This newsletter looks at how VAT recovery on an asset alters with a change in its use. Suppose that a business purchased an asset (e.g., a building) for a project expecting to use it in its taxable business, and recovers all the VAT on the purchase. However,...
Running a small business in the UK comes with a great deal of financial responsibility, and understanding your tax obligations is one of the most important parts of staying compliant. Tax can feel overwhelming, but with the right guidance, it becomes far more...
Managing a rental property comes with a great deal of financial responsibility. From tracking rental income and maintenance costs to ensuring you remain compliant with HMRC, staying on top of your finances is essential. Yet for many landlords, the day-to-day demands...
Ceasing to trade does not automatically end a company’s legal or tax obligations. Where funds remain in the business, directors and shareholders should carefully consider how those monies are extracted in the most tax-efficient way. What Does ‘Dormant’ Mean? The...
King Charles III has delivered the 2026 King’s Speech, unveiling a massive slate of bills and regulatory overhauls. From a total crackdown on late business payments to a complete reshuffling of the railways and a vote for 16-year-olds, the legislative roadmap is...
With continued economic pressure affecting many sectors, unpaid customer invoices are becoming an increasing concern for businesses. For businesses taxed on an accrual basis, where income is taxed when invoiced rather than when payment is received — bad debt relief...
