Latest News
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A £3,000 side-hustle allowance: more generous than it looks?
People making money from small side businesses will have more room to earn without paying income tax, following a Budget decision to triple the trading allowance. However, the figure relates to what you receive before expenses, not the profit you keep. Will the £3,000 allowance actually save you tax?
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HMRC increases penalty interest rates
An increase in the Bank of England base rate also increases the penalty interest charged by HMRC on underpaid taxes. What are the new rates?
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Founders' relief: a closer look
The Budget's new Founders' Relief sounds remarkably generous, offering a 10% capital gains tax rate on up to £10 million of gains from selling shares from April 2027. However, a closer look at the proposed qualifying conditions suggests that relatively few business owners will benefit. Why might the relief be so difficult to claim?
Newsletters
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Will new property tax erode tax efficiency?
You recently purchased a new trading premises for your business and plan to charge your company rent. As tax rates on property income are going up in April 2027, is this arrangement likely to be tax efficient?
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Slash your NI bill by hiring an apprentice
Unless you’ve been living under a rock you will know that there are not enough young people in employment, education or training. The government offers several financial incentives to employers to hire young adults as apprentices. What’s involved and what could you save?
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HMRC attacks legitimate staff travel costs
The Upper Tribunal recently ruled on a dispute between HMRC and British Airways (BA) regarding the free accommodation it provided for its employees. HMRC said it was taxable, BA disagreed. What was the outcome?
Monthly Focus
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MONTHLY FOCUS: 2026 BUDGET SPECIAL
Budget 2026 contains a mixture of tax rises, new reliefs and changes to the way businesses and individuals will be taxed from 2027 onwards. Savings and property income will face higher rates, the lifetime limit for Business Asset Disposal Relief will fall, a new founders' relief is planned and several allowances and business incentives are changing. Which measures matter most, and is there anything you should do before they take effect?
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MONTHLY FOCUS: BUSINESS AND AGRICULTURAL PROPERTY RELIEF: WHAT DO THE NEW IHT RULES MEAN FOR YOU?
The inheritance tax treatment of businesses and farms changed fundamentally from 6 April 2026. The amount that can qualify for 100% business property relief and agricultural property relief is now capped, potentially leaving families with a significant tax bill for the first time. What has changed, and what should business owners and farmers be doing about it?
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MONTHLY FOCUS: STARTING TO THINK ABOUT VAT
The VAT registration threshold has barely changed over the last decade. As a result, more businesses are having to register. In this Focus, we look at the key considerations for a business that needs to register, or one that may be considering doing so on a voluntary basis.
Practical Guides
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Reprieve for rollout of mandatory payrolling?
HMRC has announced another change to the forthcoming introduction of mandatory payrolling. What is the advice ahead of the first key deadline of 6 April 2027?
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Practical guide: Claiming input tax on commercial property purchase
A business is partially exempt and has bought a commercial property for £1m plus VAT. This will be partly rented out, and partly used for the trade. How can they maximise their input tax claim and also submit accurate returns to HMRC?
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Practical guide: Inheritance tax on pensions
For deaths on or after 6 April 2027, most unused pension funds and pension death benefits will be brought within the scope of inheritance tax (IHT). What does a new technical note tell us about how this will work in practice?
Tools & Calculators
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High income child benefit charge calculator
Worried that you or your partner might have to pay the HICBC? Enter some basic details into our calculator to see if there’s any liability.
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Pension relief calculator
Sometimes the tax relief you get on a pension is easy to work out, and sometimes it isn’t. Let our calculator do it for you and show the effect on your pension fund.
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Dividend effect calculator
Considering paying yourself a dividend? See how it might affect your tax payments over the coming months with our quick calculator.
Tax Documents
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Alternative ways to challenge HMRC
After several months of trying to get your point across to HMRC you’re getting nowhere. Might a formal review help resolve the issue and how do you go about applying for one?
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Director's or employee's loan account record
Director’s loan account record A taxable benefit in kind may arise where a director is provided with a loan, either interest free or at a rate of interest below HMRC’s official rate (3% for 2016/17). Use this document to calculate what, if anything, you need to declare to HMRC. Make a note Where a cheap rate or interest-free loan is no more than
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Dividend waiver
A dividend waiver is a document produced by a sharelder to show that they have given up (waived) their right to one or more dividends that they would otherwise be entitled to. A waiver can be used in income tax and inheritance tax planning but it must be made as a deed or HMRC will not accept its validity.
Calendar
* All dates are subject to possible adaptations