Company car VAT – Avoiding mistakes when applying the fuel scale charge
May 08, 2025
From 1 May 2025, HM Revenue & Customs (HMRC) reduced its road fuel scale charges, reflecting a drop in fuel prices. Businesses using company cars will see a cut of nearly six per cent across most bands, with new rates applying ...
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How to claim a Self-Assessment tax refund during the HMRC phone line pause
May 06, 2025
HM Revenue & Customs (HMRC) has recently temporarily suspended telephone and webchat services for Self-Assessment repayment requests. This change is a response to a rise in suspected fraudulent activity targeting its systems. While it may cause inconvenience, there are still reliable ways ...
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What is the Worldwide Disclosure Facility and when should you use it?
May 01, 2025
If you have undeclared income or assets held overseas, you may owe tax in the UK. The Worldwide Disclosure Facility (WDF) offers a way to correct your tax affairs where foreign income or gains should have been reported but were not. HMRC ...
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Right to work checks – Financial risks and compliance steps for business owners
Apr 29, 2025
Right to work checks form an important part of business risk management, particularly now that the Government has increased the financial penalties for non-compliance. From 2024, employers who fail to carry out correct checks face fines of up to £45,000 per ...
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HMRC is closing its free Company Tax Return filing service – what your business needs to do now
Apr 24, 2025
From 31 March 2026, HM Revenue & Customs (HMRC) will permanently close its free online service for filing Company Tax Returns and annual accounts. If you currently rely on this system, you will need to switch to commercial software to stay ...
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An overview of filing and payment penalties for businesses
Apr 22, 2025
Across the major taxes, HM Revenue & Customs (HMRC) issues penalties when tax is not filed or paid on time. The specific rules vary by tax type, but late submission or payment will cost you. Let’s look at what has changed, particularly ...
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Can nearshoring solve the economic confusion?
Apr 17, 2025
It is no secret that the ongoing trade wars, tariffs, and tense negotiations have left the world in a perilous place from an economic standpoint. The situation has been evolving so rapidly that any information provided about the specifics of tariffs ...
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Time is running out to respond to the open consultation on reforms to APR and BPR
Apr 15, 2025
The Autumn Budget announced significant changes to reduce Agricultural Property Relief (APR) and Business Property Relief (BPR) under Inheritance Tax (IHT). Effective from April 2026, the new rules abolish the unlimited 100 per cent tax relief on agricultural and business assets. Instead, ...
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Rising BADR rates bring MBO timing into sharper view
Apr 10, 2025
The idea of selling a business to its management team has long been part of succession planning in the UK. However, changes to the tax treatment of gains under Business Asset Disposal Relief (BADR) this month have added a new layer ...
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Why Trump’s tariffs could have more of an impact on your finances than you realise
Apr 08, 2025
As global stock markets reel in response to US President Donald Trump’s sweeping new tariffs, many UK businesses may assume this is a crisis confined to Wall Street or the multinational giants. However, Monday’s sharp market downturn has shown that these ...
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