Families claiming Child Benefit should be aware of the High Income Child Benefit Charge (HICBC), which can apply when one member of the household has a higher income. The charge applies where an individual has adjusted net income of more than £60,000 in a tax year and either they or their partner receives a Child […]
Research and Development (R&D) tax relief is designed to support companies that invest in innovation and seek to make advances in science or technology. The scheme offers businesses the ability to invest in new technologies and scientific development in exchange for generous tax reliefs. However, not every project will qualify, and businesses should carefully consider […]
Members of a Limited Liability Partnership (LLP) are normally treated as self-employed for tax purposes. However, special rules can apply where a member’s terms of membership are more akin to the terms of an employee than a partner in a traditional partnership. These are known as salaried members. The legislation applies a three-part test. A […]
Understanding dividend tax is important for anyone who receives income from shares in a company. Dividends are taxed differently from salary, pensions and other forms of income, with their own allowances and tax rates. For the 2026-27 tax year, individuals do not pay tax on dividend income that falls within their Personal Allowance of £12,570. […]
1 July 2026 – Due date for corporation tax due for the year ended 30 September 2025. 6 July 2026 – Complete and submit forms P11D return of benefits and expenses and P11D(b) return of Class 1A NICs for 2025-26. 19 July 2026 – Pay Class 1A NICs for 2025-26 (by the 22 […]
At some point in the life of a business, additional funding may be needed to support growth, purchase equipment, recruit staff, invest in new premises or simply strengthen cash flow. While there are now many alternative finance providers, banks remain an important source of business funding for many organisations. Preparing thoroughly before approaching your bank […]
Many UK businesses focus their sales efforts entirely on the domestic market, yet exporting can offer significant opportunities for growth, diversification and increased profitability. Advances in technology, online marketplaces and international logistics have made it easier than ever for businesses of all sizes to reach customers overseas. For some businesses, expanding into international markets could […]
For many taxpayers, the second Self-Assessment payment on account for the 2025-26 tax year falls due on 31 July 2026. While the January payment often receives most attention, the July instalment can arrive surprisingly quickly, particularly for business owners, landlords and self-employed individuals who have experienced fluctuating income or increased costs during the year. Planning […]
Working capital is the difference between a business’s current assets, such as cash, stock and money owed by customers, and its current liabilities, such as supplier invoices, taxes and other short-term debts. In simple terms, it measures a business’s ability to meet its day-to-day financial obligations and continue operating smoothly.Why working capital mattersMany profitable businesses […]
While the government recently hit the pause button on those big Companies House changes until 2028, another massive digital shake-up is already here. As of April 2026, Making Tax Digital for Income Tax (MTD ITSA) is officially live for thousands of self-employed people and landlords across the UK. If your gross business or property income […]