Blog

How should multiple self-employed incomes be treated


June 4th, 2025

Running more than one self-employed business? HMRC will not always treat them as separate. Whether they are taxed as one combined trade or multiple depends on how your activities relate to each other. It is not a matter of choice, it is about how your business is run in practice. Get it right to avoid […]


Changes to IHT from April 2025


June 4th, 2025

From April 2025, Agricultural Property Relief from Inheritance Tax now extends to land under qualifying environmental agreements. This means landowners entering long-term stewardship schemes will not lose IHT relief. From April 2026, a new £1 million limit will apply to combined APR and BPR claims-making timely planning more important than ever. Agricultural Property Relief (APR) […]


Repay private fuel provided for company cars


June 4th, 2025

Employees using company fuel for private journeys can sidestep a hefty benefit charge by repaying the full private fuel cost to their employer by 6 July 2025. Miss the deadline, and tax becomes unavoidable. This repayment process is known as "making good," and requires the employee to repay the employer for private fuel no later […]


Employers, don’t forget to pay Class 1A NIC


June 4th, 2025

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 employers on the value of most taxable benefits offered to employees and directors, including company cars […]


Tax Diary June/July 2025


June 4th, 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 date is 22 June 2025). 19 June 2025 - Filing deadline for the CIS300 monthly […]


How to avoid the car fuel benefit tax charge


June 3rd, 2025

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 they fully reimburse their employer for private fuel use, they will […]


Business cost reductions – the low hanging fruit


May 29th, 2025

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 preserve cash flow. However, a common concern is that cutting costs too deeply may weaken a business's ability to […]


Inflation back up again


May 27th, 2025

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 year. What is driving the rise? Several factors contributed to this unexpected increase: Energy and utility costs: […]


Are we heading for quarterly tax payments?


May 22nd, 2025

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 paid. Could this be the beginning of a move towards quarterly tax payments? At the moment, individuals […]


UK Interest Rates Trending Down – What It Means for You


May 20th, 2025

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, especially for those involved in mortgages, savings, or business financing. Why the Shift? The BoE's […]


Take the next step, Call us Today
0800 043 9351