Opus Insights
Insights
Tax, compliance and business commentary, updated as the rules change.
Showing 1–24 of 120 articles
New self-assessment registration service launched
HMRC has launched an improved online service to make it easier for individuals to register for self-assessment. Anyone who needs to submit a tax return for the first time for the 2025-26 tax year shou…
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HMRC targets persistent tax debts
HMRC is reviewing proposals to introduce new powers for recovering lower-value, persistent tax debts from individuals and businesses that repeatedly fail to engage with collection efforts. The proposa…
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New duty on vaping products starts in October
Businesses in the vaping sector are reminded that the new Vaping Products Duty and the Vaping Duty Stamps Scheme will take effect from 1 October 2026. HMRC is urging manufacturers, importers, wholesal…
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Tax rules for cryptoassets set to change
The tax treatment of some crypto assets is set to change under draft legislation for Finance Bill 2026-27. The proposed changes include new rules for qualifying stablecoins, crypto asset loans and liq…
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Winter Fuel Payment opt-out deadline approaches
Pensioners who do not want to receive the Winter Fuel Payment for winter 2026-27 have until September to opt out. The payment will be recovered through the tax system from those whose total income exc…
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Money and property after divorce
When a couple divorces or separates, they need to agree how their finances will be divided. This can include property, pensions, savings, investments and maintenance payments. Where possible, reaching…
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Training clawbacks can constitute an unlawful restraint of trade
Seeking to claw back training costs from wages is common practice. However, a recent ruling has set clearer boundaries as to how this can become an unenforceable restraint of trade. An appellant joine…
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Could simpler reporting reduce business paperwork?
The Government has announced plans to simplify corporate reporting and reduce the administrative burden placed on UK businesses. It estimates that the proposed reforms could save businesses more than…
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New funding opens for growing businesses
The British Business Bank has launched a £210 million investment fund to help smaller businesses in the South East of England start, develop and grow.…
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Tax diary: October and November 2026
1 October 2026 - Corporation Tax payment is due for companies with an accounting period ending 31 December 2025, unless the company is required to make quarterly instalment payments.…
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Is your company paying Corporation Tax at the right rate?
The rate of Corporation Tax payable depends mainly on the level of a company’s taxable profits. The main rate is 25% and applies where profits exceed £250,000. Companies with profits of £50,000 or les…
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When can a trading loss generate a tax refund
Making a trading loss whilst not ideal can sometimes generate a tax refund. If you are a self-employed individual or a member of a trading partnerships, a trading loss can potentially be set against o…
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When is a company dormant for Corporation Tax?
A company does not have to be formally closed to become dormant for Corporation Tax. A company is usually considered dormant if it has stopped trading and has no other income, such as investment incom…
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Are you paying your staff the correct minimum wage?
Employers must make sure their staff receive at least the National Minimum Wage or National Living Wage rate that applies to them. The correct rate depends on the worker's age and, in some cases, whet…
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Could simplified expenses save you time and money?
Self-employed people can choose to use simplified expenses to calculate certain business costs using flat rates rather than working out their actual expenses.…
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Business expenses when costs have a private element
Self-employed people can deduct allowable business expenses when calculating their taxable profits. However, where a cost has both a business and private element, only the business proportion can norm…
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Nearly 660 employers named for minimum wage failures
The Government has named nearly 660 employers for failing to pay workers the National Minimum Wage, highlighting how costly National Minimum Wage compliance failures can become.…
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Could company dividend rules be changing?
The Government has announced plans to consider major changes to the rules governing when companies can make distributions to shareholder.…
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Summer VAT relief has ended
The temporary 5% reduced rate of VAT introduced for certain children’s meals, tickets and family attractions ended on 1 September 2026. The relief applied from 25 June 2026 and was intended to reduce…
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Received a P800 from HMRC?
HMRC is currently carrying out its annual reconciliation of PAYE for the 2025-26 tax year. Between June and November, HMRC calculates the Income Tax paid by individuals and checks whether the correct…
Read moreUK employers with overseas employees
UK employers with employees who normally work overseas may have PAYE and National Insurance obligations when those employees come to the UK to carry out their duties in the UK on a short-term basis.…
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Predevelopment costs on major developments
Businesses planning major infrastructure and development projects should be aware of a new government consultation on the tax treatment of predevelopment costs.…
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Could company distribution rules change?
The tax rules concerning what constitutes a distribution for tax purposes have remained largely unchanged since Corporation Tax was introduced in 1965. HMRC has recently published a consultation looki…
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Is your VAT control system strong enough?
A strong VAT control system should clearly identify who is responsible for VAT, document the processes involved and regularly check that controls are working. HMRC also recommends keeping procedures u…
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