As Christmas approaches, many construction business owners want to thank their loyal customers and hardworking staff with festive gifts. But before you start wrapping those hampers, make sure you understand the VAT rules. From the £50 gift limit to issuing tax certificates, knowing what you can and can’t reclaim will help you stay compliant — and keep your generosity tax-efficient this Christmas.

Seven actionable, accounting‑led steps to strengthen short‑term liquidity for small businesses in 2025, including a 13‑week cash forecast, receivables automation, supplier negotiation and sensible short‑term finance use

You’ve taken on a youngster as a general assistant for your business. The role includes making local deliveries for which your firm provides a motorbike. This could trigger unexpected tax and NI charges. What steps can you take to avoid them? Employer-provided assets The private use by a director or employee of an asset provided by their employer usually results in an income tax charge on a benefit in kind for the individual and a Class 1A NI bill for the employer. This appli

Understanding the UK tax system is essential for anyone running a business or managing personal finances. The system can seem complex, but with clear information and practical steps, it becomes manageable. I will guide you through the key elements of the UK tax system, helping you make informed decisions and avoid common pitfalls. Understanding the UK Tax System Guide The UK tax system is structured around different types of taxes, each with specific rules and rates. These in

Understanding financial concepts is essential for making informed decisions that affect your business and personal finances. One of the most important concepts to grasp is financial interest. It plays a crucial role in loans, investments, savings, and overall financial planning. In this article, I will share key insights about financial interest, explaining its significance and practical applications. This knowledge will help you manage your finances more effectively and make

Flipping homes can be profitable, but tax rules may catch you out. Private Residence Relief (PRR) exempts gains from Capital Gains Tax if the property was your genuine main home. However, if your intent was to sell quickly for profit, PRR won’t apply and income tax may be due. Living in the property isn’t enough—document your reasons for buying, like proximity to work or personal needs, to support your claim. Intent matters more than duration.