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HMRC figures suggest that more than 730,000 PAYE refunds went unclaimed last year, with the average repayment worth approximately £855.

PAYE overpayments can arise for a number of reasons. Common examples include being placed on the wrong tax code because HMRC held incorrect income information; c...

An outstanding loan to a director or shareholder from a close company can trigger a tax charge under Section 455 of the Corporation Tax Act 2010.

The director's loan account is generally used to account for temporary withdrawals from the business for the director's personal spending. However if t...

HMRC has updated the self assessment tax return for the tax year just ended (2025-26). The form includes additional boxes on the employment pages (SA102) in relation to close companies.

A company is a 'close company' if it is controlled by five or fewer participators or by any number of participa...

With just one month to go before the first tranche of individuals are required to sign up to MTD for income tax, HMRC is writing to taxpayers it believes might be affected.

From April 2026, sole traders and landlords with qualifying income above £50,000, based on the information included in their...

The new points-based penalties system will apply to all self assessment taxpayers from April 2027, not just those within Making Tax Digital for income tax (MTD IT).

The new rules will apply first to taxpayers mandated to join MTD IT from April 2026 (those with qualifying income over £50,000); the...