Thompson Elphhick News
Do you have a personal tax account yet?
Your Personal Tax Account (PTA) is an easy and secure way to manage your tax online. You can use it to check your tax code, claim a refund and update your details, all in one place, without needing to
New support measures to allow affordable debt repayment
The government has announced new support measures to allow affordable debt repayment for government debt. The new measures set out a clearer and more practical approach to helping individuals and
Preparing for a new employment landscape in 2026: “Day One” Entitlements
Paternity Leave As of Monday, 6 April 2026, the Employment Rights Act (ERA) 2025 will fundamentally transform the UK workplace by introducing several "Day One" entitlements. Now, paid
Data Protection rules are still alive
Businesses that collect or use personal information must comply with UK data protection law. Personal data includes any information that can identify a living individual, such as names, addresses,
Crackdown on energy profiteering
The government has announced a package of measures designed to tackle unfair price increases and strengthen the United Kingdom’s long term energy security. The Chancellor has set out proposals to give
Your responsibilities if registered for VAT
It is important to understand both when VAT registration is required and the ongoing obligations that follow. The VAT registration threshold is currently £90,000 of taxable turnover, although
Tax-free and taxable State Benefits
While there are many state benefits available, it is not always clear which of these are taxable and which are tax-free.HMRC’s guidance outlines the following list of the most common state benefits
Business.gov.uk advice selling to international markets
There are a variety of services available to assist UK exporters that can be found at https://www.business.gov.uk/export-from-uk/ There you can find a range of government-backed tools and support to
The marginal Corporation Tax rates
The rate of Corporation Tax payable depends on the level of a company’s taxable profits. The main rate is 25% and applies where profits exceed £250,000. At the other end of the scale, companies with
Business Asset Disposal Relief – tax increase from April 2026
The tax rate for Business Asset Disposal Relief (BADR) will increase to 18% (from 14%) on 6 April 2026. BADR offers a reduced Capital Gains Tax (CGT) rate on qualifying disposals such as the sale of a
Action to reduce cost of living pressures
The Chancellor has set out a package of measures aimed at reducing cost of living pressures for households and at the same time strengthening the UK’s longer-term economic resilience. The announcement
Income from spare capacity
Many businesses have spare capacity that could generate additional income with relatively little additional cost. Spare capacity may arise where premises, staff time, equipment or intellectual











