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Businesses owing over £2.3 million in VAT annually must make advance payments on account. These are based on the previous year’s VAT liability and paid in instalments. Late payments incur penalties, but adjustments may be possible for fluctuating
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From April 2025, Child Benefit increases to £26.05 for the eldest child and £17.25 for others. Payments stop after a child turns 16 unless they continue in approved education or training. Parents must update HMRC by 31 August to avoid
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The Government-backed Start-Up Loans scheme offers unsecured loans of £500 to £25,000 per person (up to £100,000 per business) to help entrepreneurs grow. With a fixed 6% interest rate and mentoring support, it’s a great funding option for new
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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 returns simultaneously with both Companies House and HMRC. However, due to
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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 The world is unpredictable, and rigid plans can quickly become outdated. Whether in business or personal life, flexibility ensures
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1 April 2025 – Due date for corporation tax due for the year ended 30 June 2024. 19 April 2025 – PAYE and NIC deductions due for month ended 5 April 2025. (If you pay your tax electronically the due date is 22 April 2025). 19 April 2025 – Filing
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A salary sacrifice scheme lets employees swap cash salary for non-cash benefits, saving tax and National Insurance. But earnings must not fall below the National Minimum Wage, and life events may impact eligibility. Learn how to navigate these
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Using business goods instead of selling them is usually VAT-free, but some cases require VAT payments. These "taxable self-supplies" include cars taken from stock and certain buildings. Read on to see how to stay compliant. If your
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If your spouse or civil partner has passed away, you may inherit part of their State Pension, depending on when you reached pension age. Find out what you could claim, from basic pension boosts to deferred benefits and top-ups. If you reached State
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Renting out part of your home may affect Capital Gains Tax when you sell. While Private Residence Relief applies, Letting Relief can reduce taxable gains. Learn how PRR, Letting Relief, and exemptions impact your tax liability. If you have tenants