The 7-year gift rule is still an available option for those making lifetime gifts, offering a way to potentially reduce Inheritance Tax (IHT) liability. Most gifts made during a
When a new employee joins your payroll, it is the employer’s responsibility to ensure they are aware of their rights and that the correct tax is deducted from their salary. This
The VAT treatment of car leasing is an important consideration for businesses that incurs VAT on these costs. In general, leasing companies are able to recover the VAT incurred on
If you have not yet checked whether you need to use Making Tax Digital (MTD) for Income Tax, now is the time to urgently see if you are affected. The Income Tax reporting
The Marriage Allowance applies to married couples and civil partners where one partner does not pay Income Tax, usually because their income is below the personal allowance. For
Rolling over capital gains can be an effective way for business owners to defer Capital Gains Tax (CGT) when selling or disposing of certain business assets. This is done using
Tensions in the Middle East have increased concerns about potential disruption to global oil supplies. Even where physical shortages do not arise, uncertainty can still push up
Cash flow remains one of the most significant challenges facing small businesses in the UK. Even profitable businesses can encounter difficulties if income is received later than
A Companies House blunder has raised concerns after a flaw in the WebFiling service briefly exposed sensitive company data. The issue, identified on 13 March 2026, meant that a
If you are concerned by the continuing pressures on your take-home pay and need some certainty on your Income Tax liability, the HMRC calculator available at
Following the deadline for submission of self-assessment tax returns for the 2024-25 tax year, it is a useful time to revisit the rules on how long you should keep your tax
As a general rule, someone who inherits property, money or shares is not liable to pay tax on the inheritance itself. This is because any Inheritance Tax (IHT) due is normally paid
You may have to pay Capital Gains Tax (CGT) tax when you sell or dispose of a property that is not your main home. This includes buy-to-let properties, business premises, land and
The Rent a Room Scheme is a set of special rules designed to help homeowners who rent out a room in their home, creating a potentially valuable tax-free income stream. Under the
A dividend is a distribution of a company’s profits to its shareholders. Companies may pay dividends in cash or additional shares, giving investors a share of the business’s
The employment status of a former bricklayer was recently called into question in establishing liability for asbestos exposure. The widow of the late Mr. Eric Alger, who died from
Many business owners spend years building their companies but give far less attention to planning how they will eventually exit. In reality, a successful exit rarely happens by
Business solvency refers to a company’s ability to meet its financial obligations as they fall due and to maintain a healthy balance between its assets and liabilities. It is one