Charlton Baker

28/08/2026

If you're planning to raise finance through SEIS or EIS, obtaining Advance Assurance from HMRC can help demonstrate that your business is likely to meet the scheme requirements.

Many investors look for greater certainty before committing funds, particularly when investing in early-stage and growing businesses. Advance Assurance can help support those conversations by providing an indication that the proposed investment should qualify for SEIS or EIS tax relief.

The process requires careful preparation, including robust forecasts, a strong business plan and clear evidence of your growth strategy.

Seeking investment through SEIS or EIS? Discover how HMRC Advance Assurance can help attract investors, strengthen fundraising efforts and support business growth. Speak to Charlton Baker today.

27/08/2026

Many business owners assume Corporation Tax starts when they incorporate a company. In reality, it's often when the business becomes active.

This could include starting to trade, providing services, making sales, earning income or interest.

Once active, HMRC will generally need to be notified within three months.

Understanding your obligations early can help you avoid unnecessary stress and stay focused on growing your business.

Find out when your company must register for Corporation Tax with HMRC, the deadlines you need to know, and how to avoid costly penalties. Speak to Charlton Baker for expert business tax support.

21/08/2026

Family circumstances can change after someone passes away. A Deed of Variation may allow beneficiaries to redirect an inheritance to better suit current needs and long-term plans.

It can be used to:
• Pass assets to children or grandchildren
• Place funds in trust
• Change who receives certain assets
• Support wider Inheritance Tax planning

There are strict conditions to meet, including a two-year deadline from the date of death.

Every family situation is different, which is why it's important to consider both the tax implications and the wider impact on loved ones before making changes.

A Deed of Variation can help beneficiaries redirect inherited assets and potentially reduce Inheritance Tax. Discover the key rules, benefits and considerations with guidance from Charlton Baker.

20/08/2026

The £1,000 Property Allowance was introduced to simplify tax reporting for people with smaller amounts of property income.

It may apply to:
• Rental income
• Driveway or parking space rental
• Storage space income
• Other qualifying property-related income

If your income is above £1,000, it's worth comparing the allowance against your actual allowable expenses.

The right approach depends on your individual circumstances, and getting it right could help improve your overall tax position.

The £1,000 property allowance can help landlords and property owners reduce their tax bill and simplify reporting obligations. Find out who can claim it and when professional tax advice could help.

19/08/2026

For many sole traders and partnerships, cash basis accounting offers a simpler way to manage finances and complete tax returns.

Instead of recording income and expenses when they are invoiced, you record them when money is actually received or paid. That means:
• Simpler bookkeeping
• Better visibility of business cash flow
• No tax on income you haven't received yet
• Potentially simpler treatment of equipment purchases

It's not the right choice for every business, particularly those with significant stock levels or more complex financial arrangements, but for many small businesses it can be a practical and efficient option.

Find out more and see whether cash basis accounting could work for your business:

Find out whether your business can use cash basis accounting, the benefits of the scheme, and when traditional accounting may be a better option. Speak to Charlton Baker for tailored tax advice.

13/08/2026

Could averaging relief reduce your tax bill?

If you're self-employed and your profits rise and fall from year to year, HMRC's averaging relief could help create a fairer tax outcome.

Available to farmers, market gardeners and certain creative professionals, the relief allows profits to be spread across multiple years, helping reduce the impact of unusually high or low earning periods.

Find out whether you could benefit:

If your self-employed profits vary significantly from year to year, HMRC averaging relief could help reduce your tax bill. Find out who qualifies and how Charlton Baker can help.

12/08/2026

Could you be missing out on mileage tax relief?

If you use your own vehicle for business travel, it's worth checking whether you're receiving the full tax relief you're entitled to.

Where an employer pays less than HMRC's approved mileage rates, employees may be able to claim tax relief on the difference. It's a valuable relief that is often overlooked and could help reduce your tax bill.

Read more about the rules and how the relief works

Using your own vehicle for work? Find out the latest HMRC mileage rates for 2026, how Mileage Allowance Relief works, and whether you could be entitled to claim extra tax relief.

11/08/2026

When economic conditions are unpredictable, it can be tempting to put major decisions on hold. But businesses that thrive through uncertainty are often the ones with the clearest view of their numbers.

Regular management accounts, cash flow forecasting and financial planning can help you spot trends earlier, identify risks before they become problems and make decisions with greater confidence.

With the right financial information at your fingertips, uncertainty becomes easier to manage and opportunities become easier to identify.

Need a clearer picture of your business' finances? We're here to help.

06/08/2026

For many businesses, cash flow challenges aren't caused by a lack of customers. They're caused by customers paying late.

When payments are delayed, businesses still have wages to pay, suppliers to support and tax deadlines to meet.

Even growing, profitable businesses can feel the strain when cash isn't arriving when expected.

Cash flow is often one of the clearest indicators of business health, and getting it right can create opportunities for growth, investment and greater resilience.

Late payment of invoices continues to cause cash flow problems for UK small businesses. Discover practical ways to improve cash flow management and strengthen your financial position with advice from Charlton Baker.

05/08/2026

Do you need to pay tax on money received from family?

It's a question we hear regularly, especially when parents or grandparents want to help loved ones financially.

The good news is that money gifted by a family member is not usually subject to Income Tax for the person receiving it.

However, gifts can have Inheritance Tax implications for the person making them, particularly if they pass away within seven years of making the gift.

There are also a number of valuable exemptions available.

Understanding the rules can help families support one another while avoiding unexpected tax complications further down the line.

Wondering whether money gifted by family is taxable? Learn the rules on cash gifts, Inheritance Tax, the seven-year rule and available exemptions in the UK.