Practical, plain-English guidance on audit, tax, VAT, accounts and advisory — written by our chartered accountants.
1224 articles · page 4 of 102
Form IHT400 is the full inheritance tax account that personal representatives send to HMRC when someone dies and the estate either owes inheritance tax or does not qualify as an "excepted estate".…
Read articleUK corporation tax rates for the financial year starting 1 April 2026 are unchanged from the three previous years. The main rate is 25% on profits over £250,000 , and the small profits rate is 19%…
Read articleEvery company director and person with significant control (PSC) must now verify their identity with Companies House. The requirement became law on 18 November 2025 and started a 12-month…
Read articleTurnover is the total income a business earns from selling its goods and services in a period, before any costs are deducted. It is the "top line" of the profit and loss account. UK company law…
Read articleYou pay your Self Assessment tax to HMRC by 31 January after the end of the tax year, and by 31 July for any second payment on account. For 2025/26 the balancing payment, plus the first payment on…
Read articleIncome tax is the tax charged on what an individual earns or receives in a tax year: wages, self-employed profits, pensions, rental profits, savings interest, dividends and some state benefits.…
Read articlePension tax relief gives you back the income tax on money you pay into a registered pension, at your highest rate. In a relief at source scheme, basic rate relief of 20% is added automatically, so…
Read articleIn England, Wales and Northern Ireland you start paying 40% income tax on income above £50,270 in the 2026/27 tax year, if you have the standard £12,570 personal allowance. The 40% higher rate…
Read articleA VAT bill is due one calendar month and 7 days after the end of the VAT period. For a quarter ending 30 September, that is 7 November. The payment must reach HMRC by that date, even if it falls…
Read articleA cash flow statement shows how the cash and cash equivalents of a business changed over a period, split into three headings: operating , investing and financing activities. Most UK companies that…
Read articleThe UK does not issue a single number called a "tax identification number". When a form asks a UK-resident individual for a TIN, the answer is usually your National Insurance number . HMRC's…
Read articleForm DS01 is the application to Companies House for voluntary strike off: closing a solvent, inactive limited company by removing it from the register. It costs £13 online or £18 on paper . A…
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