Running a limited company brings with it a considerable amount of administration. The government is now considering whether some of the UK’s corporate reporting requirements can be simplified. A consultation launched in September 2026 looks at modernising corporate reporting, reducing duplication and making reporting requirements more proportionate. For smaller businesses in particular, the proposals could […]
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Landlords in England need to be aware of updated Right to Rent guidance taking effect from 1 October 2026. The Right to Rent scheme requires landlords and letting agents to check that prospective adult tenants have the legal right to occupy privately rented residential property in England. Getting the procedure right is important because landlords […]
The new Chancellor of the Exchequer, John Healey has confirmed, in a video message, that the next UK Budget will take place on Wednesday, 28 October 2026. Details of all the Budget announcements will be made on a special section of the GOV.UK website which will be updated following completion of the Chancellor’s first Budget […]
Making Tax Digital for Income Tax became compulsory for the first group of sole traders and landlords from 6 April 2026. HMRC is now taking the next step. From September 2026, HMRC is starting to sign up people who it believes should already be using Making Tax Digital, but who have not registered themselves. If […]
1 September 2026 – Due date for corporation tax due for the year ended 30 November 2025. 19 September 2026 – PAYE and NIC deductions due for month ended 5 September 2026. (If you pay your tax electronically the due date is 22 September 2026) 19 September 2026 – Filing deadline for the […]
Stamp Duty Land Tax (SDLT) is a tax that may apply when you buy land or property in England or Northern Ireland. It is important to check whether SDLT applies before completing a purchase, as the tax can represent a significant additional cost. SDLT can apply when you buy a freehold property, a new or […]
When a sole trader or the partners in a partnership transfer a business to a limited company, Capital Gains Tax (CGT) may arise. This is because business assets are normally treated as being transferred at their market value, which may be considerably more than their original cost. However, Incorporation Relief can allow some or all […]
Businesses that register for VAT may be able to reclaim VAT paid on certain goods and services purchased before VAT registration. There are specific time limits for claiming pre-registration VAT. VAT on goods can generally be reclaimed where the goods are still held by the business or have been used to produce other goods that […]
A penalty may now be on its way… Some companies that filed their Corporation Tax return late may shortly receive an unwelcome letter from HMRC, even though the filing deadline passed some time ago. HMRC temporarily stopped issuing automatic Corporation Tax late-filing penalty notices while it updated its computer systems. Those changes have now been […]
Running a limited company gives business owners several ways of taking money from their business. Salary and dividends are the most familiar, but they are not the only possibilities. The tax consequences can also be quite different, which means simply transferring money from the company bank account when you need it is rarely the best […]