Charlton Baker

04/09/2026

Recently registered for VAT? It may be worth looking backwards as well as forwards.

Many businesses are surprised to learn that HMRC allows VAT recovery on some pre-registration costs.

Depending on the circumstances, you could potentially reclaim VAT on:
• Stock and equipment purchased before registration.
• Marketing, consultancy and professional fees.
• Software and other business services acquired prior to registering.

The opportunity is often overlooked, but reviewing historic expenditure could uncover savings that improve cash flow and support future growth.
https://www.charltonbaker.co.uk/news-blog/recovering-vat-on-pre-registration-costs

03/09/2026

For many first-time buyers, Stamp Duty Land Tax (SDLT) is one of the biggest additional costs when purchasing a property. But if you qualify for First-Time Buyers' Relief, you could reduce or even eliminate your SDLT bill.

Key points to know:
• No SDLT is payable on the first £300,000 of a qualifying property purchase.
• For purchases between £300,001 and £500,000, SDLT is charged at 5% on the portion above £300,000.
• If the purchase price exceeds £500,000, the relief is not available.

The rules sound straightforward, but previous property ownership, inherited interests, overseas property holdings and joint purchases can all affect eligibility.

Buying your first home? Find out how first-time buyer SDLT relief works, who qualifies, and how much Stamp Duty Land Tax you could save. Speak to Charlton Baker for expert tax advice.

02/09/2026

When it comes to business expenses, the claim itself is only half the story.

HMRC expects businesses to keep evidence showing what was purchased, how much was paid, when the transaction occurred and how the expense relates to the business.

Some of the most common records include:
• Receipts and invoices
• Bank and credit card statements
• Contracts and agreements
• Digital purchase records

We also regularly see confusion around capital allowances and whether larger purchases should be claimed as expenses or treated differently for tax purposes.

Good records help protect your business, simplify year-end reporting and provide valuable insight into performance throughout the year.

Claiming business expenses can reduce your tax bill, but only if you keep the right records. Learn what evidence HMRC expects and how to stay compliant with expert guidance from 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.