HMRC has launched an improved online service to make it easier for individuals to register for self-assessment. Anyone who needs to submit a tax return for the first time for the 2025-26 tax year should notify HMRC by 5 October 2026 to avoid a potential penalty.The new service is available through a Personal Tax Account…
Read more
When can a trading loss generate a tax refund
Making a trading loss whilst not ideal can sometimes generate a tax refund. If you are a self-employed individual or a member of a trading partnerships, a trading loss can potentially be set against other income or capital gains. This can reduce the amount of tax payable and, where tax has already been paid, may…
Read more
Are customers borrowing from you?
When a customer takes 60 or 90 days to pay an invoice that should have been settled in 30 days, there is another way of looking at the transaction.You are effectively providing the customer with finance, usually without charging them for it.Late payment remains a significant problem for smaller businesses, although the latest Government statistics…
Read more
Could better broadband change your business?
For many businesses, broadband has gradually become as important as electricity. Cloud accounting, video meetings, online backups, customer management systems and increasingly artificial intelligence applications all depend on reliable connectivity.The Government's latest Project Gigabit progress report, published on 22 September, says gigabit-capable broadband is now available to more than 88% of UK homes and businesses.…
Read more