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The increase in employer National Insurance has led to an increase in the cost of employing people in the UK. As of 6 April 2025, the secondary rate for Class 1 employer National Insurance is 15%, as against 13.8% before the rise. In addition, the Secondary Threshold was lowered from

The 2026/27 tax year runs from 6 April 2026 to 5 April 2027. For any expense, directors should ask why it was incurred, whether it was for business purposes, and whether HMRC’s rules and limits allow it.

Receiving a letter from HMRC saying it wants to check your tax affairs can be worrying. It is natural to assume something serious has gone wrong. However, an HMRC tax investigation letter does not automatically mean you have done anything wrong, let alone deliberately.

Most business owners put off changing accountants because they expect an awkward conversation and a pile of paperwork. In practice, switching accountants in the UK takes three steps, and your new accountant does most of the work.

Making Tax Digital for Income Tax could apply to you from 6 April 2027 if you are a sole trader, a landlord, or both, with qualifying income of over £30,000 in the 2025/26 tax year.

Hiring your first employee is a big step in growing any small business. You will need to register as an employer with HMRC, run payroll, set up a workplace pension and issue compliant payslips.

Year-end accounts can look complicated when they are full of terms such as balance sheet, accruals, liabilities, retained profit and depreciation. You do not need to be an accountant to understand what your company’s accounts are telling you.

Paying yourself as a company director is not the same as moving money from the company account to your own. How you take the money decides how much tax is paid, by you and by the company, and how much you actually keep.

If you are a director or a person with significant control (PSC) of a UK company, verifying your identity with Companies House is now a legal requirement. The rules took effect on 18 November 2025. That date was the start of a 12-month transition period, not a deadline. The transition

Making Tax Digital for Income Tax is now a matter that landlords must plan for and has already been implemented for those whose qualifying income exceeds the amount of ￡50,000, with this figure to be reduced to ￡30,000 as of 6 April 2027.

In the case of construction companies in the UK, cash flow can be as critical as the profits earned by those construction businesses. And here lies the importance of CIS Gross Payment Status.

Construction workers, such as contractors and subcontractors, might find it easy to work with an umbrella company because of its straightforward payment method and its recruitment process through an agent. However, changes in the circumstances of the worker may make them think whether leaving an umbrella company will be better

The fee of an accountant is only one aspect of hiring one. It is very important to understand what you are paying for, what is covered in the fee, and what additional fees may apply.

Late payments are amongst the major irritations for businesses operating in the UK. Even after doing all the necessary things, from completing the job, raising the bill, to fulfilling all the responsibilities, the money does not arrive in the bank account.

Being Self-Employed can be a fascinating experience, especially when you are starting as a freelancer, running a small business, or a sole proprietor. However, along with finding clients and earning, you also have several tax duties to complete.

Hiring an accountant should help with handling various deadlines related to tax and business. But how does it work when an accountant fails to meet an essential deadline for the submission of a document, and HMRC or Companies House imposes a penalty?

As a CIS subcontractor working in the UK construction industry, you might be paying some tax from your payments each year. Such payments are usually considered advance payments towards your Income Tax and National Insurance. Once your tax liability is determined, you will notice that you have actually paid more

If you come up against the need to do your Self-Assessment tax return for the tax year 2025/26, then filing your self-assessment early will help you beat the January deadline. According to HMRC, individuals are able to start completing and submitting their Self-Assessment tax return online starting from 6 April

There’s much more involved in running a business than making sales and dealing with day-to-day affairs. Every decision that you make will influence your profits, taxes, cash flow, and the prospects of your company. However, many entrepreneurs find out way too late that their accountant doesn’t give advice; all they

The first Making Tax Digital (MTD) for Income Tax quarterly deadline is fast approaching. Income Tax customers have 7 August,2026 as the deadline for submitting their first quarterly update to HM Revenue and Customs (HMRC). If you are required to submit a quarterly update to HMRC, it is important not

Most courier and delivery drivers in London are self-employed, which means they have to manage their income records, tax payments, and HMRC requirements on their own. Many delivery drivers find it confusing to pay the tax, keep accurate records of income as well as expenses and to meet the HMRC

Receiving an HMRC penalty can be stressful, but it doesn’t always mean that you have to accept it. HMRC always allows you to appeal a penalty if they think there is an error or you had a genuine reason to miss the deadline for paying tax. Although getting a penalty

If you are looking at your phone thinking why your accountant is not answering your calls then you are not alone in this. “Accountant not responding” is one of the most general issues business owners and individuals complain about their financial advisors particularly when they are involved in filing. No

Making Tax Digital is a deal right now. If you are a trader and a landlord, you have to keep track of your income and expenses and provide its update to HMRC. Making Tax Digital initiative was launched by the UK government to stop traditional paper record-keeping and start digital

For a lot of UK sole traders and other Self Assessment tax payers, 31 July is a date that carries the actual financial weight. It is the deadline for the second payment on account of the tax year. It is a prepayment towards a bill that is not due to

If you work in an umbrella company in the UK, April 2026 brought one of the biggest changes in how umbrella arrangements are policed in years. HMRC has changed the rules on who is responsible when PAY As You Earn (PAYE) tax and National Insurance Contributions (NICs) go missing from

The MTD quarterly update deadline of 7 August 2026 is quickly approaching and for a lot of sole traders and landlords across the UK. It is the moment Making Tax Digital for Income Tax (MTD for ITSA) does not just remain a policy on paper but becomes a live obligation.

For directors of UK limited companies, taking the decision on how to take the money out of the business is one of the most crucial annual decisions to get right. The two main paths are a director’s salary paid through PAYE and dividends that are paid out of post tax

Managing payroll correctly is one of the most significant and most heavily operated functions of any London business. Whether you hire two people or two hundred, you need to legally calculate pay correctly and deduct the right amount of Income Tax and National Insurance along with reporting to HMRC in

Switching accountants can feel like a major task specifically when you don’t want to disrupt your business finances or miss any important deadline. A lot of entrepreneurs think that changing accountant is something that only occurs at the end of a financial year or tax period. The good thing is

Receiving a bill you can’t pay in full is stressful but it is a far more common scenario than a lot of people know. Every years millions of individuals and business owners across the UK lag due to Self Assessment or Corporation Tax. The good news is that HMRC would

Every year, millions of tax payers around the United Kingdom are needed to complete Self Assessment tax return. Whether you are self employed or someone with untaxed income from savings and investments, completing HMRC’s filing deadline is not a choice but a legal obligation.

Expert Self Assessment Tax Returns for Hackney Individuals & the Self-Employed! Self Assessment is one of the most essential financial obligations you will go through as a self-employed individual or a higher rate taxpayer in the United Kingdom. Every year, millions of people report their income and calculate their tax

Managing your business in Ilford requires financial clarity and a reliable partner who understands the local landscape. Whether you are a business owner or a growing limited company operating across the UK, having the correct accountant by your side can make a big difference.

Managing your finances efficiently is important when you have a business or need support with personal tax. At Lexarox Accounts, we offer professional accounting along with tax and advisory services customised to the needs of businesses and individuals across Canary Wharf.

When we talk about the laws in the United Kingdom, all companies are required to submit their annual accounts regardless of whether they are trading or otherwise and regardless of the period of registration with Companies House. Non-submission could lead to the imposition of fines, prosecution of yourself and the

Stratford is one of East London’s most strong and rapidly growing commercial districts. Located in the London Borough of Newham, it has gone through innovative changes since the 2012 Olympic Games. The place has attracted businesses from independent retailers and restaurants to construction companies and tech start-ups that are situated

VAT is one of the most complicated sectors of the UK taxation. For organisations in Hackney and across London, submitting the incorrect VAT implies expensive penalties and missed reclaims along with unwanted attention from HMRC. Whether you are a little firm managing multiple VAT rates or an e-commerce retailer selling

Managing a business in East London is an overwhelming task as it comes with a heap of financial records and receipts along with payroll obligations and compliance deadlines. Whether you are a business owner in Hackney or a growing SME in Canary Wharf, keeping a steady growth and staying at

Value Added Tax is one of the most complicated areas of the UK Tax System and for businesses operating in London, getting it incorrect can be expensive. Whether you have just reached the VAT registration deadline or you are struggling with quarterly returns and MTD compliance, having a VAT accountant