Following the budget, businesses are increasingly looking at ways to reward their team without attracting unnecessary tax burdens. Fortunately, HMRC offers several tax-free perks that allow employers to treat their staff while staying on the right side of the law. From Christmas parties to staff suggestion schemes, now is the perfect time to make use… Read more »
For those looking to pass wealth to the next generation while retaining some control, the two most common options are, Family Investment Control (FIC’s) and Trusts. But which one is more suitable for you? Or do you need both? With tax rules shifting and estate planning under increased scrutiny, getting the right structure in place… Read more »
The 2025 UK Budget introduces one of the most significant overhauls to the tax system in more than a decade, reshaping how individuals, landlords, investors and businesses are taxed. Unlike previous Budgets that focused on incremental change, the 2025 statement marks a shift toward structural reform broadening the tax base, reshaping wealth taxation, and tightening… Read more »
HMRC is no longer playing softly. In early 2025 a Freedom of Information request revealed that the number of winding‑up petitions issued by HMRC had surged to a staggering 36,686. This marks a dramatic increase from the 1,414 recorded at the start of the same year. This marks a nearly 2,500 % rise, highlighting a substantial… Read more »
Pensions have long been promoted as one of the most tax-efficient ways to save for retirement and pass on wealth. But from April 2027, that advantage will vanish. Under new rules, pensions will be treated as part of your estate for Inheritance Tax (IHT), potentially attracting a 40% tax charge. Combined with income tax on… Read more »
If you’re an influencer, receiving freebies might feel like part of the job. From designer handbags to luxury holidays, it can seem like easy perks for a bit of content. But if you’re not careful, these so-called gifts could land you with an unexpected tax bill. HMRC is now keeping a close eye on online… Read more »
Many believe that Making Tax Digital (MTD) is just another fleeting government initiative. But while it might seem like something you can ignore, the reality is quite different. MTD is very much here to stay, and HMRC has no intention of scrapping it. So, the question becomes not whether you should comply, but whether you… Read more »
For directors of limited companies, there’s one financial pothole that’s often underestimated until it causes serious damage: the Director’s Loan Account. While it may seem like a convenient method to draw funds from your own company, misunderstand its rules and you could be hit with a sizeable tax bill. (Read Time: Approx. 4 minutes) Topics… Read more »
Receiving a letter from HMRC can feel daunting, and how you respond can shape how long and how deep the enquiry becomes. Even with nothing to hide, oversharing can drag matters out. Knowing what is required and where the legal boundaries lie is essential. (Read Time: Approx. 4 minutes) Topics Discussed: Why Giving More Than… Read more »
When you thought the paperwork couldn’t get any worse, HMRC is back with yet another layer of red tape for company shareholders. From the 2025/26 tax year, individuals receiving dividends from close companies will face new reporting obligations. Ignore them and it could cost you. Here’s what you need to know to stay compliant and… Read more »
