It’s not often we ask directors to personally fund costs of legal services following the issue of a winding up petition, but it is a necessary move given s.127(1) of the Insolvency Act 1986. For…

It’s not often we ask directors to personally fund costs of legal services following the issue of a winding up petition, but it is a necessary move given s.127(1) of the Insolvency Act 1986. For…
Identity verification is being introduced for directors, people with significant control (PSC) and those who file at Companies House. Verification is currently voluntary, but will be made mandatory from this autumn. From autumn 2025, mandatory…
The start of the new tax year warrants as much planning as the end of the old tax year. While the end of the tax year on 5 April is a major focus of tax…
Starting with the 2025/26 tax year, directors of close companies (owner-managed companies) will need to separate the dividend income received from their companies. This change will have an impact on almost 900,000 directors. In very…
Thresholds defining company sizes have not changed since 2016, but revised thresholds are now set to be introduced from 6 April 2025. Companies House intends to roll out their new identity verification requirements for directors…
With the dividend allowance now cut to just £500, the number of taxpayers paying tax on dividend income for 2024/25 is expected to be double what it was three years ago. Previously set at £2,000,…
New calculations issued alongside the Spring Budget show just how higher rate taxpaying status is becoming ever more common. The Office for Budget Responsibility (OBR) received plenty of attention leading up to the Budget. It…
Perhaps not as widely known as the much publicised changes to company law is the fact that due to an increase in charges levied by Companies House, fees associated with incorporating and maintaining a company…
There’s no respite for HMRC with inheritance tax (IHT) accounts, undeclared dividend income and gains from share disposals to scrutinise. HMRC is currently busy with several ongoing checks. They are looking at IHT accounts, targeting…
New HMRC statistics have shed some light on how many companies are affected by the recent hike in corporation tax rates. Just over 1.5 million companies paid corporation tax for the financial year to 31…