Core UK Taxes: Income, NI, VAT & Corp Tax
The UK tax system is structured around a number of national taxes that provide the foundation for government revenue. For individuals and businesses, understanding how these taxes operate is central to meeting compliance obligations and managing financial affairs efficiently. Four of the most significant taxes are income tax, national insurance, value added tax (VAT), and […]
VAT (UK) 2025: Rates, Registration, Returns & Penalties
What this article is about: This guide explains UK VAT from an employer and finance lead perspective, covering how VAT works, when to register and deregister, rates and schemes, invoicing and tax points, Making Tax Digital, cross-border rules, penalties (current post-Jan 2023 regime), and practical compliance controls. It reflects the £90,000 registration threshold (from 1 […]
Pay Corporation Tax: A Step-by-Step Guide
Timely, accurate payment of Corporation Tax is a core compliance duty for UK companies. Directors and finance leads are responsible for ensuring the right amount is calculated, cash-flowed, and paid by the correct deadline using the correct reference. Getting this right avoids interest costs, protects governance standards, and keeps HMRC interactions straightforward. What this article […]
Step-by-Step: Register for Corporation Tax
New UK companies must register for Corporation Tax when they become active. HMRC treats a company as active when it starts doing business activities such as buying or selling goods or services, advertising, employing staff, renting property, earning bank interest or managing investments. Registration is not the same as incorporation. Companies House creates the company, […]
Corporation Tax in the UK: A Guide for Businesses
Compliance with UK corporation tax regulations helps businesses optimise financial strategies while avoiding penalties and legal issues. The UK’s tax landscape is characterised by a range of reliefs, incentives, and compliance requirements that businesses must navigate to minimise tax liabilities and avoid penalties. While the tax rates and rules can seem daunting, understanding the underlying […]
CT600 Guide: UK Company Tax Return
What this article is about: This guide explains the CT600 company tax return, which every UK limited company within the charge to Corporation Tax must file. It covers what the CT600 is, who needs to complete it, deadlines, penalties, allowances and reliefs, and how to stay compliant with HMRC. Section A: Understanding the CT600 […]
National Insurance UK: Full Guide 2025/26
National Insurance (NI) is a system of contributions paid by workers and employers in the UK to fund specific state benefits. These include the State Pension, statutory sick pay, maternity pay, and other social security benefits. Unlike income tax, which is used for general government spending, NI specifically supports the welfare and social protection structure. […]
Income Tax Guide for UK Companies & Individuals
Understanding income tax is essential for anyone earning or managing money in the UK, whether as an individual, sole trader, or business owner. The UK’s income tax system is broad and complex, with various rules, rates, and reliefs depending on how income is earned and who is receiving it. This comprehensive guide provides a clear […]
Guide to Paying Corporation Tax in the UK
Corporation tax is a tax levied on the profits of companies operating in the UK. It’s a fundamental component of the UK tax system and a significant source of revenue for the government. Companies, including limited companies, foreign companies with UK branches, and certain unincorporated associations, are liable to pay corporation tax on their profits. Understanding how corporation tax works, including the […]
What is Input VAT & Output VAT?
VAT registered companies must meet a number of obligations, including calculating, reporting and paying VAT liability on a regular basis and retaining specific records. If the taxable turnover of your business for the last 12 months by the end of any month was over £85,000, (known as the registration threshold for Value Added Tax), you […]
Vat Return Deadline & Payment Dates
VAT registered companies in the UK are required to submit VAT returns and make VAT payments on time. Failure to meet the VAT deadline can result in fines and interest being charged on the outstanding amount. Vat payment dates & VAT return deadlines As a general rule, the VAT deadline for both returns […]
Corporation Tax Payment Deadline
Each year limited companies are required to pay corporation tax to HMRC on their profits and file a company tax return (CT600). It’s important to check when your corporation tax is due as late payment can lead to penalties from HMRC. When is your corporation tax due? The corporation tax payment deadline for […]
How to Deregister for VAT
In certain circumstances, companies may no longer eligible to be VAT registered, or in others, the company may be looking to voluntarily cancel its VAT registration. This guide looks at the process to deregister for VAT, on both a compulsory and voluntary basis, including the circumstances in which you must or can ask HMRC to […]
Reverse VAT Charge Guide 2023
Aimed at tackling fraud in the construction industry, the reverse charge VAT rules mean that most subcontractors and contractors must now change the way in which they charge and account for VAT. The following guide outlines how the new VAT reverse charge works, with key compliance advice for VAT-registered suppliers and buyers. What is […]
How to Claim Terminal Loss Relief
If a company is operating at a loss, the difficult decision may need to be taken to close operations permanently. Still, even though the business will no longer be trading, it is important not to miss out on valuable tax relief that can often be overlooked. When it comes to the complexities of tax relief […]
Corporation Tax & Trading Loss
If your company or business makes a loss from trading, the sale or other disposal of a capital asset, or on income from property, and it is liable to pay Corporation Tax, relief for corporation tax losses may be available. Tax relief for corporation tax losses is obtained by offsetting the loss against other profits […]
VAT Cash Accounting Explained
VAT cash accounting is one of a number of ways VAT registered companies can calculate their VAT liability. The VAT cash accounting scheme follows the same principles as cash basis accounting. It means businesses pay VAT on sales when they have received payment for the sale, and can only reclaim VAT once payment has been […]
How To Register For VAT (VAT Registration FAQs)
Whether you are starting up a new business, running an existing company or taking over a different organisation, you will need to ensure you are operating within the rules for VAT. If your business has or is expected to have a turnover above the VAT threshold, you will need to register for VAT using HMRC’s […]