A selection of business news and articles to help make your business a success
Budget 2025 has been billed as a “fair” budget which targets “those with wealth and assets”. If you’re a contractor, a freelancer or a small company owner, we’ve got to be honest – from your perspective, that mostly means higher tax on dividends, savings and pensions....
Around 600,000 late-filing penalties have been paid to HMRC in the last five years by some of the lowest earners in the UK despite them not owing any tax, according to Tax Policy Associates. Missing the filing deadline of January 31 for a self-assessment tax return...
HMRC is reminding parents of 16 to 19-year-olds to extend their Child Benefit claim by August 31 to ensure their payments continue. Last year, 870,000 parents extended this benefit, with most confirming the extension online. You can use either the HMRC app if you have...
HMRC has published two new surveys which leading advisory firm BDO are concerned could result in the removal of valuable employment perks, such as salary sacrifice pension schemes and Benefit in Kind arrangements, during the Chancellor’s Autumn Statement. One survey,...
The Government’s new Pension Schemes Bill is expected to make it easier for millions of people to manage their pensions, by improving returns, and combining smaller pension pots to create bigger and better pension funds. The benefits of combining smaller pension pots...
Just under 300,000 self-assessment tax returns were filed in the first week of the 2025/26 tax year, according to HMRC, way ahead of the deadline of January 31, 2026. A total of 299,419 tax returns were filed between April 6 and April 12 – 28,503 more than the same...
HMRC’s challenges in administering the tax system, as it has become increasingly complex, have been revealed in Parliament’s Public Accounts Committee (PAC) report, with trust in the agency falling, and costs rising significantly. The simplification of taxation has...
The Government has revealed a package of changes designed to simplify the tax and customs system and to help deliver its ‘Plan for Change’. There are 26 measures included in the changes, plus two administrative measures to strengthen the “integrity of the tax and...
Anyone making disposals of assets on or after October 30, 2024, will need to take some extra steps to calculate any Capital Gains Tax (CGT) due. These extra steps, which will affect individuals, trustees and personal representatives, have resulted from the...
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