Businesses that lease cars often assume they can recover all of the VAT charged on car leasing payments. In practice, the rules are more limited. Where a business leases a qualifying car, HMRC
Author: Aitch
Aitch is the visionary founder and CEO of CIGMA Accounting Ltd, a boutique accounting and tax advisory firm with offices in Wimbledon and Farringdon, London. With over a decade of experience, Aitch has built a reputation for strategic tax planning, complex HMRC compliance resolution, and innovative AI-powered accounting workflows that help SMEs, landlords, and high-net-worth clients streamline their finances.
His expertise spans corporation tax, inheritance tax planning, R&D tax credit claims, capital allowances, and international tax matters, making him a trusted advisor for clients seeking to minimise tax liabilities while staying fully compliant.
Aitch is passionate about bridging traditional accounting principles with cutting-edge digital solutions, allowing businesses to operate efficiently and future-proof their financial systems. Through CIGMA, he aims to make accounting smarter, faster, and more human-centric � empowering clients to focus on growth while staying ahead of regulatory changes.
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
Tax effects of living away from your home
Many homeowners assume that if a property has been their main residence at some point, any gain made on sale will automatically be free from Capital Gains Tax (CGT). Whilst in many cases, this is
Working out your UK residence status
Your UK residence status affects how much tax you pay in the UK and, in particular, whether your foreign income and gains are subject to UK tax. In simple terms, UK residents are normally taxed on
Do you need to register for self-assessment?
Depending on your income and circumstances, you may need to register for self-assessment. This may be the case even if most of your income is taxed through PAYE. You will usually need to file a
Tax and termination payments
The tax treatment of termination payments is governed by a detailed set of rules that determine how much is taxable and whether National Insurance contributions apply. The structure of a termination
Employment law changes pressure small businesses
Many small business owners are already feeling the effects of rising staffing costs, tighter recruitment conditions and increased administration. Recent employment law changes are now adding further
Why cyber security is now a business survival issue
Cyber security is no longer a concern limited to large corporations. Increasingly, smaller businesses are finding themselves targeted by phishing attacks, payment frauds and ransomware incidents, many
The 60% tax band
Many taxpayers are surprised to learn that once their income exceeds £100,000, they can face an effective tax rate of 60%, although officially, no such rate appears to exist. This happens when the
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
How capital gains are linked with Income Tax
How capital gains are linked with Income Tax is important to understand as your overall income position affects the Capital Gains Tax (CGT) rate you pay. CGT interacts directly with your Income Tax
National Insurance liability on benefits in kind
National Insurance contributions that relate to employee benefits are known as Class 1A National Insurance contributions. Employers must pay these National Insurance contributions on most work-related
Self-employed National Insurance
Most self-employed people are required to pay Class 4 National Insurance contributions (NICs). Class 4 NICs are payable if their profits are £12,570 or more a year. Class 4 NIC rates are currently
How the Marriage Allowance works
The Marriage Allowance lets you transfer £1,260 of your Personal Allowance to your husband, wife or civil partner. Your Personal Allowance is the amount you can earn before paying Income Tax (£12,570
Tax Diary June/July 2026
1 June 2026 - Due date for corporation tax due for the year ended 31 August 2025. 19 June 2026 - PAYE and NIC deductions due for month ended 5 June 2026. (If you pay your tax electronically the due
A pattern of workplace harassment may be treated as a continuous event
A pivotal ruling has raised a protective umbrella over those impacted by a toxic workplace environment, potentially extending employers' legal liability by months or even years. An Employment
Update on Companies House plans for profit and loss filing
There has been considerable discussion over the past year about whether small companies would be required to file profit and loss accounts at Companies House. Many practitioners will be aware that
Non-tax considerations when returning to the UK
Returning to the UK after a period abroad can feel straightforward on the surface, but there are a number of practical and personal matters that need careful thought to ensure a smooth
Reclaiming VAT on taxi and ride-hailing fares
Changes announced in the Autumn Budget have removed the use of a niche VAT scheme known as the Tour Operators Margin Scheme (TOMS) for private hire vehicle operators from January 2026. TOMS was
How bonuses are taxed
Bonuses are treated as taxable earnings, so both employers and employees need to understand how they are taxed and reported. For cash bonuses (including vouchers that can be exchanged for cash), the
Tax on savings interest
If your taxable income for the 2026-27 tax year is less than £17,570, you will not pay any tax on the interest you receive. This figure combines the £5,000 starting rate for savings (taxed at 0%) with
Setting off losses against other income sources
If you are self-employed or a member of a partnership, you may be able to claim tax relief when your business makes a loss. There are several ways trading losses can be used, but each loss can only be
NIC and tax after reaching State Pension age
If you continue working after reaching State Pension age, your National Insurance position changes, but your Income Tax obligations largely remain the same. Once you reach State Pension age, you stop
Gifts to a spouse or civil partner
Transfers of assets between spouses or civil partners are usually free from Capital Gains Tax (CGT). When you give or sell an asset to your spouse or civil partner, it is treated as a disposal for CGT
New legal duty for landlords under the renters’ rights act
Landlords must now comply with an important new legal requirement introduced under the Renters’ Rights Act, which brings significant reform to the private rented sector in England. The government has
Cash flow resilience in uncertain trading conditions
Rising costs and economic uncertainty have made cash flow management more important than ever. While many businesses focus on profit, it is cash that determines whether a business can meet its day to
Beware Winter Fuel Payment scams
Pensioners are being urged to stay vigilant for any Winter Fuel Payment scams. HMRC is starting to recover Winter Fuel Payments issued for winter 2025 from those earning over £35,000 a year. While the
Pay back private fuel costs and avoid tax charge
Employees who receive fuel from their employer for private use in a company car can avoid paying the car fuel benefit charge by reimbursing the full cost of the private fuel. This process, known as
When is CGT payable on gains during 2026-27
For most capital gains realised in the 2026-27 tax year, Capital Gains Tax (CGT) is reported and paid by 31 January 2028 via the self-assessment system. This applies to gains on assets such as shares,
Filing your 2025-26 self-assessment tax return
The 2025-26 tax year ended on 5 April 2026, and attention now turns to filing your self-assessment tax return. While many leave this until the last minute, there are advantages to filing early. There