Oct 3, 2025 | Business Start Ups, Making Tax Digital, Self-Assessment, Tax
Important Update HMRC is changing the way many self-employed people and landlords report their income tax. This is called Making Tax Digital for Income Tax (MTD for ITSA). It means that instead of doing just one tax return a year, you’ll need to keep digital records...
Mar 1, 2025 | Expenses
Your Unique Taxpayer Reference (UTR) is your unique 10 digit code that identifies you to HMRC. Who needs one? Any individual or entity which needs to file a tax return will need a Unique Taxpayer Reference, also known as a UTR. You will receive one when you register...
Sep 25, 2023 | Companies House, FAQ, HMRC, Information, News, Tips
When your business was registered at Companies House, you would have provided lots of detail about the business and the people who run it – including who are your directors, company secretary, the breakdown of share capital, and the type of business your company does....
Sep 18, 2023 | Business Start Ups, FAQ, Information, Tax, Tips
The ability to legally assign an income tax repayment, or the right to an income tax repayment, to a third party has been removed by HMRC from March 15 this year, meaning any repayment will remain the legal property of the taxpayer in question. The change affects...
Sep 11, 2023 | Business Start Ups, Expenses, FAQ, Information, News, Tax, Tips, Vat
Up to 38,000 pubs and bars which have seen cuts in the tax they pay on the draught products they serve will be better off thanks to changes to the way that Alcohol Duty is calculated from August 1, 2023. The cuts will make pints and other products sold on tap 11p...
Sep 4, 2023 | Information, News, PAYE, Payroll, Pensions, Tax, Tips
People making the most of flexible pension withdrawals have been facing tax overpayments due to miscalculations by HMRC. In Q2 2023 alone, the taxman repaid £56,243,842 to people who had been taxed more that they should on their pension withdrawals. This amounts to an...
Aug 14, 2023 | Expenses, FAQ, Information, News, PAYE, Payroll, Tips
We all love a perk of the job, and a major industry has built up around the types of employee perks companies are able to offer. The best news of all is that most of these will be tax deductible, which means the taxman will fund at least part of them. Everything from...
Aug 7, 2023 | Business Start Ups, Expenses, Information, News, Tax, Tips
Charitable giving is something many organisations might not be considering in the current climate, especially as everyone is struggling to pay their bills. But if you have money to spare within your business, then charitable giving is a great way to reduce your tax...
Jul 31, 2023 | National Insurance, News, Tips
Do you struggle to remember – or find – your National Insurance number when you’re asked for it? If so, you’re not alone. So, it will be a relief to many that HMRC has now created a way for iPhones to store someone’s National Insurance number in their Apple Wallet...
Jul 24, 2023 | Information, News, PAYE, Self-Assessment
The threshold for people taxed through PAYE who are required to file a self-assessment return has increased from £100,000 to £150,000. Those affected should be contacted by HMRC if they need to change anything. That said, there have been times in the past where HMRC...
