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Understanding what business expenses you can claim is crucial for managing your finances and ensuring you remain compliant with HMRC regulations. Knowing the rules can help maximize your tax deductions, potentially saving your business a significant amount of money each year. Here’s a guide to what you can and can’t claim as business expenses in the UK.

Navigating the UK tax system can often feel like a daunting task, but understanding the basics of allowances and tax rates can significantly ease the process. Here’s a comprehensive guide to help you understand how allowances and tax rates work in the UK, ensuring you’re well-informed and able to manage your finances more effectively.

The deadline for making voluntary National Insurance Contributions (NICs) has been extended by HMRC to April 5, 2025. This extension provides taxpayers with additional time to fill gaps in their National Insurance records from April 2006, potentially boosting their State Pension entitlements. Importantly, the cost of these voluntary contributions will remain at 2022/2023 rates until this new deadline.