deductions due for month ended 5 May 2026. (If you pay your tax electronically the due date

The rules on claiming tax relief for working from home are changing for the new 2026-27 tax year. In most cases, employees will no longer be able to claim relief for homeworking, although claims can

Making Tax Digital (MTD) for Income Tax began on 6 April 2026 for qualifying taxpayers. Those with qualifying income over £50,000 are now required to maintain digital records and submit updates of

The new Vaping Products Duty (VPD) and Vaping Duty Stamps (VDS) are being introduced from 1 October 2026. In advance of the launch of the new schemes, HMRC opened applications for approval for

Private Residence Relief (PRR) is a valuable Capital Gains Tax relief that can eliminate the tax due when you sell your home. In simple terms, it applies to periods when a property has been your only