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Here’s what you need to know about the upcoming ID checks at Companies House. From Autumn 2025, Companies House will implement mandatory ID checks for directors and persons with significant control (PSCs) of UK companies. This initiative aims to enhance corporate transparency and combat fraud, addressing concerns over the misuse of corporate structures for criminal…

From 1 April 2025 changes to the National Living Wage (NLW) and National Minimum Wage (NMW) rate will come into effect.   These changes reflect a notable increase particularly for younger works, this is part of the government’s aim to extend the NLW to 18-year-olds in the future.   The NMW is the minimum pay…

If you can’t pay your Self Assessment tax bill that was due for payment on 31st January 2025 and need help, you should contact HMRC as soon as possible.   For Self Assessment, you may be able to set up a payment plan online. This will enable you to pay your Self Assessment tax bill in instalments without…

Are you aware of the April 2025 tax changes for Double Cab Pick Ups with payloads exceeding 1 tonne?   The current treatment of Double Cab Pick Up trucks for capital allowance and benefit-in-kind (BIK) purposes, sees these vehicles treated as vans as opposed to cars, provided they have a payload exceeding 1 tonne. In…

As we approach another personal tax year end, we turn our thoughts to tax planning opportunities and actions that should be considered before 5 April. The list below is not exhaustive; however, it should provide some food for thought.   Pension Contributions Higher rate and additional rate tax can be saved on pension contributions. However,…

Have you checked your State Pension gaps?   State pension has changed for those who will reach State Pension age from 6th April 2016. This covers men born on or after 6th April 1951 and women born on or after 6th April 1953 who could be eligible for the new State Pension.   The new…

This time last month we shared a post warning about Self Assessment Scams – Now we are finding that VAT Returns are also being targeted by criminals.   Keep an eye out for phishing emails pretending to be HMRC – an example below showing a likeness to HMRC emails. HMRC will never ask you to…

Why Outsource Your Payroll? As employers approach the new tax year, those who do not have the administrative capabilities or expertise to run a payroll function may wish to consider outsourcing. Payroll outsourcing involves the hiring of an external individual, or company, usually in the form of an accountant/bookkeeper, or via a specialist bureau to…

Have you ever considered buying a business, to rapidly expand the size and profitability of your business? Perhaps you have thought about such a ‘buy and build’ strategy as part of your growth plans, but you were nervous about the risk or the process.   As members of The Corporate Finance Network, we can support…

In the world of small and medium-sized enterprises (SMEs), maintaining robust internal controls is crucial. One of the most effective internal control processes is the Segregation of Duties (SOD). This principle involves dividing responsibilities among different individuals to reduce the risk of errors, fraud, and conflicts of interest.   What is Segregation of Duties? Segregation…