GoForma

  Chancellor Rachel Reeves unveiled the  Autumn Budget 2025  on 26 November, and there’s a lot in it for both individuals and businesses across the UK. The big headline rates - income tax and corporation tax stay the same, so there’s some stability there. But dig a little deeper, and you’ll spot plenty of changes to allowances, reliefs, and thresholds that can still make a real difference. Here’s a look at the main measures and what they actually mean for your personal tax rates, your savings and investment income, and how businesses handle their taxes.  UK Budget 2025 Key Highlights The government is aiming to bring in a hefty revenue around £26 billion by 2030.  A key part of their strategy? They’re keeping most personal income-tax thresholds frozen right through to 2031.  Rather than raising the main rates for income tax, National Insurance, or corporation tax, they’re making a series of smaller adjustments , like tweaks to savings, dividends, prope...

  Changing your company’s Accounting Reference Date (ARD) might seem like a daunting task, but it’s actually pretty simple. Whether you’re gearing up for tax season, coordinating with group companies, or syncing up with your business cycle, tweaking your ARD can give you more flexibility and better control over your financial year. In this guide, we’ll break down what an ARD is, why you might consider changing it, when it’s permissible, and  how to change Accounting Reference Date  online or by mail — plus we’ll tackle some frequently asked questions. What Is an Accounting Reference Date? Your Accounting Reference Date (ARD) is the official date that signifies the end of your company’s financial year. It determines when your annual accounts and tax return are due. When you establish your company, Companies House automatically assigns your ARD, which is typically the last day of the month in which your company was incorporated. For instance, if your company was set up on J...

  Value Added Tax (VAT) is a tax that gets tacked onto the price of goods and services in the UK. The rate can vary depending on what you’re buying. Businesses act as collectors for HM Revenue & Customs (HMRC), gathering VAT and then paying it when they file their VAT returns. Getting a grip on how VAT operates is crucial for both consumers and businesses. It influences the final price shoppers see in stores and the tax figures that businesses have to manage when selling their products or services. In the UK, there are four primary VAT rates: Standard Rate: 20% Reduced Rate: 5% Zero Rate: 0% Exempt: No VAT charged For the 2025/26 tax year, the VAT registration threshold is set at £90,000. This means that businesses with a taxable turnover exceeding this amount need to register for VAT. What Are the Current UK VAT Rates? There are several  UK VAT rates  that depend on the type of item or service: Standard Rate (20%) This is the most frequently applied VAT rate and cove...