Streamlining Employee Benefits Reporting: A Guide to Payrolling Benefits in Kind Payrolling benefits in kind is revolutionising the way employers handle reporting and taxation for employee benefits. With significant changes on the horizon, understanding how this system works is essential for every employer. Here’s a comprehensive guide to help you navigate the current rules and...

Salary vs dividends: The best way to extract profit in 2025/26 If you trade as a limited company, then you will likely know that balancing salary and dividends is key to extracting profit from your company in the most tax-efficient way. Both methods have distinct implications. and the right mix will depend on your specific...

Understanding HMRC Payments on Account: What You Need to Know If you’re self-employed or receive untaxed income, you may already be familiar with the concept of Payments on Account. But for many, it can still be a confusing part of managing your taxes. In this post, we’ll explain how Payments on Account work, who needs...

10 Key Reasons to Choose Bookkeeping Support from Heriot Hughes In the fast-paced world of business, staying on top of finances is crucial for success, but it can be overwhelming when you’re focused on running your company. That’s where Heriot Hughes Chartered Accountants in Liverpool can help. Our dedicated bookkeeping services keep businesses financially organised...

Check your National Insurance record: Are you missing out on your full State Pension? HM Revenue and Customs (HMRC) has recently reminded people to check and make sure they are not missing out on valuable State Pension entitlements due to gaps in their National Insurance (NI) record. The issue mainly affects parents, particularly women, who...

Are you National Minimum Wage compliant? As HMRC intensifies its crackdown on National Minimum Wage (NMW) noncompliance, it’s vital to make sure you don’t fall foul of NMW laws. Compliance can have more complexities to it than many assume, and the risks of getting it wrong are significant. HMRC is focusing on SMEs It seems...

Picture this: your business is booming, and it’s time to invest in some new equipment or a company vehicle. But with so many financing options out there, how do you decide which one of them is right for you? Let’s break down three popular choices – leasing, contract hire, and hire purchase – so you...

Are you aware of Business Asset Disposal Relief (BADR)? You may not have heard of it before, but you probably are familiar with Capital Gains Tax (CGT). BADR is a type of CGT relief. It becomes relevant if you’re selling all or part of your business. It used to go by another name – Entrepreneurs’...