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The salaried members rules are an anti-avoidance measure designed to prevent limited liability partnerships (LLPs) from disguising remuneration paid to members as profit share instead of employment income

If the rules are triggered, the member's earnings are subject to PAYE and national insuranc...

In just over a year the first tranche of sole traders and landlords will be required by law to keep digital records to comply with the requirements of Making Tax Digital for Income Tax (MTD IT)

From April 2026, taxpayers with qualifying trading and property income of £50,000 or more on the 2024-2...

Changes to the company size thresholds from April 2025 will also apply for the purposes of the off-payroll working (OPW) rules

The primary aim of the changes to the company size thresholds was to simplify regulatory requirements and alleviate the administrative burden for smaller businesses. HMRC...

With changes to employer’s National Insurance and the Employment Allowance, now is the time for businesses to review the most tax-efficient mix of salary and dividends for directors

From 6 April 2025 the secondary Class 1 National Insurance threshold reduces from £9,100 to £5,000. At the same tim...

The Government has announced plans to increase the threshold above which income from self-employment must be reported via self assessment

Currently, if you earn over £1,000 from self-employment, or a so-called 'side hustle' such as babysitting or dog walking, you need to report this income to HMR...