Tax-free trivial benefits
The tax exemption for trivial benefits is a useful one as it allows employers to provide certain low-cost benefits to employees without an associated tax …
Correcting errors in your VAT return
It is easy to make mistakes when completing your VAT return. However, where mistakes are made, it is important to correct them. This is fairly …
Tax implications of writing off a director’s loan
Personal and family companies often make loans to directors. However, there can be tax and National Insurance implications of doing so. Where the loan remains …
Calculating adjusted net income and why it matters
Adjusted net income is a key measure of income for tax purposes. It is total taxable income before taking account of any personal allowances and …
Dealing with a Simple Assessment letter
Simple Assessment is used by HMRC to collect tax underpayments from taxpayers with straightforward tax affairs. It removes the need for the taxpayer to complete …
When do you need to register for VAT and how do you do it?
If you are running a business, regardless of whether you operate as a sole trader, in partnership or the business is run as a limited …
Making a loan from a personal company to a family member
There are many possible situations in which a person may make a loan to a family member, for example, a parent may lend money to …
Capital allowances for cars
Cars are a special case when it comes to capital allowances. While capital allowances may be claimed on cars used in a business, partners and …
Five tax-free health and welfare benefits
Employers are able to provide employees with a range of health and welfare benefits without giving rise to a tax charge under the benefits in …
Should you pay voluntary Class 2 National Insurance?
Self-employed earners whose earnings exceed the lower profits limit (set at £12,570 for 2025/26) must pay Class 4 National Insurance contributions on their profits. These …
Taxation of savings income in 2025/26
There are various ways to enjoy savings income without paying tax on it. In addition to the personal allowance, basic and higher rate taxpayers benefit …
Relief for additional expenses of working from home
In a post on X, HMRC recently warned taxpayers not to get caught out by ads promising quick refunds for working from home, urging taxpayers …
