On 30 October 2024, Chancellor Rachel Reeves presented her first budget to parliament. This was a budget intended to restore stability to our economy and to begin a decade of national renewal. Investment will be funded by revised debt rules to facilitate additional borrowing and a hefty £40 billion of tax rises.

There may come a point when you no longer need to trade through a limited company, however as the business is a legal entity the process of closing a company is far from simple. This guide explains the steps involved.

Read this article to find out how the estate of a surviving spouse or civil partner can benefit from the unused portion of their partner’s nil rate band and RNRB.

Read this article to discover five common capital gains tax mistakes and how to avoid them.

Read this article to find out how to enjoy savings income tax-free in 2024/25.

From 2024/25 onwards, the cash basis, rather than the accruals basis, is the default basis of accounts preparation for unincorporated businesses. Read this article to find out what this means for you if you run an unincorporated business.

Read this article to find out how to ensure a payment made on retirement is tax-free.

Read this article to find out about the tax implications of a company ceasing to trade.

Read this article to discover the rules for waiving dividends.

The SDLT supplement does not apply where a taxpayer exchanges their main home, even if they have two or more residential properties. Read this article to find out more and how to claim a refund if the new residence is purchased before the old one is sold.

DIY housebuilders can reclaim the VAT on building materials that they buy and which are used in the construction of their home. Read this article to find out when a claim can be made and how.

Where a taxpayer or a married couple or civil partners have more than one residence they can choose which is their main residence for capital gains tax purposes. Read this article to find when a nomination must be made and when it can be varied.

A tax charge arises where a company car is available for an employee’s private use. Read this article to discover how to work out the taxable benefit applying for the 2024/25 tax year.

If your business is registered for VAT, you must keep certain records by law. Read this article to find out what records you must keep and for how long.

The VAT registration threshold increased to £90,000 on 1 April 2024 and the deregistration threshold to £88,000. Read this article to find out when you must now register for VAT and when you can deregister.

Read this article to find out when you need to pay tax and National Insurance if you have low profits from self-employment.

If you operate your business through a personal or family company, you will need to extract your profits to use them personally. Read this article to find out how to do this in a tax-efficient manner.

Read this article to find out about claiming for expenses incurred after a business has ceased trading.

Read this article to find out how 'whistle-blowers' help HMRC in reducing the 'tax gap'.

Read this article to find out the tax position of a business partnership should one of the partners die