Author Archives: Fairhurst Accountants

1. Determine If You Need to Follow Export Procedures

Export procedures apply when you're moving goods permanently from:

• England,...
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In a significant move to bolster British businesses amidst evolving global trade dynamics, the UK government has unveiled a comprehensive support package aimed at enhancing financial backing and fostering...

Small changes can have a significant impact when it comes to business finances. This is particularly true when considering adjustments to pricing and cost control. In this article, we will illustrate how...

With the rising cost of everyday essentials continuing to impact households and businesses alike, many clients have been asking us how they can better manage their money in the current...

Big news on the wage front. As of April 1, 2025, the UK has rolled out new National Minimum Wage (NMW) and National Living Wage (NLW) rates, giving millions of workers a well-deserved pay bump. Let's break down...

From April 2025, Child Benefit increases to £26.05 for the eldest child and £17.25 for others. Payments stop after a child turns 16 unless they continue in approved education or training. Parents must update HMRC by 31 August to avoid...

1 April 2025 - Due date for corporation tax due for the year ended 30 June 2024.

19 April 2025 - PAYE and NIC deductions due for month ended 5 April 2025. (If you pay your tax electronically the due date is 22 April 2025).

19...

Making Tax Digital for Income Tax (MTD for IT) will become mandatory in phases from April 2026. If you're self-employed or a landlord earning over £50,000, get ready for quarterly updates, digital record keeping, and a new penalty...

Couples who jointly own rental property are usually taxed 50:50, even if they own different shares. But if you're married or in a civil partnership, Form 17 lets you split income based on actual ownership-provided you meet HMRC's...

When selling assets on which capital allowances were claimed, you may need to adjust your taxable profits with a balancing charge or allowance. Understanding these rules ensures you don't face unexpected tax liabilities. Learn how to...