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Claim for a business journey in a private vehicle
Use your own vehicle for work? You could be entitled to a tax-free mileage allowance. Make sure you are not missing out on HMRC-approved rates.
If you use your own car, van, motorcycle, or bicycle
Private Residence Relief – when it applies
Selling your main residence? Private Residence Relief can exempt you from Capital Gains Tax. If you meet certain conditions, there may be nothing to pay.
In most cases, Capital Gains Tax (CGT) does
Do not forget to claim the marriage allowance
If one partner in a marriage or civil partnership earns under £12,570, you could save up to £252 a year, and up to £1,260 if you backdate your Marriage Allowance claim for the past four years.
The
Current IHT gift reliefs
Lifetime gifts can reduce Inheritance Tax, but survival for seven years and using key exemptions like the £3,000 annual allowance are crucial to making them fully tax-free.
Most gifts made during a
Business Asset Disposal Relief – forthcoming changes
The BADR Capital Gains Tax rate has risen to 14% from April 2025 and will increase further to 18% in April 2026.
Business Asset Disposal Relief (BADR) offers a valuable tax advantage by applying a
New requirement – verifying ID at Companies House
Identity verification is now rolling out for directors, PSCs, and agents, with more filing roles to be included soon under new anti-fraud rules.
Companies House is beginning to roll out mandatory
When changing a company’s name absolves a daughter company of its obligations
The Court of Appeal addressed the complexities of benefit scheme amendments and the lines of responsibility within corporate structures in a complex case surrounding post-employment entitlements. A
Four critically important KPIs
Gross profit margin
This measures the profitability of your core operations by comparing gross profit (sales minus cost of goods sold) to total revenue. A stable or improving gross margin indicates
The value of tax planning for high net worth individuals
For high net worth individuals (HNWIs), tax planning is not simply a compliance activity, it is a strategic tool to preserve and grow wealth. With rising scrutiny from HMRC, frozen allowances, and
Tax Diary July/August 2025
1 July 2025 – Due date for corporation tax due for the year ended 30 September 2024.
6 July 2025 – Complete and submit forms P11D return of benefits and expenses and P11D(b) return of Class 1A
VAT exempt supplies
Not all VAT-free sales are the same. Understanding the key difference between zero-rated and VAT-exempt supplies could save your business money and prevent costly VAT mistakes.
It’s important to
Claiming tax relief on pension contributions
Private pension contributions can attract up to 45% tax relief, if you know how to claim it. Use your £60,000 annual allowance wisely and carry forward unused relief from past years to boost your
