Tip of the Week

Making Tax Digital (MTD) for income tax was supposed to modernise the tax system. A survey of 1,000 in-scope sole traders found that 23% had already set up, or begun setting up, a limited company partly or wholly due to MTD. A further 57% had explored or considered incorporation at least partly because of the […]

Even if you are receiving your pension, you will have to pay tax on your income if it is over a certain amount. Not all income is taxable, and you may be able to claim allowances or reliefs to reduce the amount of tax you pay. Not all income counts towards Income Tax. You may

Use your personal tax account to check your records and manage your details with HM Revenue and Customs. You can: check your Income Tax estimate and tax code submit, view or manage a Self-Assessment tax return claim a tax refund check your Child Benefit check your income from work in the previous 5 years check

Every year we have a few tax returns that we file where no notice to file has been issued by HMRC. Some of these will inevitably be submitted after the normal 31 January filing deadline. Where HMRC had not issued a notice to file Self-Assessment tax returns, and the returns are filed on a voluntary

If you are within self-assessment, you may need to make a payment on account (POA) against your income tax self-assessment and class 4 national insurance contributions liability for 2025/26 by 31 July 2026. With the 31 July 2026 deadline for making the second POA for 2025/26 fast approaching you should check if a POA is required, so

The let property campaign (LPC) has been running for some 13 years now, It provides individuals who have been letting out residential property in the UK and/or abroad with a streamlined opportunity to bring their UK tax affairs up to date by making a voluntary disclosure via the HMRC online portal. Provided a full and

The introduction of Making Tax Digital (MTD) for Income Tax represents one of the most significant changes to the UK tax system in a generation. While the initiative has been discussed for several years, many taxpayers and advisers are now approaching a critical stage as implementation deadlines draw closer. While some business owners are actively

The government has decided to go ahead with balance sheet and profit and loss (P&L) filing for small companies and micro-entities from 1 April 2028. While they will have to file more detailed accounts, these smaller businesses will not be required to have their full accounts details published on Companies House for public view on

The rules changed on 6 April 2026. During COVID, it was common for people working from home to claim a deduction against their income tax. The amount that could have been claimed would have been based on actual expenditure with evidence or the fixed rate of £6 a week without receipts. It was not much,

Companies House is warning about the rising risk of unsolicited payment requests from fraudsters holding themselves out as being from Companies House. The fake invoices are often detectable when the paperwork is examined, but it is essential to be ‘vigilant about misleading requests for payments, sent by organisations not affiliated with government’, Companies House warned.