What happens when you underpay tax?

What happens when you underpay tax?

Apr 14, 2026

The new tax year has recently begun and it is a time when businesses and individuals will need to review their position to ensure that they are not caught out by shifting rules and fiscal drag. It is also the time ...

Blog, HMRC, Tax

Making Tax Digital has started – Are you ready for the first submission?

Apr 07, 2026

Making Tax Digital (MTD) for Income Tax has now begun, years after it was first announced and when it was due to take effect. Even as recently as the week before the shift, only 21 per cent of affected taxpayers were ...

Blog, HMRC, Tax

HMRC confirms how sole traders and landlords can exit Making Tax Digital for Income Tax

Apr 02, 2026

Just days ahead of the initial phase of Making Tax Digital for Income Tax, HMRC has confirmed the exit options for sole traders and landlords who fall below the annual qualifying income threshold. There has been a lot of concern from ...

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Blog, Business, SMEs, Tax

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 ...

Tax,Online,Payment,Concept,Vector,Illustration.,Financial,Analysis,Report,And

Blog, Business, Tax

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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Blog, HMRC, Tax

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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Blog, SMEs, Tax

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 ...

3d,Villa,With,A,Pool.,A,Classic,Luxury,Home,For

Blog, Property, Tax

What does the abolition of the FHL tax regime mean for your BADR eligibility?

Dec 13, 2024

With the planned abolition of the Furnished Holiday Let (FHL) tax regime in April 2025, owners of FHL properties are facing changes to how their properties are taxed. So, what are these changes and what will the implications be for claiming ...

Blog, Budget, General news, Tax, VAT

Autumn Budget 2024

Oct 30, 2024

A new Government, a new Chancellor and a new approach to the UK’s fiscal policies. Rachel Reeves entered her first Budget with a strong message that her measures would lead to “an economy that is growing, creating wealth and opportunity for ...

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SMEs, Tax

Potential tax increases and their impact on businesses

Jul 10, 2024

In recent reports, former Prime Minister Sir Tony Blair has forecasted potential tax increases that could have an impact on businesses across the UK. The Tony Blair Institute's chief economist predicts taxes may need to rise by 1.9 percentage points of ...

Tax