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Fiscal drag explained

Fiscal drag explained

The freezing of tax thresholds can result in a phenomenon commonly referred to as 'fiscal drag'. This occurs when tax allowances and rate bands remain unchanged while wages and inflation increase. As earnings rise, more taxpayers are ‘dragged’ into...
Making Tax Digital – which software to use

Making Tax Digital – which software to use

Making Tax Digital (MTD) for Income Tax is now in force for many self-employed individuals and landlords. Since 6 April 2026, taxpayers with qualifying business or property income exceeding £50,000 are required to maintain digital records and submit quarterly...
Covering basic business risks

Covering basic business risks

Many business owners spend considerable time focusing on sales growth, staffing and profitability, although basic business risks are sometimes overlooked until a problem arises. A simple review of key risk areas can often help protect both the business and the...
New employers check list

New employers check list

Taking on your first employee can help a business grow, although it also brings a number of important responsibilities. Before employing staff for the first time, business owners should consider the following points: Register as an employer with HM Revenue and Customs...