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6 Things to Know About Tax on Extra Income: Second Jobs, Freelance Work, & MoreWritten on October 5, 2026 by Jane Page
Whatever the source, extra income comes with tax responsibilities. Here are six key points to help you understand the rules. 1.The £1,000 Trading Allowance If your extra income totals £1,000 or less in a tax year, you can use the trading allowance. This means: You don’t need to register with HMRC for Self Assessment. You don’t […]
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Gifting Money To Children Tax EfficientlyWritten on September 29, 2026 by Kirk Rice LLP
Two ideas of how gifting money to children tax efficiently is possible are: Pay up to £2,880 into a personal pension plan for them and the government will add up to £720 immediately. Pay up to £9,000 into a Junior ISA. Choose investments wisely for each based on when they might be needing the […]
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Should You Buy an Annuity Now?Written on September 18, 2026 by Michael Powell
Many headlines suggest you can now receive £3,000 a year more from a £100,000 pension fund than a decade ago. For some this creates a genuine opportunity to secure a guaranteed income while rates remain attractive. For those considering how to turn their pension savings into a retirement income, one option is to buy an […]
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Personal Cash Flow Planning – Let’s Look to the FutureWritten on September 17, 2026 by Kirk Rice LLP
Key Points Cashflow planning helps bring your finances to life by showing how your income, savings, investments and spending may work together over the years ahead. It helps you look ahead and explore whether you’re on track to achieve the goals that matter most to you. A cashflow plan may show that you are already […]
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What Tax Relief Can I Claim On Startup Costs?Written on September 17, 2026 by Kirk Rice LLP
Virtually all businesses need money to get off the ground, whether it’s just for some basic office equipment or for more elaborate machinery and business premises. Either way, you’ll want to ensure you receive the maximum tax relief for these start-up costs. The first point to note is that qualifying pre-trading revenue expenditure may be […]
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The Pensions Dashboard: What Is It, How Will It Work and When Will It Launch?Written on August 17, 2026 by Kirk Rice LLP
Key Points The Pensions Dashboard is a new government-backed online service designed to help you find and view information about your different pensions in one place. It will bring together information from connected workplace and personal pension schemes, alongside your State Pension. The MoneyHelper Pensions Dashboard is expected to become publicly available during the 2027/28 […]
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Considering Cashing in Your Investment Bond? Understand the Tax ImplicationsWritten on July 24, 2026 by Kirk Rice LLP
This article outlines the key points you need to be aware of. However, you should always seek tailored financial advice before making any decisions, as careful planning can help reduce or even eliminate a tax charge. Onshore vs Offshore Bonds Onshore bonds: UK life insurance companies pay corporation tax on the investment returns. This is […]
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Refurbishment Of Rental Properties – What Are The Tax Implications?Written on July 5, 2026 by Kirk Rice LLP
Key Points From April 2025, former furnished holiday lets are generally subject to the same refurbishment tax rules as other residential rental properties. Refurbishment costs for rental properties may be treated as either revenue or capital expenditure, depending on the nature of the work carried out. Repairs and maintenance are generally deductible from rental profits, […]
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Why Might HMRC Enquire Into a Deceased Person’s Tax Affairs?Written on June 10, 2026 by Kirk Rice LLP
However, in a case involving a loss of tax brought about carelessly or deliberately by the deceased (or another person acting on their behalf before their death) the time limit is extended to six years. Therefore, in most cases HMRC will request tax returns going back 4 years. For example, if a person died in […]
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Understanding Personal vs Business ProtectionWritten on April 16, 2026 by Lisa Smith
Key Points Personal and business protection are broad categories of insurance that aim to help manage financial risk, whether that relates to your household or your business. Personal protection, including life insurance, critical illness cover, and income protection, is designed to support your household if your income or health is impacted. Business protection focuses on […]
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Corporate tax planning: what it is, why it matters, and how it can support your businessWritten on October 14, 2026 by Kirk Rice LLP
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VAT Compliance: What Every SME Should KnowWritten on October 7, 2026 by Jonathan Swarbrick
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6 Things to Know About Tax on Extra Income: Second Jobs, Freelance Work, & MoreWritten on October 5, 2026 by Jane Page
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Business Valuation – Where Do I Start?Written on October 2, 2026 by Kirk Rice LLP
