HMRC has announced that it will close the online service for filing company accounts and corporation tax returns on 31 March 2026 Companies with an accounting period ending after 31 March 2025 will no longer be able to use HMRC’s free online service (unless they…

HMRC has updated its guidance to clarify the treatment of subcontracted research and development (R&D) expenditure under the SME scheme When R&D work undertaken by a subcontractor is subsidised, tax relief is not available to the subcontractor under the SME R&D scheme. Following two recent…

Changes to the company size thresholds from April 2025 will also apply for the purposes of the off payroll working (OPW) rules The primary aim of the changes to the company size thresholds was to simplify regulatory requirements and alleviate the administrative burden for smaller…

From August 2025 employed taxpayers will no longer be required to complete a self-assessment tax return (SATR) to declare and pay the high-income child benefit charge (HICBC). The HICBC is a tax charge paid by the higher earning parent which claws back up to 100%…

From April 2026 most benefits in kind (BIKs) will have to be processed through the payroll and included on monthly payslips, with a potential knock-on effect for student loan repayments. The mandatory payrolling of BIKs will be implemented in phases, starting from April 2026. The…

With changes to employer’s National Insurance and the Employment Allowance, now is the time for businesses to review the most tax-efficient mix of salary and dividends for directors From 6 April 2025 the secondary Class 1 National Insurance threshold reduces from £9,100 to £5,000. At…

In just over a year the first tranche of sole traders and landlords will be required by law to keep digital records to comply with the requirements of Making Tax Digital for Income Tax (MTD IT) From April 2026, taxpayers with qualifying trading and property…

The hourly rate will depend on the worker’s age and whether they are an apprentice. Age of workers Hourly rate from 1 April 2025 Hourly rate from 1 April 2024 21 and over (NLW) £12.21 £11.44 18 to 20 (NMW) £10.00 £8.60 Under 18 £7.55…

The sunset clause which was set to end the Enterprise Investment Scheme (EIS) and Venture Capital Trust (VCT) scheme on 5 April 2025 has been extended for a further ten years. The schemes, which offer tax relief for individuals investing in qualifying small and medium-sized…