Umbrella companies offer an easy way for freelancers and contractors to get paid without running a limited company. They handle payroll and tax via PAYE, ensuring compliance and
31 January deadline met by more than 11.5 million people
Over 11.5 million people met the 31 January 2025 self-assessment deadline, but 1.1 million taxpayers missed it. If you’re one of them, expect a £100 penalty. Learn about late fees
When is a hobby a business
Not sure if your hobby is actually a taxable trade? HMRC uses ‘badges of trade’ to assess whether an activity is a business. Factors like profit motive, transaction frequency, and
Small duty cuts on draft products from 1 February 2025
From 1 February 2025, alcohol duty on draught pints has been cut for the first time in a decade, saving drinkers 1p per pint. Small breweries also benefit from tax relief. However,
Tax Diary March/April 2025
1 March 2025 – Due date for Corporation Tax due for the year ended 31 May 2024.
2 March 2025 – Self-Assessment tax for 2023-24 paid after this date will incur a 5% surcharge