HMRC’s rules state that expenditure on business entertainment or gifts cannot be claimed as a deduction against profits (and therefore also non-VAT deductible), even if
The annual tax on enveloped dwellings (ATED) is a tax that is payable mostly by non-natural persons (mostly companies) owning UK residential property valued at
The way that many landlords will report details of their income and expenses to HMRC is changing from April 2026 onwards. This is when Making
If as an employer you provided employees with taxable expenses and benefits in the 2024/25 tax year, you will need to ensure that you meet
Employees with a company car available for their private use pay tax on the benefit. The amount that is charged to tax is a percentage
The official rate of interest is a rate set by HMRC which is used to calculate the benefit in kind tax charge on cheap employment-related
Putting money into a registered pension scheme can be tax efficient. Individuals can make contributions in their own right, or even for someone else, and
Last October Chancellor Rachel Reeves announced somefar-reaching National Insurance changes which will affect employers from April 2025. She also confirmed the rates applying to employees
If you’re currently operating as a sole trader in the UK, you might be considering whether changing to a limited company is the right move.
Many UK savers may not realise that interest earned on savings accounts could be taxable. With HMRC increasing its focus on unreported savings interest, it’s
When it comes to managing your finances, finding the best accountant can make all the difference. Whether you’re a small business owner, a freelancer, or
Your National Insurance (NI) number is a unique identifier used by HMRC to track your tax and contributions. If you’ve misplaced it, don’t worry—you can
Family Allowance, officially known as Child Benefit, is a payment from the UK government to help parents or guardians with the cost of raising children.
Most individuals are entitled to receive a personal allowance. This is the amount that they are able to earn before they pay tax. For 2024/25,
For unincorporated businesses, from 6 April 2024 onwards the cash basis is the default basis of accounts preparation. Unlike the accruals basis under which income
Employees who incur expenses in undertaking their job may be able to claim tax relief for those expenses where they are not reimbursed by their
Individuals have a separate tax-free allowance for capital gains tax purposes – the capital gains tax annual exempt amount. Although it has been reduced considerably
If you are the owner of a personal or family company, it is prudent to review your dividend strategy before the 2024/25 tax year comes
If you’re doing business with another company or simply curious, knowing whether they are VAT registered can be essential. In the UK, companies with an
Starting and running a limited company in the UK involves several financial responsibilities, including filing annual accounts, managing payroll, and staying compliant with HMRC. If
Copyright © 2025 Pro-Taxman. All rights Reserved.
