Many company directors assume that if they haven't taken a salary, dividends, or benefits from their company, there is little or nothing to report on their self-assessment tax return. However, HMRC has clarified that from the 2025/26 tax year, directors who are already required to file a self-assessment return must disclose details of their directorships, even where they have received no income from the company. This change could catch many business owners and directors of do

As a business owner, you've probably heard that some expenses can be paid by your company without creating a personal tax charge. However, knowing exactly which benefits qualify and how valuable they can be is another matter entirely. Illustrating financial growth, a person holds coins and a thriving tree, symbolizing the benefits of effective accounting and investment strategies. While a company can technically pay for almost anything, many purchases that primarily benefit t

A detailed guide explaining how tips are taxed in the UK for 2025/26, including the differences between cash tips, employer-controlled tips, and tronc systems, as well as how income tax and National Insurance apply, rules on declaring tips to HMRC, and key updates from the Employment (Allocation of Tips) Act 2023.