Archived article: this was published in September 2021. The Health and Social Care Levy was cancelled before it took effect, and dividend and National Insurance rates have changed several times since. For current rates, read our Budget 2026 summary. The UK Government has announced on 7 September
Super-deduction and special rate first year allowance
Archived article: this was published in March 2021. The super-deduction ended on 31 March 2023. Companies can now claim full expensing on qualifying new plant and machinery (made permanent), and the Annual Investment Allowance is £1 million. Read our Budget 2026 summary for the latest capital
Tax inspections and how to avoid them
‘Anybody running a business needs to be concerned about the possibility of facing a tax inspection,’ says Nicholas Parkes, an ex-tax inspector turned tax information provider. ‘In the Revenue, we always believed you could pick up any file and find something.’ What triggers a tax
Job Support Scheme – Key Points
Archived article: this was published in October 2020 during the Covid-19 pandemic. The Job Support Scheme described here never came into operation and all Covid-19 employment support schemes have closed. For help with payroll today, see our payroll service or contact us.
How to set up a PAYE Scheme for your company
You must register as an employer with the HM Revenue & Customs (HMRC) if you are running a company or a business that employs staff to carry out work on your behalf for exchange of salary or benefits. ‘Pay As You Earn’, or PAYE, is the system by which HMRC collects income tax and National
COVID-19 Self-Employment Income Support Scheme (SEISS)
Archived article: this was published in May 2020 during the Covid-19 pandemic. The Self-Employment Income Support Scheme has now closed and no new claims can be made. For current support, see our grants and funding page or contact us. Background The Chancellor announced the following new measures
A guide to Budget 2020
This is a basic guide, prepared by ACCA’s Technical Advisory team, for members and their colleagues or clients. It’s an introduction only and should not be used as a definitive guide, since individual circumstances may vary. Specific advice should be obtained, where necessary. The message from the
Benefits of using a company
Updated October 2026: tax rates and thresholds revised for the 2026/27 tax year. Limited Liability Protection A company and its owners are separate legal entities in the eyes of the law. In legal terms, this is often known as the 'veil of incorporation.' In practice, this means that a
Making Tax Digital
Archived article: this was published in December 2018. Making Tax Digital for VAT now applies to all VAT-registered businesses, the VAT registration threshold is £90,000, and MTD for Income Tax began on 6 April 2026. Read Making Tax Digital for Income Tax: where things stand in October 2026 and see