Blog
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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Will a discretionary trust prevent your home from qualifying for the residence nil rate band?
Apr 03, 2025
No one wants to pay more Inheritance Tax (IHT) than they have to. Knowing that there is the residence nil rate band to mitigate some of the liability faced by your descendants may be reassuring. However, sometimes there are situations where it ...
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Major changes ahead for directors of close companies – New dividend reporting rules from April 2025
Apr 01, 2025
From 6 April 2025, directors of close companies will face a notable change in how they report dividend income on their Self-Assessment tax returns. Under the updated rules introduced by HM Revenue & Customs (HMRC), more detail will be required and ...
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Important updates to Making Tax Digital and late payment rates you might have missed in the Spring Statement
Mar 27, 2025
This week’s Spring Statement brought two announcements that will matter to anyone running their own business or earning income from property. Firstly, there will be tougher penalties for late tax payments under Making Tax Digital (MTD). Secondly, the MTD scheme itself is ...
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Spring Statement 2025
Mar 26, 2025
Chancellor Rachel Reeves today delivered her Spring Statement, outlining the Labour Government’s economic priorities and reaffirming a commitment to fiscal discipline and long-term investment. Billed as the start of a “decade of national renewal,” the Statement acknowledged global uncertainty but marked ...
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