2025 - Page 7 of 17

20 Mar 25

Requesting evidence of earnings

If you're self-employed, lenders may require an SA302 and tax year overview as proof of earnings for mortgages or loans. These documents verify income declared on your

20 Mar 25

Tax liability if you sell a business asset

When selling assets on which capital allowances were claimed, you may need to adjust your taxable profits with a balancing charge or allowance. Understanding these rules ensures

20 Mar 25

Records you must keep if self-employed

If you are self-employed as a sole trader or a partner in a business partnership, you are required to maintain suitable business records as well as separate personal income records

20 Mar 25

VAT if you sell your business

When selling a business, the Transfer of a Business as a Going Concern (TOGC) rules can allow the transaction to be VAT-free if key conditions are met. This prevents unnecessary

20 Mar 25

Rental business mortgage relief

Since April 2020, landlords can no longer deduct mortgage interest as an expense. Instead, tax relief is capped at 20%. This change affects UK and non-UK resident landlords,

17 Mar 25

Why Adequate Business Insurance is Essential for Small Businesses

For small business owners, especially those operating as sole traders or in partnerships without limited liability, having adequate business insurance is not just a

17 Mar 25

Business Advice: An Investment, Not a Cost

Flexible planning is essential for adapting to uncertainty, responding to challenges, and seizing new opportunities. The world is unpredictable, and rigid plans can quickly become

13 Mar 25

How VAT Payments on Account Work

Businesses owing over £2.3 million in VAT annually must make advance payments on account. These are based on the previous year’s VAT liability and paid in instalments. Late

13 Mar 25

Child Benefits for over 16s

From April 2025, Child Benefit increases to £26.05 for the eldest child and £17.25 for others. Payments stop after a child turns 16 unless they continue in approved education or

13 Mar 25

Self-Employed National Insurance Contributions

Self-employed individuals earning £12,570 or more annually must pay Class 4 National Insurance Contributions (NICs). For 2024-25, rates are 6% on profits up to £50,270 and 2% above

Year: 2025

Requesting evidence of earnings

Tax liability if you sell a business asset

Records you must keep if self-employed

VAT if you sell your business

Rental business mortgage relief

Why Adequate Business Insurance is Essential for Small Businesses

Business Advice: An Investment, Not a Cost

How VAT Payments on Account Work

Child Benefits for over 16s

Self-Employed National Insurance Contributions

Electronic invoicing consultation

Changes to VAT on donations to charities

Income reporting threshold increased

SJPR