Posted 06/08/2025 Earlier this year Companies House made it so company directors could voluntarily verify their identity and has now confirmed when it will become compulsory. From 18 November 2025 company directors and people with significant control (PSC) will have to verify their identities to incorporate a company and to become the director of an…Read More
Posted 16/07/2025 Companies House is undergoing a major transformation following the introduction of the Economic Crime and Corporate Transparency Act 2023 (ECCTA). Backed by new legislative powers, the agency is shifting from a passive registrar to an active gatekeeper – taking direct action against fraud, money laundering, and misuse of the UK’s corporate framework. A…Read More
Posted 01/07/2025 If you earn extra income from a side hustle, you could be legally required to register for Self Assessment and complete a tax return – and it’s better to get ahead of it now, rather than wait until the January deadline. The threshold is simple: if you earn more than £1,000 in a…Read More
Posted 27/05/2025 The UK government has agreed a new trade deal with the European Union, aimed at making it easier to do business across the Channel. This follows recent agreements with the US and India and is being presented as part of a wider effort to support jobs and help businesses grow. The EU is…Read More
13 May 2025 James Murray, the Exchequer Secretary to the Treasury, recently made a Written Ministerial Statement that included a number of tax simplification, administration and reform measures. In total, 39 measures were announced. Many measures are intended to reduce burdens on employers and small businesses, whereas others are designed to modernise H M Revenue…Read More
Posted 01/04/2025 The Spring Statement announced that Making Tax Digital for Income Tax (MTD for IT) regime will be further extended to smaller businesses. Read on to see how and when your business might be affected. What is MTD for IT? Making Tax Digital for Income Tax (MTD for IT) is a government initiative that…Read More
Posted 31/03/2025 The Chancellor of the Exchequer, Rachel Reeves, delivered her Spring Statement last week in which she outlined the government’s economic plans, including spending decisions, tax policies and efforts to boost growth while managing public finances. What did the statement tell us about public finances and the economy? The Statement came on the back…Read More
Posted: 24 March 2025 The new National Living Wage and National Minimum Wage rates will come into force from 1 April 2025. There are also changes to the National Insurance employers pay that take effect from 6 April. For many businesses, the April payroll will represent a sizeable step up in labour costs. As a…Read More
Posted 31/10/2024 Inheritance tax –The IHT threshold of £325k to remain until 2030. –From April 2027, inherited pensions are subject to IHT. –From April 2026, agricultural property relief and business property relief will be reformed, with the highest rate of relief remaining at 100% for the first £1m of combined business and agricultural assets on top…Read More
Posted 30/10/2024 We have compiled a summary of the budget announcements made today. A more detailed analysis will follow. National Living/Minimum Wage The National Living Wage for people aged 21 or older will rise by 6.7% to £12.21 from next April. In addition, the National Minimum Wage will rise for people aged between 18 and…Read More
Posted 09/10/2024 Companies House have rolled out a new penalties regime as part of a broader effort to boost corporate transparency and combat economic crime, following the implementation of the Economic Crime and Corporate Transparency Act 2023. This could mean tougher consequences in the shape of financial penalties for companies that don’t meet their obligations,…Read More
Posted 08/10/2024 As of 1st October, new laws are in place to ensure that workers keep 100% of the tips, gratuities, and service charges they earn. This is a major development for employees in sectors such as hospitality, where tipping plays a significant role in take-home pay, and for employers, who will need to ensure…Read More
Posted 28/08/2024 Anyone who needs to complete a Self-Assessment tax return for the first time to cover the 2023 to 2024 tax year, should tell HM Revenue and Customs (HMRC) by 5 October 2024. It is the individual’s responsibility to determine if they need to complete a tax return for the 2023 to 2024 tax…Read More
Posted 08/08/2024 For the 2023 to 2024 tax year, the Self Assessment threshold for individuals taxed through PAYE only, will change from £100,000 to £150,000. Individuals should have received a letter confirming they do not need to complete a tax return if they submitted a 2022 to 2023 tax return showing income between £100,000 and £150,000 that…Read More
Posted 07/08/2024 The previous government included plans to end non-domiciled tax status at the Spring Budget and replace it with a 4-year foreign income and gains (FIG) regime. The new government have now announced their intention to continue with these plans, while ending some advantages for existing non-domiciled individuals. What the change in tax status…Read More
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