Change to dividend reporting to affect thousands of owner-managed businesses
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…
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Why capital allowances should be top of your to-do list this April
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…
Should you submit your tax return at the start of this tax year?
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…
Labour introduces harsher penalties for late taxpayers
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…
900,000 sole traders pulled into MTD for ITSA
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…
Too many businesses falling into VAT traps
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,…