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Revised Company Size Thresholds Take Effect from April 2025

The UK government has enacted a significant reform to company reporting rules by increasing the financial thresholds that define a company’s size for accounting and filing purposes. From 6 April 2025, businesses will see the turnover and balance sheet limits rise by approximately 50%, allowing thousands more companies to qualify for simplified reporting obligations under […]

DMCC Act 2024: Key Consumer Law Changes Ahead

The UK government has passed the Digital Markets, Competition and Consumers Act 2024 (DMCC Act), marking one of the most substantial overhauls of consumer protection law in over a decade. Coming into force in April 2025, this legislation is designed to tackle misleading business practices, increase fairness in digital marketplaces, and give regulators sharper tools […]

Business Liquidations on the Rise: What’s Driving the Exit Trend Among UK Entrepreneurs?

In the 2024–25 tax year, the UK experienced a marked increase in voluntary business liquidations, with levels not seen since the height of the COVID-19 pandemic. This upward trend has raised concerns among economists, business advisers, and policymakers, as more entrepreneurs—particularly sole traders and owners of small private limited companies—choose to shut down operations and […]

Inheritance Tax Reform: A New Challenge for Family Businesses

Recent changes to the UK’s inheritance tax (IHT) regime are set to have a lasting impact on the way family businesses plan for succession and generational transfer of ownership. Announced as part of the Autumn 2024 Budget and due to come into effect in April 2026, these changes centre on Business Property Relief (BPR), a […]

HMRC Clarifies LLP Salaried Member Rules: What This Means for UK Businesses

HMRC has recently issued updated guidance on the salaried member rules for Limited Liability Partnerships (LLPs), focusing specifically on the interpretation of Conditions B and C. These rules are critical for determining whether an LLP member should be taxed as self-employed or treated as an employee for income tax and National Insurance purposes. The latest […]

HMRC Interest Rates Adjusted Following Bank of England Base Rate Cut

On 8 May 2025, the Bank of England reduced its base rate from 4.50% to 4.25%. In response, HM Revenue & Customs (HMRC) has announced corresponding changes to its interest rates for late payments and repayments. Effective Dates and New Rates The revised HMRC interest rates will apply from: 19 May 2025 […]

HMRC Announces Updated Bonus Rates for SAYE Share Option Schemes from 23 May 2025

On 9 May 2025, HM Revenue & Customs (HMRC) confirmed revised bonus and early leaver rates applicable to Save As You Earn (SAYE) employee share option schemes. The updated rates will take effect from 23 May 2025 and apply to all SAYE contracts granted on or after that date. The SAYE scheme, widely referred to […]

New Single Tax on Securities to Replace Stamp Duty

From 2027, a single tax will replace stamp duty and Stamp Duty Reserve Tax (SDRT) on the purchase of UK securities. The changes, which were confirmed in the Government’s Spring 2025 Tax Update, aim to simplify the current system and improve efficiency. How will the new single tax work? The buyer will be […]

Recent Changes in Employment Law 2025

As we start the new year, the following is a round up of the key recent changes in employment law for employers, as well as a reminder of important upcoming changes. UK Minimum Wage to increase in April 2025 Each year, the government sets minimum wage rates based on the recommendations of the […]

Effective Strategies for Business Debt & Bankruptcy

In today’s challenging economic climate, managing business debt has become an everyday concern for many companies. However, if not properly managed, business debt can impact operations and lead to serious financial challenges. When a business faces severe financial distress, insolvency procedures may become necessary. This article will guide you through essential strategies for managing and […]

Managing Expenses & Employee Benefits in the UK

Managing expenses and employee benefits in the UK presents a unique set of challenges for businesses, with requirements to remain compliant with legal obligations while providing competitive benefits packages requires a careful and informed approach. Employers are expected to find ways to control costs without compromising the quality of benefits offered to employees, a balance […]

The Complete UK Guide to a Limited Company

A limited company is a distinct legal entity formed in the UK that is separate from its owners. This means that the company itself is responsible for its debts and liabilities, and its owners (shareholders) have limited liability, meaning their personal assets are protected beyond their investment in the company. From the initial formation and registration process […]

Comprehensive VAT UK Guide for Businesses

Value Added Tax (VAT) is a consumption tax levied on most goods and services in the UK. Businesses that meet certain thresholds are required to register for VAT, charge it on their sales, and pay it on their purchases. For most businesses, VAT is an integral part of financial operations, as they are responsible for […]

Taxoo Digital Marketing

UK Digital Marketing A Comprehensive Guide to Digital Marketing Explore ‘A Comprehensive Guide to Digital Marketing,’ covering SEO, content creation, social media, email marketing, and analytics. Learn strategies to boost online presence, engage audiences, and drive business growth. Read more On Trend Digital Marketing Latest On Taxoo Health and Wellbeing Trending Editors picks More editors […]

Digital Marketing: Essential Guide for Business

Digital marketing has revolutionised the way businesses reach and engage with their target audiences. A robust yet agile digital marketing strategy – encompassing a wide range of online activities, from search engine optimisation and social media marketing to email campaigns and pay-per-click advertising – has become business-critical for companies of all sizes to stay competitive […]

UK Employment Taxes: A Guide for Employers

Employment taxes in the UK encompass a range of different types of taxation and deductions that employers are legally required to manage on behalf of their employees. As an employer or payroll manager, understanding these taxes is essential not only to ensure compliance with UK law but also to avoid potential penalties and financial discrepancies […]

Understanding UK Taxes for Expats and Non-Doms

Expats and non-doms are currently subject to specific tax rules and treatment in the UK. This is because an individual’s obligation to pay personal taxes in the UK is primarily influenced by their tax residency and domicile status. Other significant factors include the location of their assets (where they are situated for tax purposes) and […]

Inheritance, Trusts & Estate Planning: UK Tax Guide

Effective estate planning can help ensure your wealth and assets are distributed according to your wishes while minimising tax liabilities and preventing potential legal disputes. Understanding the specific tax implications and legal requirements surrounding inheritance and trusts is essential to making informed decisions and optimising your estate plan. In this comprehensive guide, we take an […]

Claiming Capital Allowances

Capital allowances in the UK allow businesses to claim tax relief on certain purchases, to reduce tax liability while allowing the business to benefit from the capital investment. Understanding what constitutes qualifying expenditure and what this means in terms of tax savings can make a real difference to your business. However, the capital allowances regime […]