Many UK small businesses rely on imported goods, materials, and components. Trade disruptions-whether due to geopolitical tensions, shipping crises, pandemics, or regulatory changes-can lead to: Delays and shortages, making it harder to meet customer demand. Increased costs, as businesses may need to source alternative, often more expensive, suppliers. Stockpiling and cash flow pressure, where businesses […]
What to Expect As we move further into 2025, the direction of UK interest rates remains a key focus for businesses, homeowners, and investors alike. The Bank of England (BoE) has already adjusted rates, and speculation is rife about what comes next. Current State of Interest Rates The BoE recently reduced the base interest rate […]
The Charity Commission has recently issued a warning about fraudulent letters being sent to charities and their trustees, impersonating the Commission to deceive recipients. These deceptive communications often request actions such as: Removing a trustee or chief executive from their position. Releasing funds as part of a supposed grant. Supplying sensitive documents like passports or […]
I’m staggered by the number of people that have jumped on to the FHL market in recent years. A perfect storm of tax plus socials issues meant they became a target for many landlords. Tax wise they enjoyed full deduction of mortgage interest. Socially, Covid meant that more people holidayed in the UK and […]
I’ve covered the allocation of income before here and also the importance of getting the right help with your taxes. I might not have mentioned I’ve been giving tax advice for over 30 years. I have an as you would imagine I’ve seen a lot. I mean, A LOT! I have never seen anything […]
HMRC have released some stats which show taxpayers have a lot of work to do if they are going to be ready for quarterly updates. 97% of unrepresented taxpayers used the HMRC online tool. This is the very same tool that is being shut down in April 2026. By April 2027 1.6million taxpayers will […]
HMRC regularly publishes lists of serious tax defaulters. The list makes for some interesting reading on a couple of fronts. First of all the recent version includes some cases that go back as much as ten years. This should shatter the illusion that if you’ve been up to something long enough ago you have […]
HMRC made some announcements recently. You may ave seen some of them get trailed in the press. Did you see the one about them paying informants? Yes, Exchequer Secretary James Murray will be announcing a new reward scheme for informants to be launched later this year. This will look to target serious non-compliance in large corporates, […]
Quarterly updates of your income and expenses are what will be required under Making Tax Digital. The rules as drafted at the moment show a clear intention that HMRC want a two way connection to your records. What does that mean? Well, in theory, HMRC want to be able to query the connection you will […]
I got a nudge from a reader in the week about year end planning. Spot on timing wise as we all have a couple of weeks to get things in place. Landlords are just like anyone else. There are things that apply to all taxpayers and some that apply specifically to landlords. Let have […]