Employers must pay Class 1A NICs for 2024-25 benefits by 19 July (post) or 22 July (electronic). These apply to perks like company cars and private health cover-late payment risks penalties from HMRC.

Class 1A NICs are payable by...

1 June 2025 - Due date for corporation tax due for the year ended 31 August 2024.

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

19...

If you drive a company car and your employer pays for your fuel, including for personal use, you could be facing a sizeable tax charge unless you repay the private fuel element by 6 July 2025. Many company car users are unaware that unless...

Every business reaches a point where reducing costs becomes a priority. Whether due to tighter margins, falling demand, or a broader economic slowdown, managing overheads is one of the most immediate ways to improve profitability and...

Today's (21st May) inflation figures have certainly stirred the economic waters. The Office for National Statistics (ONS) reported that UK inflation surged to 3.5% in April, up from 2.6% in March, marking the highest rate in over a...

The roll-out of Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA), due from April 2026 for the self-employed and landlords with income over £50,000, has reignited speculation about a fundamental shift in how and when tax is...

After a period of rising interest rates, there's a noticeable shift in the UK financial landscape. The Bank of England (BoE) has recently reduced its base rate to 4.25%, marking the fourth cut since August 2024. This move is significant,...

Making Tax Digital for Income Tax: One Year to Go

The UK tax landscape is on the cusp of a significant transformation. Starting 6 April 2026, sole traders and landlords with annual gross income exceeding £50,000...

The UK government is introducing a significant shift in pension schemes with the expansion of Collective Defined Contribution (CDC) pensions. This move aims to provide more predictable retirement incomes while reducing risks for future...

Alongside tax reforms, HMRC's Spring 2025 update introduces a variety of regulatory changes that will affect how small businesses operate and interact with government systems. Here's what's new:

1. Cultural Gift Scheme...