Business rates relief has been extended for the retail, hospitality and leisure sector but, with the rate of discount cut from 75% to 40%, many English businesses will face a near doubling of their rates…
What is a Winding Up Petition?
A winding up petition is legal action taken by a creditor ie HM Revenue and Customs (HMRC) to force a company into closure because it cannot pay its debts. Essentially, a winding up petition is…
HMRC and Time to Pay Arrangements: What You Need to Know
HMRC and Time to Pay Arrangements: What You Need to Know When facing financial difficulties, paying taxes on time can be a challenge for individuals, partnerships, and companies alike. On a discretionary basis, His Majesty's…
EPC upgrade work
Rental property has been set a government target to meet an energy performance certificate (EPC) rating of C by 2030. Although new funding in support of this initiative has been announced, the grants will not…
Double hit for employers
The October Budget was not particularly kind to employers, with the cost of employer national insurance contributions (NICs) going up substantially from April 2025, combined with inflation-busting increases to the National Living/Minimum Wage. Employer NICs…
The Autumn Budget – a brave new tax world
Chancellor Rachel Reeves’ first Budget was a significant one in all senses. “…this Budget delivers a large, sustained increase in spending, taxation, and borrowing.” So said the Office for Budget Responsibility (OBR) in the first…
First aid for ailing businesses: let us help you!
Sadly, no matter where we are in the economic cycle, there are businesses which find themselves in distress. Given higher interest rates, increasing costs all round, not to mention the ever-increasing tax burden, it’s not…
Making way for E-invoicing
The government wants businesses to make more use of electronic invoicing to combat VAT fraud and enhance tax collection. E-invoicing is where invoices are created, sent, received and processed in a digital format, with the…
How to raise £10,000,000,000
With a ‘black hole’ of £22 billion to fill, there are plenty of groups giving Rachel Reeves advice. The Fabian Society published a report on taxation on August Bank Holiday Monday. While their main audience…
Capital gains tax receipts
Raising tax rates is a traditional government strategy to increase tax receipts for HMRC, but this may not be the case for capital gains tax (CGT). This is because taxpayers generally have more control over…