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Home » Tax

Business news and opinion from Evans Weir > Category: Tax

Are staff training budgets exempt from tax?

Offering a staff training budget is an important strategic decision, helping attract and retain employees. Some staff training budgets can be tax exempt in certain conditions too. One of the trickiest issues when running an SME is ensuring you recruit and retain a solid team. Offering opportunities for staff training and professional development can be […]

  • 28th April 2025
  • Business Advice / Tax

HMRC ends free online tax filing service

HMRC has announced that it will be closing its free online service for filing corporation tax returns and company accounts. From next year businesses will now have to pay to file these statutory items. So why the change to these important tax compliance services? Earlier this month, HMRC announced that its online service for filing […]

  • 2nd April 2025
  • Accounting / Accounting Software / HMRC / Tax

The Spring Statement

In the Autumn Budget, Rachel Reeves promised that there would only be one fiscal event each year with no other significant tax changes coming more frequently. So would the Spring Statement offer any surprises? In her Spring Statement on 26th March 2025 the Chancellor Rachel Reeves repeatedly mentioned how the world changes rapidly: economic and […]

  • 28th March 2025
  • Budget / HMRC / Making Tax Digital / Personal Tax / Self Assessment / Self Employed / Tax

Paying tax on savings – check your coding notice!

If you’re building personal savings, it’s useful to understand at what point you might need to pay tax on your funds. However, recently HMRC has begun to estimate the amount of interest due on your savings and collect it through your tax coding notice. So what do you need to know to avoid paying too […]

  • 19th March 2025
  • Personal Tax / Tax
Personal and business Tax

Tax deadline missed by more than a million

The 31 January is deadline day for self-assessment tax returns. And despite the efforts of accountants and individuals the month of January typically involves a last minute scramble for records and receipts.   This year, according to data from HMRC, 1.1 million individuals missed the 2023/24 deadline; the same number as last year. The tax […]

  • 6th February 2025
  • HMRC / Self Assessment / Tax

What do SMEs need to be aware of in 2025?

The start of a year is always good time to look ahead at what tax and financial changes will take effect over the coming months. For SMEs there are a number of changes in 2025 which could have an impact on operations and which it makes sense to plan for. Increase in National Minimum Wage […]

  • 7th January 2025
  • Accounting / Business Advice / National Insurance / SME Questions / Tax

Making Tax Digital Deadline Confirmed

The new Labour government has confirmed that the Making Tax Digital (MTD) initiative will go ahead. It had been unclear whether the policy introduced by the Conservatives would be followed in the same way and to the same timeline. However, the Autumn budget appeared to support the programme’s existing timeline.  What is Making Tax Digital?Making […]

  • 9th December 2024
  • Making Tax Digital / Tax / Technology

New rules when claiming employment expenses

New rules are being introduced for claiming employment expenses. To help reduce ineligible claims and tax abuse employees now need to use a P87 form and provide supporting evidence. The new rules took effect on 14th October 2024. The new process to “check first, pay layer” follows feedback that more ineligible claims were being made. […]

  • 20th November 2024
  • SME Questions / Tax

Christmas gifts for employees – what’s allowed?

With the Christmas period approaching you may be considering you might like to reward your employees. So what are the tax rules when it comes to Christmas gifts or extending festive bonuses to your team? This time of year can be a good opportunity to recognise hard work and commitment from your team. But ahead […]

  • 15th November 2024
  • Business Advice / Tax

Self assessment myths and misconceptions

Choosing whether to register for self-assessment can be a difficult decision. Certain myths have also thrived, making the decision more complex. To help, HMRC has clarified some of the most common misconceptions surrounding self-assessment and when you’ll need to pay tax when you’re self-employed. With more people now working for themselves, HMRC has highlighted five […]

  • 10th October 2024
  • HMRC / Self Assessment / Tax

SMEs blamed for £4.4 billion tax evasion

SMEs are claimed to be responsible for £4.4 billion of unpaid tax as a result of tax evasion, according to a new report from the National Audit Office (NAO). Tax evasion is the practice of deliberately falsifying or omitting information to reduce a tax bill.   The research – which focused on the high street […]

  • 19th September 2024
  • Business News / HMRC / SME Questions / Tax
crypto currency gains

HMRC clamps down on tax reporting of cryptocurrency gains

HMRC has begun clamping down on new tax reporting rules covering cryptocurrency gains. As part of a steady push over the last 12 months it’s become clear that any crypto gains would see greater attention from the tax authorities. In 2024/25 it’s also likely that crypto assets will need to be fully declared for the […]

  • 9th September 2024
  • Tax
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