What Happens If You Die Intestate? Intestacy Explained
In an ideal world, everyone’s estate would be distributed according to their wishes. However, where someone dies intestate (without making a will), who gets what is determined by the intestacy provisions. The way in which the estate is distributed depends on the value...
Tax implications of writing off a director’s loan
Tax Implications of a Directors Loan Write Off If your company is considering a directors loan write off, it’s crucial to understand the tax consequences from the outset. A directors loan write off is not just an internal bookkeeping decision — HMRC treats it as a...
Correcting VAT Errors: A Guide for Businesses
Getting to Grips with VAT Errors: Why Correction Matters It is surprisingly common for businesses to make VAT errors when completing their VAT returns — whether by mis-entering figures, omitting transactions, or misunderstanding the rules. But once those VAT errors...
VAT Registration: When & How to Register in the UK
When Do You Need to Complete VAT Registration and How to Do It? If you’re running a business in the UK, whether as a sole trader, partnership, or limited company, VAT Registration is a legal requirement once your total taxable turnover in the last 12 months exceeds...
MTD for Landlords | Trueman Brown Accountants
Looking ahead to MTD for landlords Starting from April 2026, the way many landlords report their income and expenses to HMRC will change under the new regime known as MTD for landlords (via the Making Tax Digital for Income Tax Self Assessment rules). Landlords within...
Woodlands Tax Implications & Reliefs 2025/26 | Trueman Brown
Investing in Woodlands – Woodlands Tax Implications of an Unusual Type of Investment Investing in woodland might seem like a picturesque sideline, but the woodlands tax implications are far from simple. If you’re thinking about buying woodland or already own it, it’s...
Starting a business as a sole trader
Starting Business as a Sole Trader: A Complete Guide When starting business as a sole trader in the UK, there are important decisions and obligations to consider. This business structure is one of the simplest ways to begin trading, but it still comes with...
Salary Sacrifice Explained: NIC Savings & Employee Benefits
Using salary sacrifice to offset rising employer NIC costs One of the key strategies businesses should consider is salary sacrifice, especially in the current climate of rising employer National Insurance contributions. With employer NIC rising from 13.8% to 15% from...
National Insurance Deferment Guide for Multiple Jobs
Understanding National Insurance Deferment When You Have Multiple Jobs When you work more than one job, you may find yourself paying more National Insurance contributions than necessary. HMRC has rules in place to allow employees to apply for a National Insurance...
Agricultural Property Relief 2025/26 | Trueman Brown
Agricultural Property Relief – What Landowners Need to Know When it comes to succession planning in the UK farming sector, agricultural property relief (APR) remains a vital tool for reducing inheritance tax (IHT) exposures when farmland or agricultural business...