HMRC Tax Gap Reaches £59.2bn – Why Small Businesses Need to Get Their Tax Right
HMRC Tax Gap Reaches £59.2bn – Why Small Businesses Need to Get Their Tax Right HMRC’s latest figures show that the UK tax gap has reached £59.2 billion for 2024/25, an increase of £6.4 billion on the previous year and the highest amount ever recorded. The tax gap represents the difference between the tax HMRC…
Read MoreCompanies House Identity Verification Delayed Until 2027
Companies House Identity Verification Delayed Until 2027 Companies House has announced a delay to some of its planned identity verification requirements, giving businesses and their accountants more time to prepare. The requirement for people who file company documents and accounts on behalf of companies, but who are not company directors, was originally expected to become…
Read MoreHMRC launches tax filing and payment deadline tool
HMRC launches tax filing and payment deadline tool HMRC releases handy new online tool to allow taxpayers to check filing and payment deadlines and to add key dates to calendar apps for instant reminders. This is a brand new HMRC tool, currently in beta stage, and can be used to check the deadlines for PAYE…
Read MoreDirector’s Loan Account: UK Tax Rules, Repayment and Good Practice
Director’s Loan Account: UK Tax Rules, Repayment and Good Practice A director’s loan account records money moving between a director and their limited company outside salary, dividends and legitimate expenses. Understanding the UK tax rules, repayment deadlines and reporting duties can help directors avoid unexpected charges and protect company funds. What is a director’s loan…
Read MoreCompanies House is moving to GOV.UK One Login: what directors need to know
Companies House is moving to GOV.UK One Login: what directors need to know Companies House is making GOV.UK One Login the main way to sign in to its “Find and update company information” service. The change is part of a wider move towards a single, more secure sign-in for government services. What is changing? The…
Read MoreHMRC to Automatically Sign-Up Taxpayers for Making Tax Digital: What You Need to Know
HMRC to Automatically Sign-Up Taxpayers for Making Tax Digital: What You Need to Know More than 294,000 taxpayers may still need to act—here is how sole traders and landlords can take control of their MTD obligations. HMRC has confirmed that, from September 2026, it will begin automatically signing up taxpayers who should already be using…
Read MoreEmployer National Insurance Receipts Surge: What the £143.9bn Record Means for UK Businesses
Employer National Insurance Receipts Surge: What the £143.9bn Record Means for UK Businesses Higher rates and a lower threshold have driven a sharp increase in employer NIC receipts—putting payroll costs, recruitment decisions and business planning firmly in the spotlight. Employer National Insurance contributions (NICs) have risen sharply following the changes introduced in April 2025. Provisional…
Read MoreHMRC’s New Tax Debt Proposals: Could Money Be Taken Directly from Your Bank Account?
HMRC’s New Tax Debt Proposals: Could Money Be Taken Directly from Your Bank Account? HMRC is consulting on plans to extend its debt-recovery powers to lower-value tax debts, potentially allowing monthly payments to be taken directly from a taxpayer’s UK bank or building society account. The proposals are intended for individuals and businesses that persistently…
Read MoreCompanies House identity-verification scams: what every director needs to know
Companies House identity-verification scams: what every director needs to know Fraudsters are exploiting a genuine legal requirement to steal directors’ identity and financial information. Here is how to recognise the warning signs and respond safely. Company directors are being targeted by convincing phishing emails that impersonate Companies House and demand urgent identity verification. The messages…
Read MoreChanges in HMRC Guidance for Spotlight 63 | Kennedys Accounting
Changes in HMRC Guidance for Spotlight 63 | Kennedys Accounting Learn about the latest HMRC Spotlight 63 guidance and what it could mean for landlords and property investors. Book a confidential consultation with Kennedys Accounting today. If you’re a landlord or property investor using a hybrid partnership arrangement, it’s important to keep up to date…
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