Welcome to the Finance section of UK Business Mag, your trusted source for insightful financial advice, practical strategies, and the latest economic updates relevant to businesses across the UK. Here, you’ll find expert guidance on managing cash flow, securing funding, tax planning, investment strategies, and navigating complex financial regulations. Whether you’re an entrepreneur, small business owner, or corporate finance professional, our in-depth articles provide valuable tools and resources to help you make informed financial decisions, maximize profitability, and ensure your business’s long-term financial health and success.
How Long After My 66th Birthday Will I Get My State Pension? Turning 66 in the UK marks a key milestone: reaching the State Pension age. But when exactly do you receive your payments? This guide explores the timing, differences between the Basic and New State Pension, deferral options, tax implications, and more. We answer […]
Planning “how to avoid paying tax on your pension” in the UK matters now more than ever. With the personal allowance frozen at £12,570 until April 2028 and the state pension rising due to the Triple Lock, millions of retirees face unexpected tax bills. This guide outlines actionable, legal strategies to minimize pension tax, boost
How to Avoid Paying Tax on Your Pension – What are all the Smart Ways? Read More »
Making Tax Digital for Income Tax Self Assessment (MTD ITSA) begins in April 2026. It requires sole traders and landlords with qualifying income over set thresholds to maintain digital records and submit tax updates quarterly. This full guide answers What is MTD for Income Tax?, Who needs to comply?, and How to prepare — ensuring you
HMRC MTD Income Tax Changes 2026: Full Guide Read More »
Introduction Joint bank accounts are a common financial arrangement in the UK, typically used by couples, family members, or business partners to manage shared expenses or income. They offer convenience, transparency, and easy access to funds for all named account holders. However, questions often arise when circumstances change—such as during a separation, divorce, or the
Who Owns the Money in a Joint Bank Account in the UK? Read More »
Introduction In the UK, a tax known as Value Added Tax (VAT) is applied to the sale of goods and services. From manufacture to the final sale, VAT is assessed at each point in the production and distribution chain where value is added. The final consumer is responsible for paying the tax, even though businesses
The purpose of the UK government’s Attendance Allowance program is to assist those over the age of State Pension who require assistance with personal care because of a physical or mental handicap. It helps cover extra costs for individuals who require supervision or assistance, even if they don’t currently receive formal care services. Now, let’s
Rachel Reeves BIK Tax Changes in 2025: What UK Taxpayers and Businesses Need to Know? A broad spectrum of UK companies and workers are anticipated to be impacted by changes to the Benefit-in-Kind (BIK) tax system in 2025. Announced by Rachel Reeves, these updates focus on modernizing company car taxation and aligning benefits with the
Rachel Reeves BIK Tax Changes in 2025: What UK Taxpayers and Businesses Need to Know Read More »
As an older driver in the UK, staying on top of car tax changes is crucial—especially in 2025, when a new round of Vehicle Excise Duty (VED) reforms come into effect. While age alone doesn’t offer automatic exemptions, understanding your eligibility, how emissions-based taxes work, and what benefits might apply to you can help you
Older Drivers Car Tax Changes in 2025: What You Need to Know in the UK Read More »
In the UK, gifting money to your children is a thoughtful way to support them financially. However, it’s essential to understand the tax implications to ensure your generosity doesn’t lead to unintended tax liabilities. This guide explores the rules surrounding the £3,000 annual gift exemption and other related tax exemptions in 2025. What is the
Can I Gift £3000 To Each Child UK? – Tax Exemptions 2025 Read More »
Setting up a trust fund for your child can be one of the most powerful ways to safeguard their financial future. In the UK, trusts offer flexible, legally recognised methods for protecting assets and managing wealth across generations. However, the biggest mistake parents make when setting up a trust fund UK is surprisingly common—and it
The Biggest Mistake Parents Make When Setting Up a Trust Fund UK: What You Need to Know Read More »
