If redundancy strikes, you could receive up to £30,000 tax-free. Whether it’s statutory or a more generous employer offer, understanding your entitlements and the latest caps on weekly pay can make a real difference to your finances. There is a tax-free threshold of £30,000 for redundancy payments, regardless of whether the payment is your statutory […]
Monthly Archives: March 2025
The UK’s shift to the Foreign Income and Gains (FIG) regime from April 2025 changes how foreign income is taxed. If you are a UK resident, get ready to possibly pay UK Income Tax on all foreign earnings – no more non-dom remittance basis. UK Income Tax is generally payable on taxable income received by […]
1 March 2025 – Due date for Corporation Tax due for the year ended 31 May 2024. 2 March 2025 – Self-Assessment tax for 2023-24 paid after this date will incur a 5% surcharge unless liabilities are cleared by 1 April 2025, or an agreement has been reached with HMRC under their time to pay […]
The UK is making significant strides in promoting gender equality within its top companies. According to the latest FTSE Women Leaders Review, women now occupy over 43% of board positions across FTSE 350 companies, marking a notable increase from previous years. This progress underscores the UK’s commitment to fostering inclusive leadership and harnessing the diverse […]
On 24th February 2025, the Arbitration Act received Royal Assent, marking a significant milestone in modernising dispute resolution in England and Wales. This new legislation is set to bolster the UK’s position as a global leader in arbitration, attracting more international businesses and investments. Arbitration offers companies a quicker and more cost-effective alternative to traditional […]
Businesses can reclaim VAT on pre-registration expenses if they relate to taxable supplies made after VAT registration. The rules differ for goods and services, with time limits of 4 years for goods and 6 months for services. Proper understanding ensures you don’t miss out. VAT can only be reclaimed if the pre-registration costs relate to […]
Big changes are here for the self-employed! From 2024-25, profits must align with the tax year, replacing the old “current year basis.” Overlap relief is ending, and transition profits will be spread over five years. Here’s how the new system affects your tax bill. The reform to the self-employed tax basis period has introduced significant […]
1 February 2025 – Due date for Corporation Tax payable for the year ended 30 April 2024. 19 February 2025 – PAYE and NIC deductions due for month ended 5 February 2025. (If you pay your tax electronically the due date is 22 February 2025) 19 February 2025 – Filing deadline for the CIS300 monthly […]
The UK government is shaking things up with some significant pension reforms aimed at boosting economic growth and enhancing pension pots for working folks. Let’s dive into what’s happening. Unlocking Pension Surpluses Traditionally, occupational defined benefit (DB) pension schemes have been somewhat restricted in how they can use surplus funds. These surpluses often sit idle, […]
Building Brand AwarenessSocial media platforms provide an unparalleled opportunity to reach a broad audience and increase brand visibility. With billions of users across platforms like Facebook, Instagram, LinkedIn, and TikTok, businesses can showcase their products or services to potential customers who may not have encountered them otherwise. Consistently sharing engaging and relevant content helps to […]