National Insurance credits can help qualifying applicants to fill contribution gaps in their National Insurance record. This can help taxpayers increase their number of qualifying National Insurance years, which may increase the number of benefits they are entitled to, such as the State Pension. This could happen if someone was: employed but had low earnings […]
If you have not yet checked whether you need to use Making Tax Digital (MTD) for Income Tax, you should do so urgently. HMRC has issued a timely reminder that for many self-employed and landlords the way to report tax to HMRC will change significantly from 6 April 2026. MTD for Income Tax is a […]
The Additional State Pension is only available to those who reached the state pension age before 6 April 2016 and are receiving the Old State Pension. The Additional State Pension is an extra amount of money paid on top of the basic Old State Pension. The Old State Pension is designed to provide individuals of […]
If you are self-employed, it is important to understand which car and travel costs can be claimed. You can claim allowable business expenses for car, van, or travel costs, which reduce your taxable profit. Typical allowable costs include: Vehicle insurance Repairs and servicing Fuel Parking Hire charges Vehicle tax and licence fees Breakdown cover Train, […]
1 March 2026 – Due date for Corporation Tax due for the year ended 31 May 2025. 2 March 2026 – Self-Assessment tax for 2024-25 paid after this date will incur a 5% surcharge unless liabilities are cleared by 1 April 2026, or an agreement has been reached with HMRC under their time to pay […]
Over the past week, one topic has dominated discussion among UK businesses, rising employment costs and the difficult decisions they are forcing on employers. This issue is particularly visible in the retail and hospitality sectors, but the underlying pressures apply across much of the economy. Employers are facing a combination of higher National Living Wage […]
The UK Government has launched a new campaign urging businesses to strengthen their defences against cybercrime, reflecting growing concern about the scale and cost of online attacks on UK firms. The announcement, published on gov.uk this week, has attracted strong interest from business owners, particularly small and medium sized enterprises that may lack dedicated IT […]
Today the Office for National Statistics confirmed that UK inflation has fallen to 3.0 per cent in the year to January 2026, the lowest rate seen in about ten months and down from 3.4 per cent in December. This brings good news for households and businesses dealing with high costs, particularly as it follows a […]
Many UK businesses are trading through a period of prolonged economic uncertainty. Costs remain high, consumer confidence is fragile, and access to finance is tighter than it was only a few years ago. In this environment, protecting cash flow and maintaining adequate cash reserves has become more important than chasing short term growth or headline […]
A UK parliamentary report has been widely covered this week warning that small firms are operating under pressures similar to those seen during the pandemic, but without equivalent support. The business and trade committee highlighted rising taxes, high energy costs, crime and chronic late payments as factors threatening the survival of many local firms, with […]