Uncategorized
Holiday Carry-Over After Maternity Leave: What Employers Need to Know
Holiday Carry-Over After Maternity Leave: What Employers Need to Know When an employee returns from maternity leave with untaken holiday, employers need to manage both the legal position and business cover. The key point is that holiday continues to accrue during maternity leave and, where the employee could not take it because they were on…
Read MoreHMRC Is Sending Thousands of Crypto Tax Letters — Here’s What UK Crypto Holders Need to Know
HMRC Is Sending Thousands of Crypto Tax Letters — Here’s What UK Crypto Holders Need to Know Crypto tax is no longer something investors can afford to ignore. HMRC is increasing its focus on digital assets, and a growing number of UK investors are being contacted about possible Capital Gains Tax liabilities. Why this matters…
Read MoreFrozen tax thresholds: why now is the time to speak to your accountant
Frozen tax thresholds: why now is the time to speak to your accountant Frozen income tax thresholds are quietly reshaping the UK tax landscape. According to the latest HMRC figures, the number of higher rate taxpayers is expected to reach nearly 8 million in the current tax year, up from 7.29 million in 2025-26 and…
Read MoreCompanies House is cleaning up the register — here’s what SMEs need to know
Companies House is cleaning up the register — here’s what SMEs need to know Companies House has published its latest update on the Economic Crime and Corporate Transparency Act 2023 — and for small and medium-sized businesses, the message is simple: the register is becoming more active, more scrutinised and harder to ignore. Since March…
Read MoreHMRC and Directors’ Loans: What Small Business Owners Need to Know
HMRC and Directors’ Loans: What Small Business Owners Need to Know If you run a limited company, HMRC may soon want more detail about money moving between you and your business. Proposed reporting changes for close companies could affect how directors’ loans, dividends, reimbursements and other payments are recorded. HMRC says the proposals are intended…
Read MoreChanges for Crypto firms announced by FCA
Changes for Crypto firms announced by FCA In new measures announced by the Financial Conduct Authority (FCA), from Autumn 2027, crypto firms in the UK must meet financial resilience requirements, and market integrity rules covering areas such as insider trading and market manipulation. ‘This is a significant milestone for the FCA, for the industry, and…
Read MorePaternity Leave update
Paternity Leave update What are the paternity leave rules if a father is hired after their baby is born? Question: We have a new employee starting at the business on 27 June 2026. Their baby was born on 7 June 2026. They have asked to take a week of paternity leave in September 2026. Are…
Read MoreMonthly ‘payday’ deductions for 7 million Self-Assessment PAYE taxpayers
Monthly ‘payday’ deductions for 7 million Self-Assessment PAYE taxpayers In a radical move, HMRC has set out plans to end twice-yearly tax bills for the seven million PAYE taxpayers inside self-assessment, with monthly ‘payday’ payments. Following the introduction of mandatory Making Tax Digital for Income Tax for earners down to as low as £20,000 within…
Read MoreVAT and PAYE payments to be made by direct debit
VAT and PAYE payments to be made by direct debit HMRC has set out plans that require mandatory direct debit payments for VAT and PAYE affecting up to 87% of current registered businesses and sole traders. This will equate to a massive change for VAT and PAYE as HMRC consults on the plan, which requires…
Read MoreHMRC advise they will be chasing low value tax debt aggressively
HMRC advise they will be chasing low value tax debt aggressively HMRC will now be able to go for lower-level debt, but the consultations so far do not include any clarity of the lowest possible figure. Giving HMRC powers to access small tax debts, apparently below £10,000, directly from taxpayer bank accounts ‘could leave vulnerable…
Read More