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Cash basis accounting is a simplified method used by sole traders and other unincorporated businesses to work out income and expenses for self-assessment in a straightforward manner. The cash basis is the default method for calculating income and
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Stamp Duty Land Tax (SDLT) is a tax that may apply when you buy land or property in England or Northern Ireland. It is important to check whether SDLT applies before completing a purchase, as the tax can represent a significant additional cost. SDLT
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After someone dies, the beneficiaries may find that the way an estate has been distributed does not reflect their wishes or the family’s circumstances. A Deed of Variation can allow beneficiaries to change how inherited assets are passed on and, in
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Many successful businesses eventually reach a point where additional finance is needed. Whether the objective is purchasing equipment, expanding premises, recruiting staff or improving cash flow, access to funding can often determine how quickly a
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Energy costs remain a significant overhead for many UK businesses. Although wholesale prices have eased from the exceptional highs seen in recent years, uncertainty in global energy markets means prices can still fluctuate sharply. For many small
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If you pay for replacing or repairing small tools you need for your job, you may be able to claim tax relief from HMRC. Eligible tools include items such as scissors, small hand tools and electric drills that are essential for carrying out your work
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The new Chancellor of the Exchequer, John Healey has confirmed, in a video message, that the next UK Budget will take place on Wednesday, 28 October 2026. Details of all the Budget announcements will be made on a special section of the GOV.UK website
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UK taxpayers with income from overseas may not always be aware of the tax rules that apply. Foreign income is defined as any income from outside England, Scotland, Wales and Northern Ireland. The Channel Islands and the Isle of Man are classed as
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Some self-employed individuals experience significant fluctuations in their profits from one year to the next. When this happens, HMRC’s averaging relief may help to regularise tax payments by levelling profits across more than one tax
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Employees who use their own vehicle for business journeys may receive Mileage Allowance Payments (MAPs) from their employer. These payments can be made tax-free up to HMRC’s approved amount, calculated by multiplying business miles travelled by the