When clients think about Child Benefit, they often focus on the weekly payments — £26.05 a week for the first child and £17.25 for each additional child in 2025/26. But there’s a much bigger — and often overlooked — benefit: protecting your National Insurance (NI) record, particularly if you’re not currently working or earning below […]

When submitting your UK Self-Assessment tax return, accuracy matters. HMRC has the power to charge penalties if your return contains an inaccuracy that leads to an understatement of tax, a false or inflated loss, or a false or inflated repayment claim. These penalties are governed by Schedule 24 of the Finance Act 2007 and depend […]

Introduction The Controlled Foreign Company (CFC) rules – set out in Part 9A of the Taxation (International and Other Provisions) Act 2010 (TIOPA 2010) – are designed to stop UK businesses and individuals from diverting profits to companies in low- or no-tax countries to avoid UK tax. If a foreign company is classed as a […]

On 26 November 2025, Chancellor Rachel Reeves presented her second Budget to Parliament. After the tax-raising budget of 2024, it had been hoped by the government that widely applicable tax increases would not be required again in 2025. However, with economic pressures continuing to apply, tax increases have been announced, and these will affect most […]

The government has confirmed that access to Class 2 voluntary National Insurance contributions for individuals living overseas will be removed from 6 April 2026. This forms part of a wider reform intended to prevent people living abroad from securing UK State Pension entitlement at a comparatively low cost. At the same time, the initial UK […]

The Autumn Budget has now confirmed what had been expected for weeks: from April 2026, the basic and higher dividend tax rates will each rise by two percentage points. These changes directly affect individuals who draw income from their companies through a combination of salary and dividends. Confirmed 2p dividend tax rise – basic and […]

Filing your Self-Assessment tax return on time is essential to avoid fines from HM Revenue & Customs (HMRC). Here’s a straightforward explanation of the key deadlines, how they work, and what happens if you file late. When You Need to File Your Tax Return Paper Returns Example: The 2024/25 tax year ends on 5 April […]

Sometimes, when you sell or transfer an asset, the proceeds are not received all at once. Instead, they might be paid in instalments spread over several years. To avoid a cashflow crunch, UK tax law provides two different provisions – s.280 and s.281 TCGA 1992 – which allow CGT to be paid in instalments. CGT […]

Introduction If you’re self-employed in the UK, understanding what expenses you can claim is essential to ensure you’re not overpaying tax. HMRC allows you to deduct expenses incurred “wholly and exclusively” for the purposes of your trade — but there are many nuances, especially when personal use is involved. This guide sets out the main […]

Capital Gains Tax (CGT) is a tax you may have to pay when you sell or dispose of an asset for more than you paid for it. It’s an important part of the UK tax system and applies to individuals as well as companies, although the rules differ slightly depending on who owns the asset. […]