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Budget date announced
The Chancellor of the Exchequer, Rachel Reeves has confirmed, in a video message, that the next UK Budget will take place on Wednesday, 26 November 2025.
Details of all the Budget announcements will
16 years old – the minimum age for a company director
Thinking of starting a company at 16? Know the rules, risks and responsibilities before you take the leap.
The Companies Act 2006 does not set a minimum age for shareholders, meaning even minors can
What is the settlement legislation?
Thinking of gifting income to a spouse or partner? HMRC’s settlements rules may still tax it as your own.
The settlements legislation is contained in s.624 ITTOIA 2005. The legislation seeks to
How do HMRC define “wholly and exclusively” for tax purposes
Not sure if a business cost is deductible? HMRC’s ‘wholly and exclusively’ rule is the key test.
When deciding whether an expense is deductible or not it is important to bear in mind that the
Using your own car for work purposes
Using your own car or bike for work travel? You may be able to claim tax relief for business mileage.
If you are employed and spend your own money on items needed for your job, you may be eligible to
When you cannot charge VAT
Not all goods and services carry a 20% VAT, knowing the right rate can save costly mistakes.
When a VAT-registered business issues an invoice to their customer, they must ensure that they charge the
How to pay corporation tax online
Paying Corporation Tax? Always use the correct reference or risk delays and penalties.
To pay Corporation Tax via online or telephone bank transfer, you can use either a UK or overseas bank
What insurance cover should a company consider?
Running a small business comes with plenty to juggle, and while insurance might not be the most thrilling task, it is absolutely essential. There is one policy you are legally required to have:
GOV.UK One Login – enhanced security from 13 Oct 2025
From 13 October 2025, access to Companies House WebFiling will require GOV.UK One Login. This replaces the older Government Gateway sign-in and is part of the wider move towards a single, more secure
Tax Diary October/November 2025
1 October 2025 – Due date for Corporation Tax due for the year ended 31 December 2024.
19 October 2025 – PAYE and NIC deductions due for month ended 5 October 2025. (If you pay your tax
VAT late filing penalties
New rules mean late VAT filings and payments now trigger points, fines and interest charges.
The VAT late filing penalties regime changed for accounting periods beginning on or after 1 January 2023.
Gifts with reservation of benefit
Gifting assets can cut inheritance tax, but traps like “gifts with reservation of benefit” may undo the plan.
The majority of gifts made during a person’s lifetime are not subject to tax
