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South Shields
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Blog

March 17, 2025

Why Adequate Business Insurance is Essential for Small Businesses

For small business owners, especially those operating as sole traders or in partnerships without
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March 17, 2025

Business Advice: An Investment, Not a Cost

Flexible planning is essential for adapting to uncertainty, responding to challenges, and seizing
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March 13, 2025

Government backed Start-Up Loans

The Government-backed Start-Up Loans scheme offers unsecured loans of £500 to £25,000 per person
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March 7, 2025

Tax Diary April/May 2025

1 April 2025 - Due date for corporation tax due for the year ended 30 June 2024. 19 April 2025 -
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March 6, 2025

VAT and the goods you use in your own business

Using business goods instead of selling them is usually VAT-free, but some cases require VAT
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March 6, 2025

Inheriting spouse’s State Pension

If your spouse or civil partner has passed away, you may inherit part of their State Pension,
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March 6, 2025

Letting out part of your home – claiming lettings relief

Renting out part of your home may affect Capital Gains Tax when you sell. While Private Residence
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March 6, 2025

More tax on business disposals from April 25

From April 2025, the Capital Gains Tax rate on Business Asset Disposal Relief rises from 10% to
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March 6, 2025

Making a negligible value claim with HMRC

A negligible value claim lets taxpayers declare an asset worthless for tax purposes, realising a
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March 3, 2025

Essential Credit Control for SMEs

A well-structured credit control system is crucial for small businesses to maintain cash flow and
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March 3, 2025

Sources of funding for small businesses

Starting or growing a small business often requires capital, but securing the right funding can be
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February 27, 2025

Treatment of post-cessation receipts and payments

When a trade ends, income doesn’t always stop. Post-cessation receipts can still arise, and knowing
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February 27, 2025

How far back can HMRC assess under-declared taxes?

From income tax to VAT, HMRC has specific time limits for issuing tax assessments. Depending on the
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February 27, 2025

UK residence and tax issues

The UK's shift to the Foreign Income and Gains (FIG) regime from April 2025 changes how foreign
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February 27, 2025

What’s included in your VAT return

With a £90,000 VAT registration threshold, many UK businesses might wonder whether to register
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February 27, 2025

Tax-free redundancy payments

If redundancy strikes, you could receive up to £30,000 tax-free. Whether it’s statutory or a more
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February 21, 2025

Self-employment cannot be used as a tax smokescreen for contracted employees

A complex celebrity case arose recently in which the First-tier Tax Tribunal (FTT) was asked to
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February 20, 2025

Business mileage with your own vehicle

Understanding the nuances of tax relief for using your personal vehicle for work can lead to
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February 20, 2025

E-invoicing consultation

HMRC together with the Department for Business and Trade (DBT) have launched a new consultation on
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February 20, 2025

Claiming tax relief for job expenses

Employees working from home may be eligible to claim a tax deduction for certain job-related
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February 20, 2025

Probate waiting times halved

The Ministry of Justice (MOJ), together with HM Courts & Tribunals Service (HMCTS) and the
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February 20, 2025

Is your extra income taxable?

HMRC has launched a new "Help for Hustlers" campaign to help people who are earning extra
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February 17, 2025

Should you incorporate your business?

Deciding whether to incorporate your business in the UK involves evaluating several key
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February 17, 2025

Exploring National Insurance Credits

Even if you have never been employed, you might have been eligible for NI credits without realising
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February 13, 2025

Check or update company car tax details

If you use a company car for private travel, it's taxed as a Benefit in Kind (BIK). The tax rate
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February 13, 2025

Jointly owned property – no partnership

Tax on rental income from jointly owned property depends on ownership shares, unless part of a
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February 13, 2025

Tax when transferring assets during divorce proceedings

Separation and divorce can create tax implications, particularly Capital Gains Tax (CGT) on asset
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February 13, 2025

Cut in interest rates

The Bank of England’s Monetary Policy Committee (MPC) met on 5 February and in a 7-2 vote decided
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February 13, 2025

Health services exempt from VAT

Health professionals providing medical services may be exempt from VAT if their work falls within
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February 11, 2025

How to Check the Creditworthiness of New Customers

Before extending credit to new customers, it’s essential to assess their financial reliability.
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February 11, 2025

How to Stop Future Payments on Your Debit or Credit Card

Stopping future payments from being made on your debit or credit card is crucial for avoiding
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February 11, 2025

Not all hurt feelings are uncapped & costly

The Employment Appeal Tribunal slashed a £10,000 award for injury to feeling by 80% after an
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February 4, 2025

Tax Diary March/April 2025

1 March 2025 - Due date for Corporation Tax due for the year ended 31 May 2024. 2 March 2025 -
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February 3, 2025

Late Payment Support for Small Businesses – How to Protect Your Cash Flow

Cash flow is the backbone of any small business, yet late payments continue to be a major challenge
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February 3, 2025

A Small Business Guide to Exporting and International Trade

Expanding into international markets can be a game-changer for UK small businesses, opening up new
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January 28, 2025

It is not always possible to mend fences – Reinstatement is not always a practicable option where there is a breakdown in employment relations

The Employment Appeal Tribunal (EAT) upheld claims of constructive dismissal and disability
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January 28, 2025

Understanding the UK’s Bank Deposit Guarantee Scheme

The UK government offers a robust safety net for savers through the Financial Services Compensation
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January 28, 2025

Google to Tackle Fake Reviews Following CMA Investigation

In a significant move to enhance trust in online reviews, Google has agreed to implement
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January 23, 2025

Claiming VAT on pre-registration purchases

Businesses can reclaim VAT on pre-registration expenses if they relate to taxable supplies made
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January 23, 2025

Dealing with company unpaid debts

Unpaid debts can put a limited company at risk of a winding-up petition, potentially leading to
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January 23, 2025

Rolling over capital gains

Business Asset Rollover Relief allows you to defer Capital Gains Tax (CGT) when reinvesting
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January 20, 2025

Investing in new equipment for your business?

Making a significant investment in new equipment can be a transformative step for a business,
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January 20, 2025

Debt Management Plan

Navigating financial challenges can be daunting, but understanding the tools available can make a
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January 16, 2025

Payrolling employee benefits

Employers can voluntarily register to report and account for tax on certain benefits and expenses
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January 16, 2025

Tax-exempt employee loans

Beneficial loans, where employees benefit from cheap or interest-free loans from their employer,
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January 16, 2025

Online information about a company

A significant amount of online information about companies is available to the public on the
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January 16, 2025

Selling online and paying tax

Selling online? Whether it’s a hobby or a business, you may need to pay tax if your earnings exceed
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January 16, 2025

Penalties for late filing of tax returns

HMRC reports over 63,000 taxpayers filed their returns over the New Year, but 5.4 million still
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January 14, 2025

Beware the legal minefield of the transferring of contractual undertakings

A recent case [London United Busways Ltd. (LUB) v De Marchi and Abellio London [2024] EAT 191]
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January 13, 2025

Ticket touts’ days are numbered

The UK government has unveiled a series of proposals aimed at curbing exploitative practices in the
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January 9, 2025

Tax relief for zero emission cars and electric charge points

Great news for businesses! Tax relief on zero-emission cars and EV charge points has been extended
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January 9, 2025

Future increases in CGT on sale of a business

Planning to sell your business or shares? Capital Gains Tax rates for Business Asset Disposal
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January 9, 2025

What expenses can be claimed against rental income

Are you a landlord? Maximise your rental income by knowing which expenses you can claim to reduce
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January 9, 2025

Finding your National Insurance number

Misplaced your National Insurance number? Do not worry! From checking payslips to using the HMRC
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January 9, 2025

Last month to file 2023-24 tax return

The 31 January 2025 deadline for self-assessment tax returns is fast approaching. Avoid penalties
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January 2, 2025

Inheritance Tax thresholds and the RNRB

Inheritance Tax nil-rate bands remain frozen until April 2030. Learn how this affects estates, the
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January 2, 2025

Using the car fuel rates

Advisory fuel rates for company cars help employers and employees manage fuel costs without
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January 2, 2025

Advising HMRC of employees’ company car details

Ensure compliance with HMRC rules when providing company cars. From P46(Car) submissions to benefit
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January 2, 2025

Capital Gains Tax – the new rates

Capital Gains Tax rates have increased for disposals from 30 October 2024, with further changes
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January 2, 2025

Cash-basis default position for self-employed

The cash basis is now the default for self-employed income reporting. Learn about the key updates,
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January 2, 2025

Tax Diary February/March 2025

1 February 2025 - Due date for Corporation Tax payable for the year ended 30 April 2024. 19
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December 19, 2024

The Substantial Shareholdings Exemption

For companies selling shares, the Substantial Shareholdings Exemption (SSE) can mean significant
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December 19, 2024

When can you recover VAT on a car purchase

Reclaiming VAT on company cars isn’t as simple as it sounds. Generally, businesses can’t recover
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December 19, 2024

New online tax tools for the self-employed

Navigating tax obligations can be daunting for small business owners and sole traders. To make life
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December 19, 2024

Spreading tax payments by using Time to Pay

Can’t pay your tax bill in full by 31 January 2025? HMRC’s online Time to Pay system lets
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December 19, 2024

Claiming Child Benefits online

Over one million parents have now claimed Child Benefit online or via the HMRC app, with 87% of new
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December 17, 2024

Why Protecting Intellectual Property is Important

Intellectual property (IP) refers to creations of the mind, such as inventions, literary works,
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December 17, 2024

Government Forces Water Companies to Double Compensation

The UK government has announced significant reforms to enhance compensation for customers affected
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December 16, 2024

Just because an employee is a lawful resident of the UK does not give them the right to work

A restaurant in Middlesborough recently challenged a civil penalty notice of £15,000 issued by the
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December 12, 2024

Are you eligible to claim the Marriage Allowance?

Could you save up to £1,260 in tax this year? If one of you earns less than £12,570, the Marriage
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December 12, 2024

IHT nil rate band reduction for large estates

Married couples and civil partners may be able to pass on up to £1 million of their estate tax-free
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December 12, 2024

Self-assessment scam warning

Scammers are on the rise as the Self-Assessment deadline nears! HMRC warns that HMRC never emails
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December 12, 2024

No tax changes for online sellers

Selling online? From 2024, digital platforms must report your information to HMRC if sales exceed
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December 12, 2024

Scottish Budget Statement 2025-26

Scotland’s 2024 Budget delivers on public priorities with investments in services, poverty
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December 9, 2024

Launch Your Dream Business: 10 Must-Know Steps

Starting your own business is exciting but can be overwhelming if you’re not prepared. To help you
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December 9, 2024

Government Unlocks Success for Small Businesses

Small businesses across the UK can now access streamlined support and advice through the newly
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December 5, 2024

Protect your land and property from fraud

It is important to take the necessary steps to protect your land and property from fraud. You are
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December 5, 2024

Transfers of assets abroad

A new rule aimed at preventing individuals from using companies to avoid taxes through the Transfer
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December 5, 2024

VAT Flat Rate Scheme overview

The VAT Flat Rate Scheme allows businesses to pay VAT as a fixed percentage of their total
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December 5, 2024

Apply for or locate a National Insurance number

If you have lost or forgotten your National Insurance number, there are several ways to retrieve
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December 5, 2024

How to interpret your tax code

The letters in your tax code indicate whether you are entitled to the annual tax-free personal
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December 3, 2024

Tax Diary January/February 2025

1 January 2025 - Due date for Corporation Tax due for the year ended 31 March 2024 19 January 2025
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December 3, 2024

When it comes to pensions, it is of paramount importance to Re-DOC on time!

A tribunal recently ruled on the failure of a private limited company, El Recruitment Ltd., to
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December 2, 2024

The Likely Effects of Employers’ NIC Increases in 2025

The upcoming increase in Employers’ National Insurance Contributions (NICs) is set to have
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December 2, 2024

Fuel prices report by Competition and Markets Authority (CMA)

Fuel margins of retailers - the difference between what a retailer pays for its fuel and what it
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November 28, 2024

Changes to CGT Investors’ Relief

The rate of Capital Gains Tax (CGT) for Investors’ Relief will rise from 10% to 14% for disposals
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November 28, 2024

Gifts of land and buildings to charities

There are special rules in place for taxpayers who make gifts of land and buildings to charity.
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November 28, 2024

Seven year rule still applies – IHT PETs

There are specific rules regarding the liability to Inheritance Tax (IHT) on gifts made during a
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November 28, 2024

Landlords with undeclared Income

The Let Property Campaign provides landlords who have undeclared income from residential property
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November 28, 2024

Approaching the VAT registration threshold

When approaching the VAT registration threshold there are important matters to consider. The VAT
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November 25, 2024

What are your concerns?

According to the Office for National Statistics as of October 2024, the primary concerns among
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November 25, 2024

What does EBITDA stand for?

EBITDA stands for Earnings Before Interest, Taxes, Depreciation, and Amortisation. It's a widely
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November 21, 2024

Making Tax Digital – the next step

The mandatory rollout of Making Tax Digital (MTD) for Income Tax is set to begin in April 2026. MTD
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November 19, 2024

Bolt ruling seals the case against sham contracts

Despite an appeal, the Courts recently found against Bolt in relation to their attempts to evade
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November 18, 2024

What is an acceptable pensions income?

Determining an acceptable level of pension income for retirement depends on individual
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November 18, 2024

Subscription scams

New proposals to crack down on subscription traps, have been unveiled by the Department for
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November 14, 2024

An overview of salary sacrifice arrangements

A salary sacrifice arrangement involves an agreement by an employee to lower their cash salary in
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November 14, 2024

Tax changes for Furnished Holiday Lets property owners

The current tax benefits for the letting of properties as short-term holiday lets (known as
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November 14, 2024

Limits on Income Tax reliefs

The limit on Income Tax reliefs has applied since 6 April 2013. This measure was the first time a
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