News
Selling online and paying tax
Selling online? Whether it’s a hobby or a business, you may need to pay tax if your earnings exceed £1,000. From services to content creation, it’s vital to understand self-assessment rules and new
Penalties for late filing of tax returns
HMRC reports over 63,000 taxpayers filed their returns over the New Year, but 5.4 million still need to act before the looming 31 January 2025 deadline. File now to avoid penalties, pay your 2023-24
Beware the legal minefield of the transferring of contractual undertakings
A recent case [London United Busways Ltd. (LUB) v De Marchi and Abellio London [2024] EAT 191] revealed the complexities of working under the Transfer of Undertakings (Protection of Employment)
Roll-out of new digital markets regime
The UK’s Competition and Markets Authority (CMA) has initiated its new digital markets competition regime, effective from January 1, 2025, following the Digital Markets, Competition and Consumers
Ticket touts’ days are numbered
The UK government has unveiled a series of proposals aimed at curbing exploitative practices in the ticket resale market, seeking to protect consumers from exorbitant prices and enhance transparency
Is your trade in goods or services a business
Selling goods or services? It’s vital to know if HMRC considers this a business. From regular sales to earning commissions, their rules on ‘trading’ impact your tax obligations. Here’s a simple guide
Tax relief for zero emission cars and electric charge points
Great news for businesses! Tax relief on zero-emission cars and EV charge points has been extended until 2026. This move aligns with the UK’s ambitious Zero Emission Vehicle mandate, driving the shift
Future increases in CGT on sale of a business
Planning to sell your business or shares? Capital Gains Tax rates for Business Asset Disposal Relief (BADR) are set to rise from 10% to 14% on 6 April 2025, and to 18% from 6 April 2026. Selling
What expenses can be claimed against rental income
Are you a landlord? Maximise your rental income by knowing which expenses you can claim to reduce your tax bill. From maintenance costs to Replacement of Domestic Item Relief, understanding allowable
Finding your National Insurance number
Misplaced your National Insurance number? Do not worry! From checking payslips to using the HMRC app, there are many ways to recover it. If all else fails, you can request it via post. Here is
Last month to file 2023-24 tax return
The 31 January 2025 deadline for self-assessment tax returns is fast approaching. Avoid penalties and last-minute stress by filing your return and paying any tax due promptly. Don’t forget, first-time
What to Expect from the Chancellor’s Spring Statement 2025
The Chancellor’s Spring Statement, scheduled for 26 March 2025, is expected to focus on navigating the challenges of public finances, economic growth, and household pressures.
Economic Context
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