Month: August 2026
New proposals recommend regular ITSA tax payments from 2029
A new consultation paper from the Government has set out how Income Tax Self Assessment (ITSA) payments could move to a more regular, in-year footing. The new proposals, which formed part of the latest Tax Update, follow on from recommendations
MTD is here – What happens if you miss the first deadline on 7 August?
Making Tax Digital (MTD) for Income Tax became mandatory this year for sole traders and landlords with qualifying income over £50,000 and the first quarterly update deadline hits in August. Meeting the deadline The first quarterly update period runs from
Parents with teenagers could lose out on Child Benefit after 31 August
If you or any of your employees have children aged 16 to 19, it is worth noting an important HMRC deadline that could affect household finances. What is changing? Child Benefit automatically stops on 31 August after a child turns
Summer season success: Don’t get caught out by the unique payroll requirements of seasonal workers
Seasonal workers are the backbone of many British businesses during the busy summer months. However, employers must understand the unique payroll responsibilities for these workers to ensure that they are being paid correctly. Setting up seasonal workers It can be
Companies House issues warning over scammers
Companies House has issued warnings to directors after a rise in scam emails following the organisation’s new identity verification processes. The scams are designed to create urgency and encourage directors to hand over personal information or click malicious links. While
I have received a HMRC enquiry letter – What do I do now?
HMRC enquiry letters are sent to individuals to notify them that HMRC has chosen to formally investigate their tax affairs. While some enquiries are carried out randomly, the majority are selected based on a risk assessment of a business. These checks should not be
Invoice financing – Liberating cash tied up in late payments
SMEs in the UK have struggled with late payments for years and cash tied up in unpaid invoices can put pressure on your business’s ability to operate effectively. Invoice financing can release funds locked up in late payments, giving a