Resources - hmrc

A selection of great tools, business guides and articles to help make your business a success

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MTD to expand to income tax in 2026 – get ready!

MTD to expand to income tax in 2026 – get ready!

The Making Tax Digital (MTD) regime is set to begin applying to income tax soon, and the first people to be brought into the regime will be the self-employed and landlords. Although April 2026, which is when relevant taxpayers must sign up to file digitally, sounds a...

Changing VAT details must now be done online

Changing VAT details must now be done online

Anyone who needs to make changes to their VAT details now needs to do this online through their VAT online account. Prior to August 5, you could use the VAT484 form, or another postal or electronic method. But this is being phased out. The digital route is more secure...

How to deal with VAT on school fees from January 2025

How to deal with VAT on school fees from January 2025

The new Labour Government will be adding VAT to school fees from January 1 next year, which will increase the bill to parents by 20%, unless schools choose to reduce fees another way to reduce the impact of the extra tax. Private schools have been exempt from VAT on...

Keep good records to avoid a fine from HMRC

Keep good records to avoid a fine from HMRC

Keeping good business records is an essential part of running a business, but it is also a legal requirement when it comes to HMRC. To keep on the right side of the law, businesses and individuals should keep records of their income and expenditure for at least six...

Retiring overseas? Then think about your pension

Retiring overseas? Then think about your pension

If you are planning to retire overseas, you need to consider what to do with your pension once you leave the UK. There are a few options, including leaving your pension in the same UK pension fund, and just having the income paid to a sterling bank account, and then...

Bona Vacantia – what happens when an estate is unclaimed?

Bona Vacantia – what happens when an estate is unclaimed?

Many people find themselves facing their highest marginal tax rate after they have died, with Inheritance Tax at 40% for any amount over the £325,000 nil rate band, or up to £500,000 if you include the Residence Nil Rate Band and you have children. There are ways to...

Businesses look to increase home working

Businesses look to increase home working

The number of businesses planning to increase home working for staff has risen according to the latest official figures. In late May 2024, around one in five (19%) businesses said they either had or were intending to raise the number of staff who are working from...

HMRC app helps with student finance applications

HMRC app helps with student finance applications

An app from HMRC which provides information such as your National Insurance number and tax information has been flagged by the taxman to help students completing their A’ Levels this year and planning to head to university in September. Anyone who is applying for...

Want to avoid fines from HMRC? Here’s how

Want to avoid fines from HMRC? Here’s how

No-one likes to pay more to the taxman than they have to, but if you fall foul of HMRC’s rules, you could find yourself paying a penalty, and interest if things are not sorted out quickly. There are various fines you could face from HMRC if you get things wrong, and...

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