Making Tax Digital for Income Tax (MTD IT) will be effective from 6 April 2026 and phased thereafter based on income levels. Its introduction marks one of the most significant shifts in how individuals report tax. That said, the earlier you get to grips with the...
If your company has issued shares or options to employees or directors, now is the time to check whether you need to report Employment Related Securities (ERS) to HMRC. What is ERS? ERS refers to shares or securities acquired by employees or directors as part of their...
The UK government has announced a delay in the introduction of mandatory payrolling of benefits in kind (PBIK) from 6 April 2026 to 6 April 2027. This decision follows comprehensive feedback from stakeholders, including the ICAEW. The delay provides employers with...
The Furnished Holiday Lettings (FHLs) regime was abolished on 6 April 2025, but what does the abolition mean for your holiday letting property? It means that the property is now considered part of either your main UK or overseas property business. It also means that...
One of the most common questions we get asked is: “What exactly counts as a business expense?” It’s a great question, as well as an important one, because claiming legitimate expenses helps reduce your taxable profits and, ultimately, your tax bill. So, what...
As of 2024, new reporting requirements mean that digital platforms such as Amazon, eBay, Vinted and Etsy must now share information with HMRC about sellers using their platforms. Fast forward to the Spring Statement, and the Chancellor has laid out a clear commitment...
