Making a trading loss whilst not ideal can sometimes generate a tax refund. If you are a self-employed individual or a member of a trading partnerships, a trading loss can potentially be set against other income or capital gains. This can reduce the amount of…
Category: Uncategorised
UK employers with overseas employees
UK employers with employees who normally work overseas may have PAYE and National Insurance obligations when those employees come to the UK to carry out their duties in the UK on a short-term basis. Employers should consider the position whenever an overseas employee visits the…
HMRC sending 1.8m Simple Assessment letters
Some taxpayers have already started to receive Simple Assessment letters from HMRC for the 2025-26 tax year, with a further tranche due to be sent between October and December 2026. Simple Assessment is used where HMRC cannot collect income tax through PAYE or self-assessment. The…
Are customers borrowing from you?
When a customer takes 60 or 90 days to pay an invoice that should have been settled in 30 days, there is another way of looking at the transaction. You are effectively providing the customer with finance, usually without charging them for it. Late payment…