Knowledge Hub

All of the latest tax and finance information

Are you using the best scheme for your VAT?

Value Added Tax (VAT) is something sole traders and companies must charge once their turnover exceeds £90,000 in a rolling 12-month period, or if they will exceed this amount within a three-month period. At this point, you are obliged to register for VAT with HMRC....

5 Common Tax Mistakes Family Businesses Make (and How to Avoid Them)

Meta Description: Learn the top 5 tax mistakes UK family businesses make, from VAT to expenses. Protect your wealth with these simple tips. Family-run businesses often face unique challenges—mixing family dynamics with financial decisions can sometimes lead to costly...

Self-Assessment Deadlines Explained: A Family Business Guide

Meta Description: Self Assessment deadlines for 2025/26 explained. Learn key dates, HMRC penalties, and how your family business can avoid costly mistakes. Running a family business means juggling a lot of responsibilities—tax deadlines shouldn’t be one of the things...

Making Tax Digital: What Family Businesses Need to Do Now

Meta Description: MTD for Income Tax starts in April 2026. Learn the income thresholds, key dates, and how your family business can prepare today. Running a family business is already demanding. From managing staff to balancing books, tax admin can feel overwhelming....

Children born in Q4 2007 can access their Child Trust Funds from September

Children born on September 1, 2007, will be able to access their Child Trust Funds (CTFs) for the first time in September, when they reach 18 years old. The first CTFs were opened for children born on or after September 1, 2002, so those reaching 18 this September are...

Inheritance Tax and Family Businesses: What You Need to Know

Inheritance tax (IHT) is often called the UK’s most unpopular tax, and it’s back in the spotlight ahead of the Autumn Budget. Proposals being discussed include introducing a lifetime cap on the value of assets that can be passed on and revisiting the rules for gifts....