From 2025, Companies House is rolling out new identity verification requirements for directors, people with significant control (PSCs), and anyone forming or managing a UK company. These changes form part of the Economic Crime and Corporate Transparency Act and are designed to reduce fraud and…
Day: 7 July 2025
Do you have additional income streams?
Side income over £1,000 may mean filing a tax return. HMRC is urging part-time earners to check their tax position for 2024-25, especially if they earn from casual work, renting, or crypto. If you are earning extra income it is important to be aware of the…
Setting up a payroll scheme
Registering for payroll is essential when hiring staff. From HMRC registration to legal compliance, getting payroll processes right ensures your team is paid correctly and your business avoids penalties. When starting a business and hiring employees for the first time, one of the most important administrative…
Tax gap estimated at five percent for 2023-24
HMRC missed out on £46.8bn in tax last year. Small businesses and Corporation Tax make up the biggest share of the shortfall. The tax gap for the 2023-24 tax year has been published and is estimated to be 5.3% of total theoretical tax liabilities. The…