As we head toward the tax return deadline, I wanted to share a really simple explanation of capital allowances and some important changes that are coming in from 1 January 2026 and April 2026. I know this topic can feel complicated, but my goal is to make it easy to understand and to show how the rules apply in real situations many of you ask me about every year.

If you’re self-employed, earn untaxed income, or have other income streams besides employment income, now is the time to prepare for the 2024–25 tax year as the deadline is the end of January 2026.

What Period Does It Cover?

The 2024–25 tax year runs from 6 April 2024 to 5 April 2025. The deadline is the end of January 2026 to file for this year and to make the paymen

Knowing which business expenses, you can claim is one of the most effective ways to reduce your tax bill. These allowable expenses are deducted from your income to calculate your taxable profit. HMRC has one key rule - Expenses must be “wholly and exclusively” for the purpose of your trade or the expense must be in the production of income.

If you're working in the construction industry, you've probably come across the term CIS – the Construction Industry Scheme. Recently, we’ve had a few clients needing to register for CIS and set it up in their accounting software, so we thought it would be helpful to share what we’ve learned, especially when using platforms like FreeAgent and Xero.

If you’ve been claiming non-domicile status and using the remittance basis, things are about to shift. Here’s the short version: the non-dom status is being scrapped. From April 2025, everyone who lives in the UK and is tax resident will be taxed on worldwide income and gains, no matter where it’s earned or whether it’s brought into the UK.

Many clients often ask what they can claim for home office expenses when working from home, and how the rules differ between claiming as a sole trader versus as a director of a limited company. While the amounts you can claim may be similar, the criteria and evidence required are different depending on your business structure. Here's a breakdown of the key differences and what you need to know for each scenario.