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HMRC sending letters to self-assessment payers about CGT
Self-assessment taxpayers who have submitted their 2024/25 tax return are now being sent letters by HMRC as they may not have applied the correct rate of Capital Gains Tax (CGT) on disposals after October 30, 2024. The main rates of CGT on the disposal of assets,...
Companies may have claimed the wrong amount of marginal relief
HMRC is contacting companies that it believes may have failed to include the correct number of associated companies in their Corporation Tax return and consequently claimed marginal relief in error. The main rate of Corporation Tax rose to 25% on April 1, 2023, with a...
Planning Ahead: How to Get Your Family Business Tax-Ready for 2026
2026 brings major tax changes—MTD and stricter penalties. Learn how your family business can prepare now. 2026 is shaping up to be a big year for tax changes, and family businesses need to act now to avoid stress and financial risk. What’s Changing? - Making Tax...
Protecting Your Family Business Legacy: Smart Tax Planning Tips
Family business legacy planning: use BPR, trusts, and smart tax strategies to protect wealth for the next generation. Your family business is more than numbers—it’s your legacy. Protecting it for future generations requires smart tax planning. Why Legacy Planning...
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...
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