VAT Registration Waiver 2025/26 – HMRC Rules Explained
VAT Registration and Exceptions – Key Summary 1. Registration Requirement Threshold: VAT registration is compulsory when taxable turnover exceeds £90,000 in any 12-month rolling period, or is expected to exceed that amount in the next 30 days alone. Deadline:...
CIS Gross Payment Status Guide 2025 | Trueman Brown
Understanding CIS Gross Payment Status: A Guide for UK Subcontractors If you operate in the construction industry, then understanding CIS gross payment status is essential. The Construction Industry Scheme (CIS) sets out how payments to subcontractors should be...
Should You Withdraw Your Pension Before the IHT Changes?
Should you withdraw your pension ahead of the pension IHT changes? With the recent announcements around pension IHT changes, many pension savers are wondering whether they should withdraw their pension to avoid a future inheritance tax charge. The short answer is: not...
PRE-TRADING LOAN Rules: Tax Relief for Start-Up Businesses
Understanding PRE-TRADING LOAN Rules – Sole Trader vs Company Tax Relief When starting a new business, it’s common to take out a loan to cover early expenses — perhaps to buy initial stock, pay rent or secure a deposit. However, how and when interest paid on...
VAT Payback and Clawback Rules Explained | Trueman Brown
Understanding VAT Payback and Clawback Rules: What Businesses Need to Know Even the best-laid business plans can change, and when they do, your VAT position might change too. The VAT payback and clawback rules are designed to reflect this reality. They ensure that VAT...
Company Cash Management and Tax Planning | Trueman Brown
Company Cash Management and Tax Planning: How to Make the Most of Surplus Business Funds In today’s uncertain economy, some businesses have managed to build up healthy cash reserves — often more than they need for day-to-day operations. While this is a good position...
Director’s National Insurance Contributions 2025/26
Calculating a Director’s National Insurance Contributions (2025/26) When it comes to director’s National Insurance contributions, the rules differ from those for regular employees. While employees’ NICs are calculated based on their pay intervals (weekly or monthly),...
Register For Self-Assessment | Trueman Brown
Register for Self-Assessment: What You Need to Know for 2024/25 If you need to register for Self-Assessment and need to submit a tax return for the 2024/25 tax year, it’s vital to act early. You must register before 5 October 2025 to avoid penalties and to ensure HMRC...
New Evidence Rules for Personal Pension Relief in 2025
New Evidence Requirements for PERSONAL PENSION RELIEF From 1 September 2025, HMRC introduced new rules that affect how individuals claim PERSONAL PENSION RELIEF. Previously, higher or additional rate taxpayers could secure relief through their tax code without...
Spotting Fraud in Umbrella Companies | Trueman Brown
Spotting the Signs of Fraud in Umbrella Companies Umbrella companies play an important role in the recruitment supply chain, offering a way for temporary workers to receive payment through PAYE. However, not all umbrella companies are compliant, and umbrella company...