Everything You Need to Know About Corporation Tax Rates in the UK for 2025/26

Business, Limited Company / By Yamin Faruk / 19/06/2025

Businesses in the UK must understand the corporation tax rates that will apply to various business profits for the 2025/26 financial year. Corporation tax is a direct tax that UK-based companies pay on their profits, and staying informed about the latest rates can significantly impact your business’s financial planning. For the 2025/26 financial year, the […]

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Choose the Right Insolvency Practitioner For Your Business In the UK - Cartwheel International

How to Choose the Right Insolvency Practitioner for Your Business in the UK

Accounting, Business, Company Liquidation / By Yamin Faruk / 12/06/2025

Insolvency is a difficult situation that many UK businesses face, often due to financial mismanagement, unexpected market changes, or other factors. Choosing the right insolvency practitioner for your business in the UK can significantly affect how smoothly the process goes. An experienced practitioner can offer crucial guidance to manage debts, restructure your business, or handle

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UK Liquidation Costs Explained: What You’ll Pay for CVL, MVL & Compulsory Liquidation

Accounting, Company Liquidation / By Yamin Faruk / 30/05/2025

Understanding UK liquidation costs in 2025 is important for any company planning to close. The cost to liquidate a limited company depends on your financial position and the type of liquidation. Some directors want to close a solvent business using MVL. Others need to shut down an insolvent company through CVL or compulsory liquidation. Each

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How to Prepare for MTD for ITSA: The Complete Guide for Self-Employed Individuals and Landlords

Accounting, Making Tax Digital, Self Assessment / By Yamin Faruk / 13/05/2025

The UK government’s Making Tax Digital (MTD) initiative is transforming how individuals report their tax information to HMRC. With the upcoming implementation of MTD for ITSA (Income Tax Self-Assessment), millions of self-employed individuals and landlords will be required to transition to digital systems for record-keeping and tax submissions. These changes will take effect in April

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A Complete Guide to Successfully Claiming R&D Tax Relief in the UK

Accounting, Business, Construction, Limited Company / By Yamin Faruk / 06/05/2025

Research and Development (R&D) tax relief is a significant opportunity for businesses in the UK, allowing them to reduce their tax bills or receive valuable cash credits. The scheme aims to encourage innovation, enabling companies to reinvest in developing new products, processes, or services. Despite its potential, many businesses struggle with the complexities of the

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How Builders Can Reclaim VAT on Construction Materials in the UK

Accounting, Business, Construction, Limited Company, VAT / By Yamin Faruk / 22/04/2025

Reclaiming VAT (Value Added Tax) can be a great way for builders to reduce the costs of construction projects. This process is especially helpful for those working on large-scale builds or refurbishments. Builders, self-employed contractors, and homeowners involved in specific projects can qualify to reclaim VAT. This article will explain who is eligible to claim,

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How to Reclaim Overpaid CIS Tax: Step-by-Step Refund Guide

Accounting, Construction, Limited Company / By Yamin Faruk / 15/04/2025

If you’re a subcontractor under the UK’s Construction Industry Scheme (CIS), it’s likely that 20% (or even 30%) of your payments have been deducted for tax purposes. The good news? You might be entitled to reclaim some or all of that overpaid tax. Each year, many UK subcontractors miss out on refunds simply because they’re

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Register as a Subcontractor or Contractor Under the Construction Industry Scheme (CIS)

How to Register as a Subcontractor or Contractor Under the Construction Industry Scheme

Accounting, Construction, Limited Company / By Yamin Faruk / 04/04/2025

The Construction Industry Scheme (CIS) is a set of regulations established by HM Revenue and Customs (HMRC) in the United Kingdom to oversee tax payments within the construction sector. Under this scheme, contractors deduct money from subcontractors’ payments and forward it to HMRC, ensuring that tax obligations are met promptly. Registering correctly for CIS is

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The Complete Guide to VAT on Building Materials for Builders

Accounting, Construction, Limited Company, VAT / By Yamin Faruk / 20/03/2025

Value Added Tax (VAT) is an essential tax in the UK that affects many industries, including construction. Builders need to understand how VAT works, especially when purchasing building materials for projects or applying VAT to client charges. VAT is a tax added to products (goods and services), and it is collected by businesses on behalf

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How to Prepare Your UK Business for Year-End Tax Filing and Compliance

Accounting, Limited Company / By Yamin Faruk / 10/03/2025

Preparing your UK business for year-end tax filing and compliance is essential to staying financially organised and avoiding penalties. Whether you run a small startup or a larger enterprise, preparing for year-end can help you avoid costly mistakes and penalties. In this article, we’ll walk you through everything you need to prepare your UK business

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