Recent years have held a lot of uncertainty for small and medium-sized enterprises (SMEs) and independent businesses. While there are signs of recovery, SMEs have seen slow growth in recent months. However, with employment increasing at a faster pace than in large firms, there is a variety of ways in which small businesses can protect…

Inheritance tax (IHT) can be a sore subject for some taxpayers, especially when it comes to passing on the family home to the next generation. Often referred to as a “death tax” it cannot be ignored if you intend to leave considerable wealth to your beneficiaries. Recent developments indicate that more families than ever could…

The recent update to HM Revenue & Customs’ (HMRC) Employment Income Manual is a significant development for businesses and employees utilising company cars, particularly electric vehicles (EVs). The revised guidance now aligns with existing legislation, specifically, Section 239 of the Income Tax (Earnings and Pensions) Act 2003, which states that reimbursements for expenses incurred in…

The recent survey by the British Chambers of Commerce (BCC) reveals a concerning lack of preparedness among UK small and medium-sized enterprises (SMEs) for ongoing EU regulations and tax changes. A staggering 80 per cent of SMEs surveyed are unaware of the reporting requirements for the EU’s new Green Tax, which took effect on 1…