News
Deadline for paying Class 1A NIC
Employers must pay Class 1A NICs on 2024-25 benefits by 19 July (22 July if paying electronically). Avoid penalties by meeting deadlines and using correct references.
Employers are reminded of the
HMRC interest rates following Bank of England rate cut
Following a Bank Rate cut to 4.25%, HMRC late payment and repayment interest rates will drop from 19 and 28 May 2025. Check which taxes this affects.
The Bank of England’s Monetary Policy Committee
MTD for Income Tax deadline is approaching
MTD for Income Tax starts 6 April 2026 for the self-employed and landlords with £50k+ income. Plan early to stay compliant and avoid disruption.
MTD represents one of the most significant overhauls
Save up to £2,000 a year on childcare costs
Is your child starting school this September? Tax-Free Childcare could save you up to £2,000 a year. Check your eligibility now and start planning ahead.
Working families whose children are starting
Why filing early makes sense
Filing your 2024-25 Self-Assessment return early means faster refunds, better budgeting, and no deadline stress. Do not delay, start gathering your tax details today.
The 2024-25 tax year officially
Tax Diary June/July 2025
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
Definition of R&D for tax purposes
When claiming tax relief or capital allowances on R&D, it’s crucial to ensure activities meet strict statutory definitions. Understanding Section 437 ITA and DTI guidelines is key to securing
Tax treatment of income after cessation
After a business closes, income can still arise. Post-cessation receipts must be properly reported and taxed under specific rules. Knowing what qualifies — and what does not — ensures
Tax refunds for dissolved companies
Dissolving a company ends its legal existence — but unresolved assets become property of the Crown under bona vacantia. Directors must act carefully to settle assets and liabilities before
Tax relief if required to work from home
If employees must work from home and their employer does not reimburse certain costs, they may be entitled to claim tax relief. Understanding the rules for household expenses, business travel, and
Is income from hobbies taxable?
Not every money-making hobby counts as a business for tax purposes. Knowing when a hobby crosses into trading territory is vital to avoid unexpected tax bills. If your side project is growing, it
State Benefits – What is taxable and what is not
Not all state benefits are tax-free! Some, like the State Pension and Carer’s Allowance, are taxable, while others, like PIP and Universal Credit, are not. Knowing the difference can help you stay on
