Two sides of the tax story – National Insurance up, Capital Gains Tax down
Jun 24, 2025
The latest tax data for the first months of the 2025/26 tax year shows mixed trends. Employers’ National Insurance contributions (NICs) are sharply up, rising by nearly £2 billion in a single month, while Capital Gains Tax (CGT) receipts have fallen ...
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Trading or not? Why income nature matters for BADR
Jun 19, 2025
Business Asset Disposal Relief (BADR), formerly known as Entrepreneurs’ Relief, offers business owners a reduced Capital Gains Tax (CGT) rate on disposals of shares or assets in a trading business. Trading is the key word here. A recent tax tribunal involving ...
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With Tax Freedom Day now in mid-June, are business owners paying more than their fair share?
Jun 17, 2025
For many business owners, the phrase Tax Freedom Day may sound abstract, but it is a concept that is becoming increasingly relevant. This year, Tax Freedom Day in the UK fell on 11 June, meaning that for the first 162 days ...
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Over 100,000 jobs lost – The cost of rising National Insurance on employers
Jun 12, 2025
The release of the latest employment data should serve as a wake-up call for business owners. Over 100,000 jobs were lost in May, the worst figure in four years, with hospitality, tech and retail bearing the brunt. One of the biggest factors ...
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Directors and the minimum wage – The compliance risks you may be overlooking
Jun 10, 2025
Since 1 April 2025, new National Minimum Wage (NMW) and National Living Wage (NLW) rates have applied across the UK, bringing substantial increases that affect employers of all sizes. While the changes are designed to benefit millions of workers, directors, particularly ...
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Is your business ready to go viral? The financial risks (and rewards) of sudden success
Jun 05, 2025
The annual search for the UK’s most amusingly named small business is back, with entries flooding in for Simply Business’s £2,500 prize. Past contenders such as Lord of the Bins, Sweeping Beauty, and Surelock Homes have shown how a witty name ...
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Class 2 NICs – The hidden issue affecting self-employed taxpayers
Jun 03, 2025
Recent changes to Class 2 National Insurance contributions (NICs) were meant to simplify things for self-employed taxpayers. Instead, some are facing confusion, incorrect charges, and silence from HM Revenue & Customs (HMRC). The rule change that caused the problem From the 2024/25 tax ...
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Are rising tax arrears putting your business at risk?
May 29, 2025
Businesses in the UK are facing increasing financial strain, with new data from HM Revenue & Customs (HMRC) showing that tax arrears have hit £28 billion per month on average across the first quarter of 2025. Unpaid Corporation Tax, VAT and ...
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HMRC or a scam – can you trust the letters you receive?
May 27, 2025
There are always going to be bad actors looking to scam reputable businesses out of money and data. The new changes to Companies House and the heightened scrutiny that HM Revenue and Customs (HMRC) are placing on businesses have created a ...
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The countdown to Making Tax Digital for Income Tax – Who is affected first?
May 22, 2025
With less than a year to go before Making Tax Digital for Income Tax (MTD for IT) becomes mandatory for sole traders and landlords earning over £50,000, it is important to start preparing. From April 2026, these taxpayers will need to ...
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