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VAT and the goods you use in your own business
Using business goods instead of selling them is usually VAT-free, but some cases require VAT payments. These "taxable self-supplies" include cars taken from stock and certain buildings. Read
Inheriting spouse’s State Pension
If your spouse or civil partner has passed away, you may inherit part of their State Pension, depending on when you reached pension age. Find out what you could claim, from basic pension boosts to
Letting out part of your home – claiming lettings relief
Renting out part of your home may affect Capital Gains Tax when you sell. While Private Residence Relief applies, Letting Relief can reduce taxable gains. Learn how PRR, Letting Relief, and exemptions
More tax on business disposals from April 25
From April 2025, the Capital Gains Tax rate on Business Asset Disposal Relief rises from 10% to 14%, increasing to 18% in 2026. Business owners planning to sell may benefit from acting before these
Making a negligible value claim with HMRC
A negligible value claim lets taxpayers declare an asset worthless for tax purposes, realising a capital loss without selling. This can be backdated up to two years, offering flexibility in managing
Essential Credit Control for SMEs
A well-structured credit control system is crucial for small businesses to maintain cash flow and reduce the risk of bad debts. Without proper controls, late payments can disrupt operations and put
Sources of funding for small businesses
Starting or growing a small business often requires capital, but securing the right funding can be a challenge. Fortunately, there are various funding sources available to entrepreneurs, each with its
Tax relief for structures and buildings expenditure
Maximise your tax relief with the Structures and Buildings Allowances (SBA). If you have invested in new or renovated commercial structures, you could claim 3% relief annually—saving you money
How far back can HMRC assess under-declared taxes?
From income tax to VAT, HMRC has specific time limits for issuing tax assessments. Depending on the circumstances—whether it’s standard, careless, offshore, or deliberate behaviour—these
UK residence and tax issues
The UK’s shift to the Foreign Income and Gains (FIG) regime from April 2025 changes how foreign income is taxed. If you are a UK resident, get ready to possibly pay UK Income Tax on all foreign
What’s included in your VAT return
With a £90,000 VAT registration threshold, many UK businesses might wonder whether to register voluntarily. Understanding how to balance output and input VAT can help optimise cash flow and avoid
Tax-free redundancy payments
If redundancy strikes, you could receive up to £30,000 tax-free. Whether it’s statutory or a more generous employer offer, understanding your entitlements and the latest caps on weekly pay can make a
