Is your business eligible to use cash basis accounting?

Cash basis accounting is a simplified method used by sole traders and other unincorporated businesses to work out income and expenses for self-assessment in a straightforward manner.

The cash basis

Making the most of the £1,000 property allowance

The £1,000 property allowance is a helpful for individuals with small amounts of property income. The allowance provides a tax exemption of up to £1,000 a year against gross property income, meaning

Tax breaks for company bikes

Employers can usually provide bicycles and cycling equipment to employees as a tax-free benefit. The Cycle to Work scheme can help employees save tax and National Insurance on the cost of providing

Amending a mistake on your tax return

What happens if you discover a mistake on your tax return? The good news is that errors can usually be corrected, but it is important to take action as soon as possible to avoid paying the wrong

Tax Diary September/October 2026

1 September 2026 – Due date for corporation tax due for the year ended 30 November 2025.

19 September 2026 – PAYE and NIC deductions due for month ended 5 September 2026. (If you pay your tax

Claiming the correct tax relief for work mileage

Employees who use their own vehicle for business journeys may receive Mileage Allowance Payments (MAPs) from their employer. These payments can be made tax-free up to HMRC’s approved amount,

Averaging profits if income fluctuates

Some self-employed individuals experience significant fluctuations in their profits from one year to the next. When this happens, HMRC’s averaging relief may help to regularise tax payments by

Are you paying unnecessary tax on foreign income?

UK taxpayers with income from overseas may not always be aware of the tax rules that apply. Foreign income is defined as any income from outside England, Scotland, Wales and Northern Ireland. The

Budget date announced

The new Chancellor of the Exchequer, John Healey has confirmed, in a video message, that the next UK Budget will take place on Wednesday, 28 October 2026. Details of all the Budget announcements will

Tax relief if replacing tools or equipment

If you pay for replacing or repairing small tools you need for your job, you may be able to claim tax relief from HMRC. Eligible tools include items such as scissors, small hand tools and electric