Reclaiming VAT on taxi and ride-hailing fares
Changes announced in the Autumn Budget have removed the use of a niche VAT scheme known as the Tour Operators Margin Scheme (TOMS) for private hire vehicle operators from January 2026. TOMS was originally designed for tour operators selling travel packages. However, some large ride-hailing firms had used it to reduce their VAT liability by […]
New legal duty for landlords under the renters’ rights act
Landlords must now comply with an important new legal requirement introduced under the Renters’ Rights Act, which brings significant reform to the private rented sector in England. The government has published an official information sheet that explains the changes and sets out the new rights available to tenants starting from 1 May 2026. Under the […]
Beware Winter Fuel Payment scams
Pensioners are being urged to stay vigilant for any Winter Fuel Payment scams. HMRC is starting to recover Winter Fuel Payments issued for winter 2025 from those earning over £35,000 a year. While the process will affect nearly two million people, most will see the repayment handled automatically through adjustments to their PAYE tax code […]
Hedging against rising costs
Rising prices remain a concern for many UK business owners, particularly where energy, materials, labour and finance costs are unpredictable. While it is rarely possible to eliminate cost pressures entirely, a number of practical steps can reduce exposure and provide greater stability when planning ahead. One of the simplest strategies is to review supplier arrangements […]
Filing obligations for private limited companies
Those responsible for the accounts and tax compliance of private limited companies must ensure they are fully aware of the relevant obligations and statutory deadlines. Following the end of each financial year, a private limited company is required to prepare full annual accounts and submit a Company Tax Return. The deadline for filing the first […]
Tax Diary May/June 2026
1 May 2026 – Due date for corporation tax due for the year ended 30 July 2025. 19 May 2026 – PAYE and NIC deductions due for month ended 5 May 2026. (If you pay your tax electronically the due date is 22 May 2026). 19 May 2026 – Filing deadline for the CIS300 monthly […]
New support measures to allow affordable debt repayment
The government has announced new support measures to allow affordable debt repayment for government debt. The new measures set out a clearer and more practical approach to helping individuals and businesses manage what they owe. Announced during Debt Awareness Week 2026, the plans aim to ensure repayments are realistic, tailored and, crucially, affordable. The 2026–2030 […]
Action to reduce cost of living pressures
The Chancellor has set out a package of measures aimed at reducing cost of living pressures for households and at the same time strengthening the UK’s longer-term economic resilience. The announcement focuses on tackling rising prices, improving energy security and ensuring markets work fairly for consumers. A key element is the introduction of an anti-profiteering […]
Managing stock turnover
Stock turnover management is one of the most important drivers of business profitability, cash flow strength and resilience during periods of rising costs. Stock represents cash that has been converted into goods, and if those goods are not sold promptly the business can experience avoidable financial pressure. Slow moving stock ties up working capital that […]
VAT recovery on car leasing
The VAT treatment of car leasing is an important consideration for businesses that incurs VAT on these costs. In general, leasing companies are able to recover the VAT incurred on the purchase of cars, provided the vehicles are leased out at a commercial rate. For businesses leasing a car, however, the position is more restrictive. […]
