From the library

Tax

Corporation tax, self assessment, VAT and Making Tax Digital, written for owner-managed businesses rather than for other accountants. Most of what reduces a tax bill only works before the year end, so the emphasis here is on what to do while there is still time.

May 19, 2025

HMRC Time to Pay: spreading a tax bill you cannot pay

If you cannot pay a tax bill in full, HMRC may let you spread it over monthly instalments. Who qualifies, the online limits, interest and how to apply.

January 27, 2025

Tax-efficient benefits to offer your employees

Some employee benefits cost the business less and are worth more to staff because they are tax-free or taxed lightly. Here are the main ones for 2026/27 and the rules that apply.

May 26, 2025

Timing payments and receipts for tax: what works and what does not

When you pay or receive money around a year end can change when tax is due, but only within the rules. The dos and don'ts for companies and sole traders, with a worked example.

September 1, 2025

How PAYE works: a plain guide for employers

PAYE is how employers collect income tax and National Insurance from pay and pass it to HMRC. This guide covers registration, reporting, payment dates and a worked example for 2026/27.

September 8, 2025

Illegal dividends: are you paying more than your company can?

A dividend paid without enough distributable profits is unlawful. Here is how it happens, what the consequences are for directors and shareholders, and how to make sure your dividends are valid.

September 22, 2025

Employee expenses and benefits: what to report and when

Which employee expenses and benefits need reporting to HMRC, the P11D deadlines, Class 1A National Insurance, and the move to mandatory payrolling of benefits from April 2027.

September 29, 2025

Long service awards: how to reward loyal staff tax free

A long service award can be given tax and National Insurance free if it meets four conditions. Here is how the rules work, with a worked example and the common mistakes to avoid.

October 13, 2025

What is section 455 tax on directors' loans

Section 455 tax is a charge on companies whose directors or shareholders owe them money at the year end. Here is how it works, the 2026 rate rise and how to avoid it.

February 17, 2025

Five things to set up before you die

A will, lasting powers of attorney, the right shareholder agreements, up-to-date pension nominations and suitable insurance can save your family and your business a great deal of difficulty.

February 24, 2025

Sole trader or limited company: which structure suits you?

A limited company gives you limited liability and more control over when you take income, but the tax saving is smaller than it used to be. Here is how the two compare for 2026/27.

March 10, 2025

Selling your business: what happens after you exit

Completion is not the end of the story. Earn-outs, deferred payments, warranties and the timing of capital gains tax all carry on after the sale, along with your own plans for the money.

June 9, 2025

What taxes do company directors pay?

A plain guide to the taxes a director of an owner-managed company pays for 2026/27: PAYE on salary, dividend tax, self assessment and the company's corporation tax, with a worked example.

June 23, 2025

Double cab pickups: now taxed as cars, not vans

Double cab pickups are now treated as cars for benefit in kind and capital allowances. Here is what changed in April 2025, who keeps van treatment for now, and what it costs.

June 30, 2025

Corporation tax rates and marginal relief explained

Companies pay corporation tax at 19 percent or 25 percent, with marginal relief in between. Here is how the rates work, how associated companies affect them and when tax is due.

July 14, 2025

Side income and HMRC: online selling, platforms and disclosure

Online platforms now report sellers' income to HMRC, and HMRC uses that data to send letters. Here is when side income is taxable, the £1,000 allowances, and what to do if you have not declared it.

October 27, 2025

Why some expenses are not allowed for tax

Not every cost in your accounts reduces your tax bill. Here is why some expenses are disallowed, the common examples and how it affects the tax you pay.

November 10, 2025

Capital allowances when your business buys equipment

When your business buys equipment, vans or machinery, tax relief comes through capital allowances rather than a straight expense. Here is how the main allowances work in 2026.

November 17, 2025

Employing your spouse in your business

Paying your husband, wife or civil partner for real work in the business can save tax and protect their state pension. The pay must be commercial and properly documented.

November 24, 2025

Car or van: what counts as a van for tax purposes

Whether a vehicle is a car or a van changes the benefit in kind, capital allowances and VAT. Here is how the test works, including the rules for double cab pick-ups.

December 1, 2025

Company mobile phones: how to provide them tax free

One mobile phone per employee can be provided tax free, but only if the contract is in the employer's name. Get the paperwork wrong and the cost becomes taxable pay.

December 8, 2025

Trivial benefits: tax-free staff gifts of up to £50

The trivial benefits exemption lets employers give small gifts to staff free of tax and National Insurance. The conditions are strict, and directors have an annual cap.

December 15, 2025

Employing your children in your business

Paying your children for real work in the business can be tax efficient, but child employment law, fair pay and proper records all matter. Here is how it works.

August 4, 2025

Inheritance tax planning: getting your affairs in order

Inheritance tax can take 40 percent of an estate above the available allowances. With changes to business relief and pensions, now is a good time to check your position and plan ahead.

August 11, 2025

Are staff parties tax free? The £150 rule explained

A staff party is tax free if it is open to all employees and costs £150 a head or less in the tax year. Here is how the limit works, what counts towards it and what happens if you go over.

May 5, 2025

Preparing your business for sale

Preparation for a sale ideally starts two to three years ahead. How to improve value, reduce risk for a buyer and plan the tax, including BADR at 18 percent from April 2026.

October 23, 2026

The Budget on 28 October: what is settled, what is not, and what to do this week

John Healey delivers his first Budget on Wednesday 28 October. Income tax rates, employee National Insurance and VAT are off the table. What is already settled, where change is likely to land, and what is worth doing before the speech.

September 19, 2026

The Employment Allowance, and why most one-person companies cannot claim it

Up to £10,500 off the employer National Insurance bill, unless your only employee paid above £5,000 is a director. That rules out most one-person companies. What the exclusion costs, and what a second employee changes.

October 2, 2026

Payments on account, and why they arise

Two advance payments towards next year's tax bill, each half of last year's liability. Why HMRC asks for them, why the first January is often 150 percent of what you expected, and how to plan for it.

August 27, 2026

MTD for Income Tax: the threshold test people are getting wrong

It is tested on last year's return, it uses gross income rather than profit, and it adds your self-employment and property together. Three details decide whether you are in the regime, and most people get at least one of them wrong.