Public borrowing hit £20.5 billion in April, the highest level for that month since 1993 and nearly £3 billion above forecast. Economists warn the Chancellor… Read More »Increased borrowing could mean increased taxes, experts warn
The International Monetary Fund (IMF) has upgraded the UK’s 2025 GDP growth forecast to 1.2 per cent, citing a strong first-quarter performance and signs of… Read More »How to prepare for an unexpected economic recovery
On 8 April 2025, Companies House introduced identity verification for those who make filings on behalf of a business. It is currently a voluntary process,… Read More »Identity crisis – Companies House begins to verify identities
How much State Pension you get depends on your National Insurance (NI) record when you reach the State Pension age. Gaps in your NI record… Read More »Too many sole traders are still missing out on their State Pension
It is not uncommon for directors of a company to take loans from the business during each financial year, often to cover unexpected bills. However,… Read More »Three easy ways to manage your directors’ loan accounts
Recent changes to Class 2 National Insurance contributions (NICs) were meant to simplify things for self-employed taxpayers.
Read More »Class 2 NICs – The hidden issue affecting self-employed taxpayers
Businesses in the UK are facing increasing financial strain, with new data from HM Revenue & Customs (HMRC) showing that tax arrears have hit £28 billion per month on average across the first quarter of 2025.
Read More »Are rising tax arrears putting your business at risk?
Many businesses routinely offer financial support to their directors or employees in the form of loans.
Read More »Do you need to report that loan? The £10,000 rule and P11D implications
There are always going to be bad actors looking to scam reputable businesses out of money and data.
Read More »HMRC or a scam – can you trust the letters you receive?
With less than a year to go before Making Tax Digital for Income Tax (MTD for IT) becomes mandatory for sole traders and landlords earning over £50,000, it is important to start preparing.
Read More »The countdown to Making Tax Digital for Income Tax – Who is affected first?
