Blog - Holeys

22-05-2025

The countdown to Making Tax Digital for Income Tax – Who is affected first?

With less than a year to go before Making Tax Digital for Income Tax (MTD for IT) becomes mandatory for sole traders and landlords earning over £50,000,

21-05-2025

Understanding linked periods of sickness and how they affect payroll

When it comes to Statutory Sick Pay (SSP), most payroll teams are confident in calculating payments for a single period of absence. However, what happens when an

15-05-2025

Are we underestimating the real impact of workplace pressure?

This week is Mental Health Awareness Week, and an important opportunity to reflect on how we manage wellbeing in the workplace. If you are leading a team

14-05-2025

When silence costs millions – Ignoring HMRC is a risk you cannot afford

Most directors do not expect to face personal tax bills in the millions. However, that is exactly what happened in a recent case involving a Yorkshire businessman,

08-05-2025

Company car VAT – Avoiding mistakes when applying the fuel scale charge

From 1 May 2025, HM Revenue & Customs (HMRC) reduced its road fuel scale charges, reflecting a drop in fuel prices. Businesses using company cars will see

07-05-2025

Mandatory payrolling delayed to 2027 – Time to prepare, not to forget

The Government has confirmed that the mandatory payrolling of benefits in kind (BIK) and taxable employment expenses will now be introduced from April 2027, a year later

06-05-2025

How to maximise tax relief on losses to offset higher employment costs

The recent rise in employers’ National Insurance Contributions (NICs) to 15 per cent will lead to a 60 per cent increase in NIC costs for a business

06-05-2025

How HMRC treats cryptoassets disposed of by businesses

Cryptoassets make up a growing portion of the market, and businesses are increasingly looking to take advantage of these digital currencies. If your business carries out activities

06-05-2025

HMRC is closing its free Company Tax Return service

HM Revenue & Customs (HMRC) will permanently close its free service for submitting Company Tax Returns and annual accounts on 31 March 2026. Built over a decade

06-05-2025

Joint owners of Furnished Holiday Lets prepare for increased taxes

With the abolishment of the specific tax considerations for Furnished Holiday Lets (FHL) from the beginning of the current tax year, owners need to prepare for higher

06-05-2025

Beware tax avoidance scheme promoters – HMRC cracks down with new powers

Recent Government estimates suggest that as much as £1.8 billion is lost every year due to tax avoidance schemes. That money, designated to fund schools, hospitals and

06-05-2025

Is your remuneration strategy still tax-efficient in 2025/26?

Business owners who pay themselves through a combination of salary and dividends should revisit their remuneration strategy this tax year. With Income Tax thresholds frozen until 2028