The Chancellor delivered her long-awaited and very late Budget highlighting intentions to review public spending, to freeze thresholds, to remove and reform certain allowances and to highlight future tax increases. It was a Budget that added more complexity into an already complex tax system. As with previous Budgets this complexity may increase as we will […]
From 2025, Companies House is introducing new Proof of Identity (POI) requirements for all company directors, People with Significant Control (PSC) and anyone who files company information. While this change aims to increase transparency and reduce fraud, many directors are understandably uneasy about uploading sensitive personal documents such as passports or driving licences directly to […]
Companies House is introducing a new identity verification process to help deter those wishing to use companies for illegal purposes. Anyone setting up, running, owning, or controlling a company in the UK will need to verify their identity to prove they are who they claim to be. These changes are Mandatory from 18 November 2025; […]
VAT Warning for Cosmetic Surgery Providers The cosmetic surgery sector is firmly under HM Revenue & Customs’ (HMRC) microscope. Recent guidance and enforcement action confirm that many aesthetic treatments once assumed to be exempt from VAT are, in fact, subject to the standard 20% rate. This is especially relevant for practitioners offering Botox, dermal fillers, […]
Companies House Reforms 2025–2026: What Directors, Business Owners, and Advisors Must Know Prepared by: Sterling Finance UK Limited Chartered Certified Accountants | Corporate Advisors Executive Summary The UK government is significantly strengthening the regulatory framework around company registration and compliance through Companies House. These changes—spanning identity verification, address legitimacy, overseas entity transparency, and enforcement of […]
What Businesses and Individuals Need to Know From 1 April 2025, a series of tax and regulatory changes come into effect which will have significant implications for individuals, businesses, and investors. Below is an overview of the key updates, along with insights on how they may impact you or your business. Vehicle Excise Duty (Road […]
Introduction IR35 legislation is a crucial consideration for locum doctors working through personal service companies (PSCs) or as independent contractors. Understanding how IR35 affects your tax status and income is essential to ensure compliance with HMRC regulations while optimising earnings. This article explores IR35 rules, their impact on locum doctors, and strategies to manage financial […]
Medical professionals, whether self-employed, running a private practice, or working within the NHS, face unique tax challenges. Here are 10 key ways to avoid common tax mistakes and ensure financial compliance while optimising tax efficiency. Choosing the Wrong Business Structure Deciding between self-employment, a partnership, or a limited company affects your tax liabilities. Incorporation may […]
Superannuation is a key aspect of retirement planning for medical professionals in the UK. For NHS and private practitioners, pension contributions and tax implications can be complex. Understanding how superannuation affects tax liabilities, pension growth, and retirement benefits is crucial to optimising financial planning. NHS Pension Scheme Overview The NHS Pension Scheme is a defined […]
Capital Gains Tax (CGT) is a crucial consideration for healthcare businesses, whether you are selling a practice, disposing of assets, or restructuring your business. Understanding CGT rules can help healthcare professionals minimise tax liabilities while ensuring compliance with HMRC regulations. This article outlines key aspects of CGT relevant to healthcare businesses, including taxable gains, exemptions, […]