Practical, plain-English guidance on audit, tax, VAT, accounts and advisory — written by our chartered accountants.
1224 articles · page 2 of 102
ESG stands for Environmental, Social and Governance . It describes the three groups of non-financial factors that investors, lenders, customers and regulators use to judge how a business affects…
Read articleHMRC refunds overpaid income tax automatically in some cases, but not all. If you are employed or receive a pension and paid too much through PAYE, HMRC normally sends a tax calculation letter (a…
Read articleA UK pensioner can receive £12,570 of taxable income in 2026/27 before paying income tax. That is the same personal allowance as everyone else; there has been no extra age-related allowance since…
Read articleThe UK tax year runs from 6 April to the following 5 April . We are now in the 2026/27 tax year , which started on 6 April 2026 and ends on 5 April 2027 . That is the year for income tax, capital…
Read articleDividend tax for 2026/27 is charged at 10.75% in the basic rate band, 35.75% in the higher rate band and 39.35% in the additional rate band. The first £500 of dividends each year is covered by the…
Read articleThe Statutory Sick Pay rate for 2026/27 is £123.25 a week or 80% of the employee's average weekly earnings, whichever is lower . It has applied since 6 April 2026 , when the flat rate rose from…
Read articleA limited company is a business registered at Companies House that is a separate legal person from the people who own and run it. "Limited" means the owners' liability is limited. In a company…
Read articleAn SA302 is HMRC's tax calculation for one tax year. It summarises your taxable income, the allowances and reliefs given, and the income tax you owe for that year. It is produced when you file a…
Read articleFor 2026/27, employees pay National Insurance at 8% on earnings between £12,570 and £50,270 a year (£242 to £967 a week) and 2% above that. Employers pay 15% on earnings above £5,000 a year (£96 a…
Read articleThe UK VAT registration threshold is £90,000 of taxable turnover. You must register if your taxable turnover for the last 12 months goes over £90,000, or if you expect it to go over £90,000 in the…
Read articleVAT, or Value Added Tax, is a tax on spending. VAT-registered businesses add it to the price of most goods and services they sell. Each business pays HMRC the difference between the VAT it charges…
Read articleTo register as self-employed in the UK, you register for Self Assessment as a sole trader with HMRC. That single online registration also records you for Class 2 National Insurance. You must…
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