I took a call from a worried man yesterday. A very worried man. He is busy selling a house and his solicitor rightly spotted that he might have an issue with capital gains tax because it has been rented in the past. If you sell a house that hasn’t always been your home there is […]
Many people start an activity as a hobby, perhaps selling handmade goods online, offering occasional services, or generating small amounts of additional income from spare capacity. Over time, what begins as a leisure pursuit can evolve into something that looks increasingly commercial. This raises an important question, when does a hobby become a business for […]
Recent global instability, particularly tensions affecting oil and energy supply chains, has increased concerns about price gouging, where businesses take advantage of shortages or uncertainty to impose unjustified price increases. In response, the UK government has announced new measures intended to protect consumers and ensure markets continue to operate fairly. Price gouging generally occurs when […]
1 April 2026 – Due date for corporation tax due for the year ended 30 June 2025. 19 April 2026 – PAYE and NIC deductions due for month ended 5 April 2026 (If you pay your tax electronically the due date is 22 April 2026). 19 April 2026 – Filing deadline for the CIS300 monthly […]
If you have not yet checked whether you need to use Making Tax Digital (MTD) for Income Tax, now is the time to urgently see if you are affected. The Income Tax reporting requirements for some self-employed individuals and landlords will change significantly from 6 April 2026. MTD for Income Tax changes the traditional annual […]
A Companies House blunder has raised concerns after a flaw in the WebFiling service briefly exposed sensitive company data. The issue, identified on 13 March 2026, meant that a logged-in user could potentially access and amend limited details of another company by carrying out a specific sequence of actions. Companies House has stated that this […]
It was confirmed as part of the Autumn Budget that the Income Tax thresholds will continue at their current levels for a further three years, extending the freeze until April 2031. This means that most tax allowances are to remain frozen for 2026-27 and beyond. As a result, the personal allowance will stay at £12,570, […]
Mandatory payrolling of benefits in kind (BiKs) and taxable employment expenses will be introduced from 6 April 2027. This represents a major change in reporting and means that for most benefits, the annual P11D form will no longer be required from the start of the 2027-28 tax year. The requirement to report Income Tax and Class 1A […]
External risks can affect even well managed businesses. Many threats arise outside the control of business owners, yet they can have a significant impact on profitability, cash flow and long term stability. Economic change, regulatory developments, market disruption and supply chain pressures can all create uncertainty. Forward planning allows businesses to prepare for these risks […]
A year ago today I announced to the world I was setting up my own tax advisory firm. Well now TH Ward has been helping people with their taxes for a year! My team photo has two people in it at the moment. Thomas Wardle joined me and is busy working on his accountancy apprenticeship […]