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Trusts and Income Tax

Trusts and Income Tax

Trustees must manage assets, follow tax rules, and register with HMRC where required. A trust is a legal arrangement in which a trustee, either an individual or a company, is entrusted with managing assets such as land, money, or shares on behalf of others. These...
VAT – digital record keeping

VAT – digital record keeping

HMRC requires businesses to maintain accurate VAT records to ensure correct tax payments. While all businesses must retain general records (such as invoices, bank statements, and receipts), a key requirement under the Making Tax Digital for VAT initiative is keeping...
Rules to protect effects of debanking

Rules to protect effects of debanking

Banks must now give 90 days’ notice before closing accounts, giving customers more time to respond. Since April 2026, new government rules strengthen protections for individuals and small businesses at risk of unfair bank account closures. Under the...
A magical clause does not necessarily nullify employment status

A magical clause does not necessarily nullify employment status

A recent ruling has provided a timely reminder that substance trumps form in employment status disputes, and the mere insertion of a clause does not automatically change the employment status of workers. This case concerns an appeal by BCAL, a company that provides...
Building value in your business

Building value in your business

For many small business owners, the focus is on day-to-day operations. However, building long-term value is just as important, whether your aim is to sell in the future, attract investors, or secure better financing. Focus on profitability and cash flow Strong profits...