HMRC has recently commenced a review involving persons with significant control over companies, prompting these individuals to reassess their income and gains for the tax year 2023/24. This initiative is intended to ensure co ...

As the government announces automatic winter fuel payments for pensioners, fraudulent schemes emerge to target the vulnerable. Understanding the payment process and remaining vigilant against winter fuel payment scams is esse ...

The government has decided to implement a recovery system for winter fuel payments through HMRC for pensioners with incomes exceeding £35,000. I'm going to talk about its implications for individuals and some of the administr ...

The Chancellor's spending review has unveiled significant public funding increases, yet the budget plan raises alarms about a potential tax raid in the autumn. Some high-net-worth individuals are now preparing to leave Britai ...

What are the consequences of not adhering to the UK's National Minimum Wage laws? Not surprisingly, employers face significant penalties and damage to their reputations, while employees experience financial hardship ... ...

The way you report your income tax is changing. Making Tax Digital for Income Tax (MTD ITSA) is being phased in over the next few years, and if you're a sole trader or landlord, it's important to start preparing now ... ...

Business Email Compromise (BEC) is a growing threat affecting businesses everywhere. I thought I should highlight the importance of recognising the tactics used by fraudsters and provide some practical steps to prevent fallin ...

The recent trade deals signed by the UK with the US, India, and the EU prompt an essential inquiry: are trade deals growth drivers? While the government portrays these agreements as monumental victories, I think the reality i ...

Parents of teenagers are reminded to extend their Child Benefit claim to avoid interruptions in payments. With a deadline for confirming their child's education status approaching, it's crucial to act now to secure vital fina ...

Essendon Accounts & Tax are proud to be sponsors for the Towcester Midsummer Music Festival. Established in 2003, the 23rd Towcester Midsummer Music Festival event will take place in the heart of Towcester over the weekend of ...

From Jaffa Cakes to Pringles, the ongoing tax battles on snacks in the UK highlight the confusion over VAT regulations. With various rulings leading to strange classifications, I'll explore how these legal disputes impact foo ...

HMRC is streamlining its services to offer faster, more interactive support through modern channels. So, if your go-to move was to post a forum question and wait for a reply, you’re in for a treat, because help is about to ge ...

The UK-US trade deal benefits multiple sectors, most notably steel, cars, and agriculture. Tariff reductions aim to enhance trade relations and foster economic growth, providing critical support to struggling industries ... ...

HMRC has announced a transformative plan to integrate voice recognition technology into its customer service framework. This approach seeks to streamline security checks and improve the overall customer service experience for ...

Credibility is the cornerstone of any successful business operation and helps to improve growth. One pivotal document that aids in establishing credibility is the Certificate of Good Standing from Companies House ... ...

The thought of an HMRC tax investigation can stir up feelings of anxiety and uncertainty within any business owner. However, understanding how to prepare for an HMRC tax investigation can significantly reduce these fears ... ...

If you’re a sole director running a limited company, you’ve probably heard that you can’t claim Employment Allowance (EA), and in most cases, that’s true. HMRC’s rules say that companies where the only person on the payroll i ...

Uncertainty is an ever-present challenge for business owners that can dictate the course of strategic decision-making. As tariffs rise and supply chains are disrupted, many now find themselves in a precarious situation ... ...

As we mark the 10th anniversary of Making Tax Digital (MTD), it is an opportune moment to reflect on its progression, the transformative changes it promises for the tax landscape, and the obstacles that lie ahead ... ...

Inflation acts as a barometer for measuring the rising cost of living and the Office for National Statistics (ONS) recently made some interesting changes to the basket of goods they use for calculating inflation ... ...

The government has revealed significant changes to the tax system. One of the most noteworthy announcements is the increase in the income tax self-assessment (ITSA) reporting threshold from £1,000 to £3,000 ... ...

The Economic Crime and Corporate Transparency Act (ECCTA) introduces transformative changes to corporate law in the UK, targeting the prevention of economic crime through increased transparency and accountability ... ...

Businesses are encouraged to understand the significant changes in HMRC's approach to late tax payments. The interest rate charged by HMRC for late tax payments, specifically for most taxes and duties have risen from 7% to 8. ...

The UK's economic landscape is intricately woven with threads of global trade, innovation, and growth. Recently, however, a new threat has emerged: the blanket tariffs announced by President Trump ... ...

As we step into a new financial year, tax changes are rolling in - some subtle, some significant, but all requiring attention. Whether you’re an employer, landlord, sole trader, or investor, these updates will impact your tax ...

The Chancellor’s Spring Statement this year wasn’t the grand reveal of sweeping reforms or dramatic U-turns. It was something far more familiar to anyone in finance: a calculated manoeuvre along a fiscal knife edge ... ...

Chancellor Rachel Reeves has set out her plans for our country's economic future during the Spring Statement 2025. With stagnant growth, a massive public sector bill and a belligerent Russia, what did she announce, and did sh ...

Buyers of residential properties in the UK have been advised to brace themselves for significant increases in Stamp Duty Land Tax (SDLT) liabilities. This change is set to take effect from the 1st of April 2025 ... ...

The Autumn Budget 2024 was a significant moment for drivers of double-cab pickups (DCPUs). With HMRC recently releasing new guidance, a transformation in how these vehicles are classified for tax purposes is on the horizon .. ...

As a taxpayer, changes in regulations can often seem daunting, especially with new tax return requirements for sole traders and directors of close companies coming into effect for the 2025/26 tax year ... ...

When you look at the state of global trade, it’s impossible to ignore the influence of Trump's policies. His administration's assertion to put 'America first' has led to a series of tariff impositions that are shaking up econ ...

With HMRC set to introduce mandatory reporting of Payrolling Benefits in Kind (PBIK) by April 2026, employers are urged to prepare in advance to ensure a smooth transition. Understanding the intricacies involved in this shift ...