Strengthening HMRC’s Reminder on P11D Loan Reporting
HMRC has issued a reminder to UK employers regarding the reporting of loans to directors and employees exceeding £10,000 on Form P11D for the 2024/25 tax year. This move underscores HMRC’s focus on tax transparency and compliance. Understanding the Requirement Employers are obligated to report interest-free or low-interest loans provided to employees or directors as […]
Raft of tax administration measures announced
How will these affect businesses and employers? James Murray, the Exchequer Secretary to the Treasury, made a Written Ministerial Statement last week that included a total of 39 tax simplification, administration and reform measures. Many measures are intended to reduce burdens on employers and small businesses, whereas others are designed to modernise H M Revenue […]
The Importance of Robust Cyber Security for UK SMEs
Cybersecurity is no longer just a concern for large corporations. Small and medium-sized enterprises (SMEs) in the UK are becoming increasingly targeted by cybercriminals, and the consequences of a successful attack can be devastating, ranging from financial losses and reputational damage to legal repercussions and business closure. Implementing robust cyber security measures is therefore a […]
Do You Employ Workers in the Gig Economy?
Right to work checks now required There are new legal requirements to carry out checks confirming that anyone working in their name is eligible to work in the UK. Previously, these requirements did not apply to ‘gig economy’ and zero-hour workers. The gig economy refers to short-term, flexible or freelance jobs where workers are […]
MTD for Income Tax: Less Than a Year to Go
If you’re a sole trader or landlord with annual income over £50,000, a major change is coming your way. From 6 April 2026, you may be required to keep digital business records and submit quarterly updates to HM Revenue and Customs (HMRC) under Making Tax Digital (MTD) for Income Tax. This is one of the […]
Simplification of the VAT Capital Goods Scheme
The UK government has introduced simplification measures to the VAT Capital Goods Scheme (CGS), aiming to reduce administrative burdens for businesses. Key Changes Removal of Computers: Computers will no longer be included in the CGS, simplifying VAT adjustments for these assets. Increased Threshold: The capital expenditure threshold for land, buildings, and civil engineering works will […]
New neonatal care law now in force
Are you ready to respond to requests? The Neonatal Care (Leave and Pay) Act 2023 came into force on 6 April 2025. This law provides a new leave and pay entitlement for parents with a baby in neonatal care. Depending on how long their baby is in neonatal care, parents will now have the right […]
New Companies House ID Checks
What they mean for you From 8 April 2025, Companies House has launched a new identity verification system as part of changes under the Economic Crime and Corporate Transparency Act 2023. If you’re a director, person with significant control (PSC), or someone who files on behalf of a company, this applies to you. […]
Streamlining Operations: Embracing Digital Transformation
In today’s fast-paced business environment, digital transformation is no longer a luxury but a necessity for UK businesses of all sizes. Embracing technology can streamline operations, enhance efficiency, improve customer engagement, and ultimately drive growth. Recent advancements in cloud computing, artificial intelligence (AI), and automation offer unprecedented opportunities for businesses to optimise their processes and […]
Navigating the Evolving Landscape of Employment Costs
The costs associated with employing individuals are a significant factor for all UK businesses, and recent developments continue to shape this landscape. From changes in National Insurance thresholds to ongoing discussions around the National Minimum Wage and the complexities of employee benefits, staying informed is crucial for effective financial planning and compliance. Understanding these nuances […]