Understanding the Tax and National Insurance Treatment of Tips in 2025 The hospitality industry has long navigated the complexities of tips, gratuities, and service charges. With the introduction of the Employment (Allocation of Tips) Act 2023, which came into effect on 1 October 2024, new rules ensure that all tips…

Should Directors Have Employment Contracts? We’ve recently seen another firm of accountants recommending that all directors should have employment contracts. That advice runs contrary to our approach, so let’s break it down and explain why we strongly disagree. Understanding Director Status According to gov.uk, a person appointed to a company…

Company Accounts Thresholds Increasing by 50% from April 2025: What It Means for You The government has announced a significant change to company accounting thresholds, increasing them by 50% from April 2025. This move is designed to reduce the reporting burden on businesses and account for inflation since the last…

High Income Child Benefit Charge will not be reformed We’ve recently seen changes to the High Income Child Benefit Charge from April 2025, which saw an increase to the income level at which you start to lose the entitlement to the benefit and also a higher threshold at which it…

Employer National Insurance Allowance – changes ahead The Employer National Insurance allowance isn’t a new thing – it’s been around for some time but there are changes ahead. Over the years the value of the allowance has changed and currently (tax year 24/25) sits at £5,000 per year. Eligible businesses…

You may remember the fiasco of a few months ago where it was announced by the then Conservative government that the beneficial tax treatment around Double Cab Pick Ups was to be scrapped – with classification of the vehicles for tax as cars rather than vans. A crazy couple of…

Understanding the Changes: ID Verification Requirements under the Economic Crime and Corporate Transparency Act (ECCT) As we move further into 2024, it’s crucial for businesses to stay informed about legislative changes that could impact their operations. One significant piece of legislation that has recently garnered attention is the Economic Crime…

Navigating SDLT Reliefs: Proceed with Caution When it comes to purchasing property, one of the significant costs that individuals and businesses must account for is Stamp Duty Land Tax (SDLT). At Property Tax Advice, we frequently receive inquiries from our clients about the reliefs available to reduce the SDLT payable.…

The ECCTA is part of the government’s response to the need to tackle economic crime in the UK. It received Royal Assent on 26th October 2023. The ECCTA is multifaceted and includes for example, provisions related to crypto assets and new intelligence gathering powers for law enforcement amongst other things, but…