HMRC, or His Majesty’s Revenue and Customs, is the UK tax authority that plays a key role in the operation of the UK tax system. Individuals and companies alike are in contact with this office and must comply with the applicable tax rules. Remember, knowledge of your UK tax obligations is essential to avoid problems…
The beauty industry combines many market segments – these include hairdressing, cosmetology and aesthetic medicine. As the beauty sector grows stronger every year, more and more people choose to leave their full-time jobs to set up their own business. What entrepreneurs need to know if they decide to take this career path In this article…
Every year, as the UK tax season approaches, taxpayers’ inboxes and phones fill up with messages from HMRC. Unfortunately, not all of them are genuine. In 2024 alone, more than 200,000 phishing attempts impersonating HMRC were reported. Fraudsters exploit stress, haste and uncertainty to trick people into clicking fake links or sharing personal details. In…
If you run a business or have income to declare through Self Assessment, it’s worth taking a closer look at which expenses you can claim. Claimed correctly, they can lower your tax bill – but exaggerated or undocumented claims could lead to adjustments, penalties, or awkward questions from HMRC. So how do you recognise the…
While tax law may not be directly relevant to your day-to-day business, it forms an integral part of the operation of any business. In the UK, compliance with HMRC rules requires knowledge of both current legislation and accounting. Good bookkeeping not only guarantees the legitimate operation of a company but also optimises costs and better…
Every entrepreneur must expect routine actions from institutions such as the tax office, with tax audits being a standard procedure that verifies the accuracy of a company’s financial accounts. Contrary to popular opinion, legal actions carried out by the office should not cause concern at all – provided that you keep your tax records in…
Running a business requires the right preparation in terms of both know-how and the tools and technology that support day-to-day operations. Are you wondering how the best office devices can help you succeed? Take a look at our latest article where we discuss devices that support business, management, and corporate workflows. 1. The entrepreneur’s laptop…
For many businesses in the UK, VAT returns are a quarterly obligation. If your VAT quarter ended on 31 August, this means you have until 7 October to submit your VAT return and pay the tax due. It sounds simple, but in practice, one missed deadline or VAT error can result in a penalty or…
Do you earn extra income as a freelancer, rent out a room, or sell online through platforms like Amazon or eBay? If your income from these sources exceeds £1,000 per year, you must register for Self Assessment, which is the UK system of self-assessment tax. This usually applies to people with income outside of PAYE…
Although running a business in an international environment can be challenging, this decision is also our chance to succeed. Many people choose to start a business, hoping to be financially independent and to pursue their own ideas. However, for many newly established entrepreneurs, running a business raises many questions and difficulties, especially regarding the law,…
From 2 April 2025, citizens of the European Union planning to travel to the UK will be required to obtain an Electronic Travel Authorisation (ETA). Applications for an ETA can be submitted from 5 March 2025. An ETA will be required for people who are exempt from the visa requirement or do not have a…
Gaps in social security contributions can have serious consequences for the amount of the future state pension in the UK. People who have not paid National Insurance Contributions (NIC) in the past can pay them voluntarily to increase their future pension. However, it is worth remembering that there are specific deadlines for making such payments….