Business

There are special rules to prevent close companies, generally companies controlled by a small group of individuals, from allowing directors or shareholders to take money out of the company without paying the appropriate tax. Under CTA10/S455, if a

There are simplified expenses arrangements available for sole traders and business partnerships (with no corporate partner) that allow the use of fixed mileage rates instead of working out the actual costs of buying and running a vehicle (such as

The income generated from land or property in the UK is treated as arising from a UK property business. The underlying legislation defines this broadly to include all activities that produce rental income or similar receipts from UK land, whether the

The salaried member legislation applies to certain members of a Limited Liability Partnership (LLP) whose terms of membership are more like an employee than a partner. To be a salaried member, the individual must perform services for the LLP in their

The new 40% First Year Allowance came into force from 1 January 2026. This marks an important development for businesses investing in plant and machinery. The new allowance was first announced at Autumn Budget 2025 and is intended to encourage

If you are self-employed, knowing which everyday costs you can legitimately claim can make a real difference to how much tax you end up paying.

The question of which costs you can claim against your self-employed business is a common one. If you are

Starting a new business can be expensive, but many of your pre-trading costs may qualify for tax relief if they meet the right conditions.

There are special tax reliefs for pre-trading expenses that are incurred before a business starts trading.

HMRC is currently contacting certain sole traders by email to reiterate the importance of adjusting business expenses for personal use.The email explains:why personal use must be adjusted on your self-assessment tax return; andwhat you need to do if

For many small business owners, the focus is on day-to-day operations. However, building long-term value is just as important, whether your aim is to sell in the future, attract investors, or secure better financing.

Focus on profitability and cash

Many business gifts and hospitality costs are not tax-deductible under current rules.

Entertainment expenses including providing hospitality and business gifts are common, but the taxation of these expenses is strictly governed by HMRC.

For