Blogs
Self Assessment tax return 2025-26: Stay Ahead of the Curve
Now that we’re past 05 April 2026, it’s time to get on with the 2025-26 self assessment tax return in the UK. The tax landscape has undergone some changes in the recent past which affects how the 2025-26 tax return gets prepared. For those with offshore income and gains, self-employed
Navigating the MTD roll out
Today, April 6, 2026, marks a monumental shift in the administration of income tax in the UK, as HMRC commences the statutory rollout of Making Tax Digital (MTD) for Income Tax. This change represents the start of a major overhaul of the self-assessment regime in a generation. The Legislation The
Ignorance of tax law is bliss – the reasonable excuse debate
For many years, it has been impressed upon tax advisers that the Latin legal maxim Ignorantia juris non excusat (ignorance of the law is no excuse) provided no defence in tax cases. Historically, a failure to keep abreast of statutory tax obligations has provided no safeguard against penalties. However, the
UK LLP vs. UK Limited Company
Often businesses need to decide what sort of an organisation structure suits them best. Various choices often get narrowed down to one between a limited company and a limited liability partnership. Here are some areas that could be looked in to whilst making that choice. Private Limited Company Limited Liability
Security by defaulting PAYE employers
S.85 of the Finance Act 2011 introduced amendments to s.684 of the Income Tax (Earnings & Pensions) Act 2003 as follows: “4B Provision that in specified circumstances a person may be required to give security, or further security, for the payment of amounts in respect of which the person is
Bona Vacantia and company strike-off
Once formed, the law regards a company as an artificial legal “person” with rights and obligations distinct and separate from those who formed it. A company can own assets in its own name like any other person can do. And the company never dies, only its existence gets terminated either
Corporate directors
Section 155(1) of the Companies Act 2006 requires every company in the UK to have at least one director who is a natural person. Effectively this has plugged a major loophole in the company form of business structure where enterprising businessmen could shirk the director’s responsibilities by appointing corporate directors.
ESC C16 is law now
The First Delegated Legislation Committee of the House of Commons has approved the recent enactment of Extra-Statutory Concessions Order 2012 giving legislative effect to six extra-statutory concessions (ESCs), including ESC C16 ( http://www.taxpartnersuk.com/news_detail.php?news_id=76 ), which covers the tax treatment of distributions to shareholders when a small company is dissolved. With
Small Business Plans
Depending on what the purpose is, a business plan could take different forms. The emphasis would change depending on whether the business plan is for a start up one or for an existing business. Typically an existing business planning to raise money would include the following in its business plan:
