Since the recent overhaul of the Inheritance Tax (IHT) rules, many people in the UK are wondering if giving away their assets while they are still alive will reduce the final IHT bill. The answer is somewhat complicated. Apart from IHT, which is the tax you pay on death, there is another capital tax, Capital […]
Author Archives: Priya Raja-Motala
06
Oct
Oct
The countdown to Making Tax Digital (‘MTD’) has begun. We are now just over six months from April 2026, when the first group of individuals will be required to comply with MTD. You may recall that we published a blog in April 2025 to help and inform you on this topic. You can revisit this […]
HM Revenue & Customs, Personal Tax, Tax Advice, Tax Planning, Tax Tips
Are you ready for the IHT Overhaul?
03
Oct
Oct
It’s old news now that Rachel Reeves has long had her eyes on inheritance tax (IHT) as an area for reform. The announcements in the last Budget have sharpened the focus by removing reliefs for businesses, including farmers and bringing your pension savings into your Estate when you die. So, are you ready for the […]
01
Oct
Oct
Running a business has never been simple, but the landscape feels more unpredictable than ever. From HMRC’s ongoing upheaval to the upcoming second Budget from the Labour government on 26th November, the pace of change is relentless. It’s not only the major headline reforms that matter. Sometimes, it’s the more subtle changes, like the recent […]
24
Sep
Sep
Customers and businesses alike often shy away from the dreaded words: “price increase.” But as a business owner, you shouldn’t fear doing what’s sometimes necessary. Adjusting your prices is part of running a sustainable and profitable company, and there are several valid reasons why you might need to make that move. There is a right […]
self employed, Tax Tips, VAT, VAT Compliance, VAT Return
Should Your Small Business Voluntarily Register for VAT?
17
Sep
Sep
If you run a small business in the UK, you’ve probably heard about the VAT registration threshold. Currently, if your taxable turnover reaches £90,000, you must register for VAT. But what if you’re under that figure? Should you voluntarily register for VAT? This is a common question for freelancers, sole traders, and small limited companies. […]
Business Tips, HM Revenue & Customs, Personal Tax, Tax Tips
When Is an Asset Business or Personal? HMRC’s View and the Tax Consequences
10
Sep
Sep
Determining if assets or property are used for business or personal purposes can significantly affect taxation levels. HM Revenue and Customs (HMRC) is often sceptical of claims where assets appear capable of private use, from cars to horses, and even motorbikes. The consequences of getting it wrong can be costly. So, let’s clarify when an […]
03
Sep
Sep
We know it’s confusing out there right now. Another day, another story of a possible tax hike. It feels like there’s a new story about rising taxes all the time, some even suggesting that you could soon be taxed on what is the most precious asset for most of us: our home. Truth be told, […]
27
Aug
Aug
The Court of Appeal recently overturned the High Court’s decision, prompting all of us to pay closer attention. All of us may be culpable of withholding the whole truth if we think it will benefit others around us. However, in a business setting, the Court of Appeal redefines the boundaries of honesty for directors. In […]
20
Aug
Aug
The Employment Rights Bill, introduced to Parliament in October 2024, represents one of the most significant shifts in UK employment law in decades. With 28 planned reforms, the Bill will strengthen workplace protections for employees, including a ban on zero-hours contracts, day-one protection against unfair dismissal, extended family leave rights, and reforms to sick pay […]