From 1 February 2026, Companies House will increase a number of filing fees. Most notably, the company incorporation fee will double, rising from £50 to £100. Why timing matters It’s important to factor in:                •             Identity verification checks                •             Obtaining your Personal Code                •             Any delays caused by incomplete or incorrect submissions […]

Many people think of “partnership losses” as one big pool, but that’s not how the UK tax system works. Each partner’s share of the partnership’s loss is treated as if they had made the loss personally in their own trade. This means each partner chooses, and claims, loss relief individually. Below is a guide to […]

Becoming self-employed is an exciting step — whether you’re starting a freelance business, offering consulting services, or running an online shop. But one thing many people don’t realise is that there are strict deadlines to notify HM Revenue & Customs (HMRC). Missing this deadline can lead to penalties — even if your income is small […]

If you’re self-employed and work from home, you can usually claim part of your household costs — things like electricity, gas, broadband, rent, or Council Tax — as business expenses. But what if those bills are paid by your partner or come out of a joint account? Can you still claim them on your tax […]

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 […]