Monthly Archives: July 2025

Side income over £1,000 may mean filing a tax return. HMRC is urging part-time earners to check their tax position for 2024-25, especially if they earn from casual work, renting, or crypto. If you are earning extra income it is important to be aware of the tax implications. The good news is there are two £1,000 […]

Registering for payroll is essential when hiring staff. From HMRC registration to legal compliance, getting payroll processes right ensures your team is paid correctly and your business avoids penalties. When starting a business and hiring employees for the first time, one of the most important administrative steps is setting up a payroll scheme. This process ensures […]

HMRC missed out on £46.8bn in tax last year. Small businesses and Corporation Tax make up the biggest share of the shortfall. The tax gap for the 2023-24 tax year has been published and is estimated to be 5.3% of total theoretical tax liabilities. The tax gap is basically the difference between the amount of […]

The government has announced the reinstatement of Winter Fuel Payments for pensioners in England and Wales for winter 2025-26, reversing the previous year’s cuts. Around nine million pensioners are expected to benefit from this decision, with payments of £200 per household or £300 for households where someone is aged 80 or over. Eligibility will be […]

For high net worth individuals (HNWIs), tax planning is not simply a compliance activity, it is a strategic tool to preserve and grow wealth. With rising scrutiny from HMRC, frozen allowances, and increasingly complex legislation, the value of well-structured planning has never been higher. HNWIs typically have multiple sources of income: from employment, dividends, property, […]

1 July 2025 – Due date for corporation tax due for the year ended 30 September 2024. 6 July 2025 – Complete and submit forms P11D return of benefits and expenses and P11D(b) return of Class 1A NICs. 19 July 2025 – Pay Class 1A NICs (by the 22 July 2025 if paid electronically). 19 […]

Tensions in the Middle East have always carried global implications, but few pressure points are more critical than the Strait of Hormuz. This narrow passage off the coast of Iran is the transit route for around one-fifth of the world’s oil and a quarter of its liquefied natural gas (LNG). A closure, even temporary, would […]

For many business owners, the daily focus is on growth, sales, staff, and operations. Planning an exit often sits far down the priority list, something to deal with “one day.” However, failing to plan for how and when you will eventually leave your business can result in missed opportunities, lost value, and unnecessary stress. Whether […]