Blog - Holeys

03-06-2025

Mandatory payrolling of Benefits in Kind delayed by HMRC

The delay to payrolling Benefits in Kind (BIK) to 2027 may seem like a cause of relief for many businesses who are concerned about the extra responsibility

03-06-2025

Kittel VAT: How to control the uncontrollable

Receiving a Kittel VAT notice is something that many businesses dread. HM Revenue and Customs (HMRC) can demand the repayment of tax already reclaimed, and this can

03-06-2025

Increased borrowing could mean increased taxes, experts warn

Public borrowing hit £20.5 billion in April, the highest level for that month since 1993 and nearly £3 billion above forecast. Economists warn the Chancellor may have

03-06-2025

How to prepare for an unexpected economic recovery

The International Monetary Fund (IMF) has upgraded the UK's 2025 GDP growth forecast to 1.2 per cent, citing a strong first-quarter performance and signs of a recovering

03-06-2025

Identity crisis – Companies House begins to verify identities

On 8 April 2025, Companies House introduced identity verification for those who make filings on behalf of a business. It is currently a voluntary process, but will

03-06-2025

Too many sole traders are still missing out on their State Pension

How much State Pension you get depends on your National Insurance (NI) record when you reach the State Pension age. Gaps in your NI record could affect

03-06-2025

Three easy ways to manage your directors’ loan accounts

It is not uncommon for directors of a company to take loans from the business during each financial year, often to cover unexpected bills. However, you must

HMRC issues important tax warning to employers

03-06-2025

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

29-05-2025

Are rising tax arrears putting your business at risk?

Businesses in the UK are facing increasing financial strain, with new data from HM Revenue & Customs (HMRC) showing that tax arrears have hit £28 billion per

28-05-2025

Do you need to report that loan? The £10,000 rule and P11D implications

Many businesses routinely offer financial support to their directors or employees in the form of loans. These may be intended as temporary assistance or advances to cover

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