Employees Benefit Trusts Tax Scheme: 2025 Rules Explained
What you need to know about the Employees Benefit Trusts tax scheme The Employees Benefit Trusts tax scheme (EBTs) has been at the centre of some high-profile disputes. Many employers have used EBTs to pay staff via trust-based arrangements — often avoiding immediate...
“Help. I Am Going To File My Accounts Late With Companies House!”
Local accountants and tax advisers, Trueman Brown, advise limited company owners what they can do if they are about to file their accounts late at Companies House. One common theme was here about from the directors of PRIVATE limited companies is that, for whatever...
VAT Flat Rate Scheme Explained: 2025 Guide for Businesses
Have you overpaid under the VAT flat rate scheme? Many small businesses consider the VAT flat rate scheme to simplify their VAT accounting: under it, you pay a fixed percentage of your VAT-inclusive turnover to HMRC rather than tracking input VAT on purchases. But...
Higher-Rate Taxpayers: Self Assessment Rules & Reliefs
Should higher rate taxpayers file a self assessment return? If you are among the higher-rate taxpayers, you may assume that all your tax affairs are handled automatically under PAYE. However, many higher-rate taxpayers are required to file a self assessment return —...
Hire vs Purchase Capital Assets UK: Tax and Strategy Guide
Hire vs Purchase Capital Assets UK: What’s Best for Your Business? When it comes to acquiring equipment, vehicles, or machinery, UK businesses often face a critical decision: hire vs purchase capital assets UK. The right choice depends on your cash flow, tax position,...
Construction Industry Scheme Guide For Contractors
An Introduction to the Construction Industry Scheme If you work in the building and contracting sector, you’ll almost certainly come across the construction industry scheme (CIS). This set of rules governs how tax must be deducted from payments made by contractors to...
Advise for married couples on Buy-To-Lets
Local accountants and tax advisers, Trueman Brown, advise married couples on the purchase of buy-to-let properties. Recently, we received a telephone call from a couple who required advice on their buy-to-let holdings. Upon reviewing the couple’s last few tax returns...
Small business still suffering from late payments
Local Accountants and tax advisers, Trueman Brown, warn that smaller businesses are still having problems getting paid by larger companies. Most small businesses know the feeling – they perform their duties for larger companies and then have to wait to be paid. The...
What Is a Pool Car? HMRC Rules Explained 2025/26
Businesses Warned: What Is a Pool Car? Avoid unexpected tax charges – learn the 2025/26 HMRC rules for Pool Cars and keep your business compliant. Local accountants and tax advisers, Trueman Brown, are reminding employers of the strict HMRC rules around what...
Employers, have you completed and filed the Form P11D?
Local accountants and tax advisers, Trueman Brown, warn employers that the due date for filing the Form P11D is fast approaching. Form P11D Deadline The deadline for employers submitting the Form P11D is approaching fast. Employers must : Submit the Form P11D to HMRC...