If you use Xero for your business accounts, take note – new pricing comes into effect from 1 September 2025. Xero has announced that monthly subscription fees will increase for UK users on their Grow, Comprehensive, and Ultimate plans. The price for Simple and Ignite...
The salaried members rules are an anti-avoidance measure designed to prevent limited liability partnerships (LLPs) from disguising remuneration paid to members as profit share instead of employment income. If the rules are triggered, the member’s earnings are...
Small employers can usually recover 100% of most of the statutory payments they make to employees plus compensation from HMRC. If your business qualifies for small employers’ relief you can claim 103% of almost all statutory payments made to employees until 5...
The Check Employment Status for Tax (CEST) tool allows contractors and other individuals providing services – or businesses engaging workers to perform services for them – to determine whether the work should be treated as employment or self-employment for...
Making Tax Digital for Income Tax (MTD IT) is fast approaching, with the mandation date for sole traders and landlords with qualifying income of £50,000 and above set firmly at 6 April 2026. In addition to the annual tax return, those mandated to comply with the MTD...
From the 2024-25 tax year, self-employed individuals with profits in excess of £6,725 no longer need to pay Class 2 national insurance contributions (NIC). Instead those taxpayers will receive a national insurance credit to secure their access to contributory benefits...
