The latest tax, employment, business and economic news affecting firms and individuals alike. Updated each day.
- How Making Tax Digital Can Actually Save You Time (and Stress)Making Tax Digital (MTD) might sound like just another rule to follow—but could it actuallymake your life easier? This blog post will break down how MTD can save you time, reduce stress, and help you stay in control of your finances. If you’ve ever scrambled to find receipts before a tax deadline or spent hours… Read More »How Making Tax Digital Can Actually Save You Time (and Stress)
- New Tax Requirements for Sole Traders and Directors in 2025/26Starting in the 2025/26 tax year, new mandatory requirements will be introduced for sole traders and company directors filing self-assessment tax returns. These changes aim to enhance the data HMRC collects, ensuring greater transparency and accuracy. While some of these requirements were previously voluntary, they will now be compulsory for taxpayers who start or cease… Read More »New Tax Requirements for Sole Traders and Directors in 2025/26
- Understanding the Small Companies Regime Under the Companies Act 2006: A Guide for Business OwnersIf you’re running a company and wondering whether you qualify as “small” under the Companies Act 2006, you’re in the right place. Understanding whether your business qualifies for the small companies regime is crucial for determining the level of financial reporting and auditing requirements you must follow. This blog will walk you through the relevant… Read More »Understanding the Small Companies Regime Under the Companies Act 2006: A Guide for Business Owners
- Making Tax DigitalWhat is Making Tax Digital? Making Tax Digital (MTD) is a government initiative designed to streamline the UK tax system by digitising tax reporting and filing. Its ultimate goal is to reduce errors, improve efficiency, and make it easier for businesses and individuals to manage their tax affairs. MTD is an important step in the… Read More »Making Tax Digital
- Tackling Tax Evasion: What are the key issues?In 2022/23, HMRC have lost £5.5 billion of revenue. 81% (£4.4 million) of this loss was attributed to small businesses (companies, partnerships and sole traders). In the years since, tax evasion among small business has increased, although it does remain stable across other sizes of businesses. According to the National Audit Office, HMRC does not… Read More »Tackling Tax Evasion: What are the key issues?