Last chance to check for gaps in your National Insurance to qualify for your full state pension

You only have until 5 April 2025 to check your National Insurance record to enable you to fill in any gaps in your NI contributions from 2006 to 2018. If you have a shortfall in your record you have a few days to 5 April 2025 to buy back missed years to qualify for a full state pension – from 6 April you will only be able to fill in gaps for the last six tax years

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Most tax effective director’s salary and dividends for 2025-2026

You may wish to change how you pay a director’s salary and dividends due to the changes to Employer’s National Insurance Contributions (NICs) announced in the October budget. NICs are not payable on dividends so despite salaries being tax deductible, the optimum balance between paying a salary and a dividend may have shifted – depending on how many directors are in your business. If you are a director or shareholders of a small, limited company, read on to find out more.

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Self-Employed or a Landlord? Big Changes Ahead: Are You Ready for Making Tax Digital for Income Tax? (MTD ITSA)

From 6 April 2026, Making Tax Digital for Income Tax (MTD ITSA) will transform the way self-employed individuals and landlords manage their tax affairs. If you earn income through self-employment or property rentals, you’ll need to keep digital records and submit updates to HMRC every quarter. While payment deadlines remain the same, the shift to more frequent reporting means you’ll need to stay on top of your bookkeeping because the way you report your earnings is changing – are you prepared?

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Take the Stress Out of Your Self-Assessment Tax Return

As the self-assessment tax return deadline looms, freelancers, sole traders, and ‘solopreneurs’ across the UK are bracing themselves for what can feel like one of the most daunting tasks of the year. If you’re already feeling the pressure, you’re certainly not alone.

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Accounting for Christmas

As we leap towards the start of the festive season, with Christmas only a few weeks away (sorry!), we are sure that marketing and people teams are full speed ahead with planning Christmas parties and finding ways to to thank everyone for their hard work and loyalty over the past year. This means it is a great time to revisit HMRC’s guidance around parties and Christmas giving to your team and to your clients.

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Vehicle Excise Duty on Electric Cars from 1 April, 2025

If you drive an electric vehicle, you need to be aware of these changes to road tax. Currently, electric vehicles (EVs) are exempt from Vehicle Excise Duty (VED) also known as road tax. However, from 1 April 2025, drivers of electric and low emission cars, vans and motorcycles in the UK will need to pay VED, in the same way that drivers of petrol and diesel cars do. In addition, electric cars with a list price that exceeds £40k will no longer be expempt from the “expensive car” supplement.

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Budget Breakdown: Insights for Self-Employed, Companies, and Everyday Earners

On 30th October, Chancellor Rachel Reeves has presented Labour’s first Budget since their election. Understanding how their changes to the UK tax system impacts on your business and personal affairs is paramount. Get budget clarity here.

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Has the Dividend Allowance or Capital Gains Cut Put You in Self-Assessment?

Significant tax changes are coming for 2024-25, with reductions to both the Dividend Allowance and Capital Gains Tax (CGT) annual exempt amount. These changes could impact how you manage your investments and finances, making it important to stay informed and plan ahead. Here’s what you need to know and how to prepare.

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