Taking a dividend before 6 April 2026
As the tax year draws to a close, directors of personal and family companies should consider whether it is worthwhile taking a dividend before 6 …
Are you paying sufficient National Insurance for a full state pension?
State pension entitlement depends on a person having sufficient qualifying years, which in turn depends on them having paid or been treated as having paid …
Five year-end tax planning tips
As the end of the 2025/26 tax year approaches, it is a good idea to undertake a financial review and assess whether there is any …
Do I need an accountant for limited company?
If you’ve recently set up a limited company, or you’re about to, you’ve probably typed this into Google: “Do I need an accountant for limited …
Keeping digital records for Making Tax Digital
Making Tax Digital for Income Tax Self-Assessment (MTD for ITSA) will apply from 6 April 2026 to sole traders and unincorporated landlords with combined trading …
How can sole traders obtain relief for trading losses?
In difficult trading conditions, a sole trader may realise a loss rather than a profit. Where this is the case, it is important that the …
Tax implications of reimbursing employee expenses
Employees often incur expenses in doing their job and they may be able to claim these back from their employer through the expenses system. Where …
Claiming a tax refund
It is reasonable to assume that if a person pays too much tax, HMRC will automatically send the overpayment back to them. Unfortunately, this is …
Capital gains tax annual exempt amount – Use it or lose it!
The 2025/26 tax year comes to an end on 5 April 2026. If you are thinking of selling assets that may realise a gain and …
New 40% FYA and reduction in WDAs
A new 40% first-year allowance (FYA) is to be introduced from April 2026. It will apply to main rate expenditure on new assets, excluding cars. …
Benefit in kind changes
As far as benefits in kind are concerned, there were both winners and losers in the Budget. Winner – easement for plug-in hybrid electric vehicles …
The £100,000 cliff edge
All things being equal, receiving a pay rise which takes your income over £100,000 would be seen as a cause for celebration. However, all things …
