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Records you must keep if self-employed

If you are self-employed as a sole trader or a partner in a business partnership...

Tax liability if you sell a business asset

When selling assets on which capital allowances were claimed, you may need to adjust your...

Requesting evidence of earnings

If you're self-employed, lenders may require an SA302 and tax year overview as proof of...

Why Adequate Business Insurance is Essential for Small Businesses

For small business owners, especially those operating as sole traders or in partnerships without limited...

Business Advice: An Investment, Not a Cost

Flexible planning is essential for adapting to uncertainty, responding to challenges, and seizing new opportunities...

Group relief for trading losses

Group relief helps reduce the overall Corporation Tax of a group of companies by allowing...

Self-Employed National Insurance Contributions

Self-employed individuals earning £12,570 or more annually must pay Class 4 National Insurance Contributions (NICs)...

Tax and Maintenance Payments

Maintenance Payments Relief reduces Income Tax for those making court-ordered payments to an ex-spouse or...

How VAT Payments on Account Work

Businesses owing over £2.3 million in VAT annually must make advance payments on account. These...

Child Benefits for over 16s

From April 2025, Child Benefit increases to £26.05 for the eldest child and £17.25 for...

Government backed Start-Up Loans

The Government-backed Start-Up Loans scheme offers unsecured loans of £500 to £25,000 per person (up...

Beware of rushing to judgement before terminating employment.

A Tribunal has ruled that a deputy security manager was unfairly dismissed, despite performing “no...

Changes to online filing of accounts at Companies House

The Online Accounts and Company Tax Return (CATO) service is scheduled to close on 31...

Why flexible planning is advisable

Flexible planning is essential for adapting to uncertainty, responding to challenges, and seizing new opportunities...

Tax Diary April/May 2025

1 April 2025 - Due date for corporation tax due for the year ended 30...