New 40% First Year Allowance now in force
The new 40% First Year Allowance came into force from 1 January 2026. This marks an important development for businesses investing in plant and machinery. The new allowance was
Expenses for the self-employed
If you are self-employed, knowing which everyday costs you can legitimately claim can make a real difference to how much tax you end up paying.
The question of which costs you can
Pre-trading expenditure for companies
Starting a new business can be expensive, but many of your pre-trading costs may qualify for tax relief if they meet the right conditions.
There are special tax reliefs for
HMRC contacting sole traders
HMRC is currently contacting certain sole traders by email to reiterate the importance of adjusting business expenses for personal use.The email explains:why personal use must be
Building value in your business
For many small business owners, the focus is on day-to-day operations. However, building long-term value is just as important, whether your aim is to sell in the future, attract
Taxation of entertainment expenses
Many business gifts and hospitality costs are not tax-deductible under current rules.
Entertainment expenses including providing hospitality and business gifts are common, but the
How should multiple self-employed incomes be treated
Running more than one self-employed business? HMRC will not always treat them as separate. Whether they are taxed as one combined trade or multiple depends on how your activities
Registering informal money transfer businesses
HMRC has launched a campaign targeting informal money transfer networks like Hawala, aiming to combat money laundering and protect communities. Businesses must register for AML
Why flexible planning is advisable
Flexible planning is essential for adapting to uncertainty, responding to challenges, and seizing new opportunities. The world is unpredictable, and rigid plans can quickly become
Changes to online filing of accounts at Companies House
The Online Accounts and Company Tax Return (CATO) service is scheduled to close on 31 March 2026.
This service has enabled businesses to file their company accounts and tax