Selling gifts at Christmas markets – beware!
Selling gifts at Christmas markets – beware! People selling homemade crafts and Christmas cards at markets this December need to keep within the £1,000 side hustle threshold, or face a demand from HMRC. With Christmas markets springing up across the country, HMRC has warned anyone selling handmade gifts and other items at venues around the…
Read MoreProof of ID verification for directors will be introduced on Companies House register
Proof of ID verification for directors will be introduced on Companies House register This new verification will mean that due diligence and evidence that directors and people with significant control (PSCs) have complied with the new ID verification rules which came into effect on 18 November 2025. Company directors and people with significant control (PSCs) will be…
Read MoreWhat are the tax implications of buying crypto?
What are the tax implications of buying crypto? HMRC is becoming increasingly active with regards to crypto with over 65,000 nudge letters having been sent out to suspected crypto investors in 2025. In 2024, 27,700 letters were sent out. The letters are being sent in advance of the new reporting obligations for cryptoasset service providers…
Read MoreID verification for company directors
ID verification for company directors New legal requirements will take effect from 18 November 2025, requiring both directors and persons with significant control (PSCs) of companies to verify their identities with Companies House. This is part of the Economic Crime and Corporate Transparency Act 2023 (ECCTA), for which the objective is to improve the quality…
Read MoreHMRC sends 65,000 ‘nudge’ letters to crypto traders
HMRC sends 65,000 ‘nudge’ letters to crypto traders In a push to improve tax compliance, HMRC has sent out over 65,000 nudge letters to ‘hobby crypto traders’ it suspects are underpaying tax on gains. There is an estimated £12.9bn held by UK taxpayers in crypto, up from £7.8bn in 2022. HMRC has decided it is…
Read MoreCompanies House announces fees will escalate from 2026
Companies House announces fees will escalate from 2026 Companies House has announced it plans to increase their fees. With company incorporation increasing to £100 from the current £50, and confirmation statements to £50 from £34, affecting both companies and limited liability partnerships (LLPs) filing digitally. While anybody still filing via paper will also see their…
Read MoreBonfire Night and the Sparkler of Good Accounting
Bonfire Night and the Sparkler of Good Accounting As the skies light up with fireworks this Bonfire Night, it’s a great reminder that — much like a dazzling firework display — a successful business needs careful planning, timing and control. Behind every impressive firework show lies meticulous budgeting, risk assessment, and organisation. Too little planning,…
Read MoreThe Economic Crime and Corporate Transparency Act at Companies House – what are the changes?
The Economic Crime and Corporate Transparency Act at Companies House – what are the changes? Company name abuse Previously – Companies House had limited powers to combat misleading company names being registered. Now – Companies House can reject names at incorporation, request changes and annotate or remove records. Companies House investigated a number of cloned restaurant companies in 2024,…
Read MoreTax or Treat? Face your financial frights this Halloween!
Tax or Treat? Face your financial frights this Halloween! Many people, especially children, love the thrill of being scared and startled by ghosts, witches, and vampires at Halloween. While many enjoy the fear and excitement associated with this horror-filled holiday, don’t let your taxes and financial future bring you a fright this Halloween. Let’s face…
Read MoreThe impact of the Economic Crime and Corporate Transparency Act on Companies House
The impact of the Economic Crime and Corporate Transparency Act on Companies House In March last year, the first reforms brought about by the Economic Crime and Corporate Transparency Act 2023 came into effect and the changes granted Companies House enhanced powers to tackle corporate abuse and fraud. Before the act became law, company registration…
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