1 February 2025 – Due date for Corporation Tax payable for the year ended 30 April 2024. 19 February 2025 – PAYE and NIC deductions due for month ended 5 February 2025. (If you pay your tax electronically the due date is 22 February 2025) 19 February 2025 – Filing deadline for the CIS300 monthly […]
Author Archives: Hardings
Big changes are here for the self-employed! From 2024-25, profits must align with the tax year, replacing the old “current year basis.” Overlap relief is ending, and transition profits will be spread over five years. Here’s how the new system affects your tax bill. The reform to the self-employed tax basis period has introduced significant […]
Businesses can reclaim VAT on pre-registration expenses if they relate to taxable supplies made after VAT registration. The rules differ for goods and services, with time limits of 4 years for goods and 6 months for services. Proper understanding ensures you don’t miss out. VAT can only be reclaimed if the pre-registration costs relate to […]
Business Asset Rollover Relief allows you to defer Capital Gains Tax (CGT) when reinvesting proceeds from selling business assets. By rolling gains into the cost of new assets, tax is postponed until the new asset is sold. Learn how this relief can optimise your business investments. Rolling over capital gains is a useful way to […]
Selling online? Whether it’s a hobby or a business, you may need to pay tax if your earnings exceed £1,000. From services to content creation, it’s vital to understand self-assessment rules and new reporting obligations for online platforms starting in 2024. If you are selling anything through an online marketplace, it is important to know […]
Are you a landlord? Maximise your rental income by knowing which expenses you can claim to reduce your tax bill. From maintenance costs to Replacement of Domestic Item Relief, understanding allowable deductions is key to smart property management. If you are a landlord, it is important to be aware of the expenses that can and cannot […]
The UK government is shaking things up with some significant pension reforms aimed at boosting economic growth and enhancing pension pots for working folks. Let’s dive into what’s happening. Unlocking Pension Surpluses Traditionally, occupational defined benefit (DB) pension schemes have been somewhat restricted in how they can use surplus funds. These surpluses often sit idle, […]
Building Brand AwarenessSocial media platforms provide an unparalleled opportunity to reach a broad audience and increase brand visibility. With billions of users across platforms like Facebook, Instagram, LinkedIn, and TikTok, businesses can showcase their products or services to potential customers who may not have encountered them otherwise. Consistently sharing engaging and relevant content helps to […]
Many businesses have a 31 March year end date, which means they are now in the last quarter of their current financial year and have an opportunity to review their business finances. The last quarter of the year is a crucial time for businesses to review, evaluate, and prepare for both year-end and the year […]