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How to Increase Gross Profit Returns

How to Increase Gross Profit Returns

Gross profit is one of the clearest indicators of how well your business is performing. It’s the money left after deducting the direct costs of producing goods or services from your turnover. If your gross profit margins are tight, your business will struggle to...
Tax Diary June/July 2025

Tax Diary June/July 2025

1 June 2025 – Due date for corporation tax due for the year ended 31 August 2024. 19 June 2025 – PAYE and NIC deductions due for month ended 5 June 2025. (If you pay your tax electronically the due date is 22 June 2025). 19 June 2025 – Filing...
Definition of R&D for tax purposes

Definition of R&D for tax purposes

When claiming tax relief or capital allowances on R&D, it’s crucial to ensure activities meet strict statutory definitions. Understanding Section 437 ITA and DTI guidelines is key to securing legitimate tax benefits and avoiding costly mistakes. An activity...
Tax treatment of income after cessation

Tax treatment of income after cessation

After a business closes, income can still arise. Post-cessation receipts must be properly reported and taxed under specific rules. Knowing what qualifies — and what does not — ensures businesses and individuals stay compliant with UK tax law. Under the...
Tax refunds for dissolved companies

Tax refunds for dissolved companies

Dissolving a company ends its legal existence — but unresolved assets become property of the Crown under bona vacantia. Directors must act carefully to settle assets and liabilities before dissolution, avoiding costly mistakes and lost opportunities. Dissolving...