Benefits in kind are non cash perks that employers provide to employees in addition to their regular pay. Although these benefits are not paid in money, they still have a taxable value. Common examples include company cars, private medical insurance, fuel benefits, and employer-provided accommodation. Because these perks form part of an employee’s overall reward […]
The UK government has introduced a new property tax known as the Mansion Tax (officially the High Value Council Tax Surcharge, or HVCTS), set to affect high-value residential properties worth £2 million or more starting April 2028. Proposed in the Autumn Budget 2025, this tax will be based on valuations conducted by the Valuation Office
Benefits in Kind (BiKs) are extras that employers provide to staff in addition to their wages. These benefits often have a tax cost. Common examples include company cars, private medical cover, and other workplace perks. Many benefits are reported to HMRC after the tax year ends. This can lead to mistakes and unexpected tax bills
Identity verification is now a major requirement for all UK company directors and anyone involved with company filings. These new rules help make sure every business is linked to real, verified people, which protects companies from fraud and keeps the Companies House register accurate and secure. To complete verification, directors must provide the correct ID
Managing finances can be challenging for contractors and subcontractors and contractors who handle multiple projects, fluctuating payments, and tight deadlines. From managing budgets to ensuring timely payments, financial organisation plays a crucial role in keeping construction projects on track. Choosing the right accounting solution is essential for staying efficient and profitable. If you prefer full
A year-end close is the process of finalizing your financial records at the end of your accounting year. It involves reviewing all income, expenses, assets, and liabilities to ensure your books are accurate and complete.For subcontractors, finishing a year-end close is important. It helps you keep taxes on track, avoid penalties, and keep your financial
UK contractors can significantly reduce tax liability and reinvest in future growth by taking advantage of R&D (Research & Development) tax credits. Yet many construction and contracting firms still miss out often because they are unsure which projects qualify or how to prepare a strong claim. R&D tax credits are there to encourage innovation. Suppose
Buying property in the UK doesn’t just mean paying the purchase price, Stamp Duty Land Tax (SDLT) is one of the biggest extra costs. The good news is that traders and investors can reduce this expense. This article explains what a stamp duty relief claim is, how it applies to probate property purchases, and how
