Practical guidance from Makesworth’s chartered accountants to help you make informed financial decisions.
Understanding Self Assessment Registration If you’re earning income outside of PAYE — like from self-employment, property letting, or side hustles…
Introduction Umbrella companies are often used by recruitment agencies to pay temporary or contract workers. While many operate legitimately, a…
What Is a Simple Assessment? HMRC issues a Simple Assessment to taxpayers whose tax affairs are straightforward but who still…
When Do You Need to Register? A business must register for VAT once its taxable turnover goes above the registration…
What’s Changed? From 1 September 2025, HMRC introduced new rules for claiming higher or additional rate tax relief on personal…
Why Your Tax Code Matters Your tax code plays a key role in the PAYE (Pay As You Earn) system.…
Securing Your State Pension: How Much Salary Should a Company Director Pay Themselves? Running a personal or family-owned company gives…
What is a VAT Invoice? A VAT invoice is a document issued by a VAT-registered business that contains all details…
What Changed from April 2024? From 6 April 2024, self-employed individuals are no longer required to pay Class 2 National…
New IHT Rules for Unused Pension Benefits from April 2027 Overview From 6 April 2027, inheritance tax (IHT) will apply…
Tax Treatment of Major Repairs on Rental Properties Managing a rental property often involves tackling major repair jobs — from…
Current Reliefs: No Limit in Place Right now, there’s no cap on how much agricultural property relief (APR) and business…
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