Knowledge Hub

All of the latest tax and finance information

HMRC publishes new rates for employees’ electric cars

Employees with electric vehicles as company cars have seen a change in the rates they can claim for mileage allowance since September 1, but HMRC has updated the guidance on October 6 about how these new rates need to be apportioned for each journey. The previous...

The 12-Month Impact Test – A Simple Priority-Setting Tool for Independent Businesses

Both family-run and owner-managed businesses juggle endless tasks — but not all tasks move the business forward. With limited time and resources, choosing the right priorities becomes essential. That’s where the 12-Month Impact Test comes in. Why Priorities Go Wrong...

Why Family-Run & Owner-Managed Businesses Must Escape the Firefighting Trap

Running a family-run or owner-managed business often means being pulled in multiple directions at once. One moment you’re dealing with staff, and the next you’re managing customers, suppliers, cashflow, or deadlines. With so much happening, many businesses fall into a...

Beware of trading when your company is insolvent

Continuing to trade while your company is technically insolvent could lead to big problems for the directors, as it could lead to limited liability no longer applying, and leave them on the hook personally for outstanding debts. A company would be considered insolvent...

Voluntary repayment window for Covid grants opens

Individuals and businesses that received Covid payments they weren’t entitled to have until December to pay back any money owed under a voluntary repayment scheme. This period offers the grace of a ‘no questions asked’ solution for people to repay any grants they...

HMRC powers to raid bank accounts for unpaid tax revived

HMRC has once again been given powers to take money owing to it directly from people’s bank accounts when people persistently fail to pay the tax due. Most taxpayers, those who pay on time and in full, will have nothing to worry about. But the small minority that...