Claim a refund if you have overpaid tax
There are various reasons why tax may be overpaid, and when more tax has been paid than is due, it is understandable that the taxpayer …
Starting a business as a sole trader
When starting a business, there are various decisions to make and tasks to perform. One of the first questions to address is whether to run …
Using salary sacrifice to beat the rise in employer’s NIC
One of the more unpopular Budget announcements was the rise in employer’s National Insurance from 13.8% to 15% from 6 April 2025. The Class 1A …
Is it worth paying voluntary Class 3 NICs?
The payment of National Insurance Contributions (NICs) is linked to entitlement to the state pension. If sufficient National Insurance Contributions of the right type are …
Using the VAT flat rate scheme
The VAT flat rate scheme is a simplified flat rate scheme which can be used by smaller businesses to save work. Under the scheme, businesses …
What to do if you cannot pay your tax bill
As the cost of living crisis continues to bite, you may find that come 31 January 2025 you are struggling to pay your Self Assessment …
Using ISAs to benefit from tax-free savings income
A combination of higher interest rates and stealth taxation may mean that you are now paying tax on savings income for the first time. If …
Self-Employed Expenses: What Can You Deduct?
If you are self-employed, you will pay tax on your taxable profit. In working out your taxable profit, you can deduct self-employed expenses that you …
The Evolving Role of Company Secretaries in Corporate Governance
In the rapidly changing corporate landscape, the role of the company secretary has undergone a remarkable transformation. Once considered purely administrative, today’s company secretaries are …
NIC for employers to rise
One of the key announcements in the Autumn 2024 Budget was the rise in employer’s National Insurance Contributions(NICs) from 6 April 2025. From that date, …
Extension of MTD (MTD for ITSA)
Under Making Tax Digital for Income Tax Self Assessment (MTD for ITSA), sole traders and unincorporated landlords within its scope will be required to keep …
What will mandatory payrolling look like?
Under mandatory payrolling, employers deal with taxable benefits provided to employees through the payroll, treating the taxable amount of the benefit like additional salary and …
