Welcome to our April newswire

VAT is complex, and too many businesses are making costly, avoidable mistakes. Even a simple oversight or misunderstanding can lead to penalties, cash flow problems, and disputes with HM Revenue & Customs (HMRC).Here are some of the most common VAT mistakes to avoid […]

The Government has confirmed that Making Tax Digital (MTD) for Income Tax will apply to sole traders and landlords earning over £20,000 a year. This latest extension means that an additional 900,000 sole traders must adopt digital record-keeping and quarterly tax submissions by this deadline. […]

The Chancellor’s Spring Statement introduced harsher penalties for late taxpayers under Making Tax Digital for Income Tax Self Assessment (MTD for ITSA). With the Government confirming an extension to sole traders and landlords earning more than £20,000 from April 2028, a lot more taxpayers – an estimated 900,000 – will need to pay tax via MTD for ITSA.

Submitting your Self-Assessment tax return at the start of this tax year is a great way to manage your tax bill effectively. The earlier you file a return, the sooner you will find out how much tax you owe. This can help with financial planning and budgeting for the year ahead. Early submission also means that any refunds you are owed can be paid to you sooner […]

The new financial year will see many of the proposed changes announced in the Autumn Budget enacted, impacting businesses across the country. These changes will have business owners planning their tax strategy for the 2025/26 tax year, and a key part of this should be considering capital allowances.

From 6 April 2025, many directors will need to report dividend income in much more detail in their Self-Assessment tax return. This change will affect an estimated 900,000 directors across the UK. HM Revenue & Customs (HMRC) will now require directors to disclose the name and registration number of the company […]