For many years, employees and directors using their own cars for business journeys have relied on HMRC's approved mileage allowance rates as a simple way to recover motoring costs. However, despite the recent increase in the approved rate from 45p to 55p per mile from 6 April 2026, many motorists may still find themselves substantially…
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How dividends are taxed
Dividends are taxed differently from other types of income, with separate allowances and tax rates that depend on your overall level of income. You do not pay tax on dividends that fall within your Personal Allowance (2026-27: £12,570), and there is also a separate tax-free dividend allowance of £500 each year. Any dividend income above…
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Tax-free gifts for Inheritance Tax purposes
Making gifts during your lifetime can be an effective way to reduce the value of your estate for Inheritance Tax (IHT) purposes.One of the most commonly used exemptions is the annual exemption. This allows an individual to give away up to £3,000 each tax year without the gift forming part of their estate for IHT…
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Verify your ID at Companies House
Identity verification requirements at Companies House became a legal requirement for directors and people with significant control (PSCs) from 18 November 2025. This date marked the start of a 12-month transition period for identity verification. Companies House is introducing the new requirements on a phased basis and affected individuals are being contacted directly with guidance on…
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