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Income from spare capacity
Many businesses have spare capacity that could generate additional income with relatively little additional cost. Spare capacity may arise where premises, staff time, equipment or intellectual
VAT recovery on car leasing
The VAT treatment of car leasing is an important consideration for businesses that incurs VAT on these costs. In general, leasing companies are able to recover the VAT incurred on the purchase of
MTD for Income Tax – are you affected?
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
Could you claim the Marriage Allowance
The Marriage Allowance applies to married couples and civil partners where one partner does not pay Income Tax, usually because their income is below the personal allowance. For the 2025–26 tax year,
Rolling over capital gains
Rolling over capital gains can be an effective way for business owners to defer Capital Gains Tax (CGT) when selling or disposing of certain business assets. This is done using Business Asset Rollover
The 7-year gift rule is still available
The 7-year gift rule is still an available option for those making lifetime gifts, offering a way to potentially reduce Inheritance Tax (IHT) liability. Most gifts made during a person’s lifetime are
Employing young people in your business
When a new employee joins your payroll, it is the employer’s responsibility to ensure they are aware of their rights and that the correct tax is deducted from their salary. This responsibility also
Ways businesses can reduce fuel bills
Tensions in the Middle East have increased concerns about potential disruption to global oil supplies. Even where physical shortages do not arise, uncertainty can still push up fuel prices and
Cash flow challenges facing small businesses
Cash flow remains one of the most significant challenges facing small businesses in the UK. Even profitable businesses can encounter difficulties if income is received later than expected or costs
Tax on inherited property, money or shares
As a general rule, someone who inherits property, money or shares is not liable to pay tax on the inheritance itself. This is because any Inheritance Tax (IHT) due is normally paid out of the
