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In recent years, the changes in Corporation Tax rates, National Insurance, tax-free dividend allowance and dividend tax rates, has altered the advice each business owner requires to ensure their company profits are extracted in a tax-efficient way.

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In this blog, we look at HMRC enquiries, how they may affect you and the benefits of having fee protection insurance in place.

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Changes announced in the Autumn Budget will have a significant impact on business owners and farmers from April 2026. Find out how to minimise your IHT bill in 2025 here.

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With a significant increase to the lower rate of Capital Gains Tax (CGT) from 2024 and beyond, business owners need to consider when to sell their business. Doing so sooner could save considerable Capital Gains Tax.

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Investors in cryptocurrencies like bitcoin should not forget the tax consequences of their digital wallets, says HMRC.

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The government wants businesses to make more use of electronic invoicing to combat VAT fraud and enhance tax collection.

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Raising tax rates is a traditional government strategy to increase tax receipts for HMRC, but this may not be the case for capital gains tax (CGT). This is because taxpayers generally have more control over when gains are realised.

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The Labour Party’s 2024 manifesto said, ‘We will not increase National Insurance, the basic, higher, or additional rates of Income Tax, or VAT.’ The absence of any comment on CGT meant that Rachel Reeves received persistent questions during the election campaign about a possible increase.

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For a tax efficient exit, you need to plan years ahead to reap the benefits. Let’s look at some of the taxes and tax reliefs you need to consider.

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With allowances frozen or cut, you may have underpaid tax for 2023/24

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Around 1.1 million taxpayers who failed to submit the self assessment tax return for 2022/23 on 31 January 2024 now face a £10 daily penalty charge by HMRC.

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While the higher rate of capital gains tax (CGT) on residential property disposals has dropped by 4%, from 28% to 24%, from 6 April 2024, the vast majority of landlords who sell up are facing a higher CGT bill when compared to two years ago.