The start of the new tax year on 6 April 2026 brings a number of important changes that will affect small business owners, sole traders and company directors across the UK. These updates cover everything from digital tax reporting and capital allowances to employment costs and dividend taxation. In this article, we highlight the key […]
The Spring Statement was delivered on Tuesday 3 March 2026 by Rachel Reeves. Key headline – steady plan, no big surprises The Chancellor, Rachel Reeves, set out an economic update rather than a package of new business taxes or big giveaways. The speech reiterated the government’s view that inflation is falling and the public finances […]
Making Tax Digital (MTD) for Income Tax is a major change for the self-employed, landlords and small businesses. If your business or property income is above the thresholds set by HMRC you will need to keep digital records and send quarterly updates using compatible software. For many businesses the new rules take effect from 6 […]
The Autumn Budget 2025 delivered a complex set of measures that will reshape the UK’s financial and tax landscape for years. While no headline income tax rates were raised, the Chancellor introduced significant changes through tax freezes (now until 2031) and targeted rate increases on investment income. As always my summary cuts through the complexity, […]
From November, H M Revenue & Customs will be writing to Taxpayers who have filed their self-assessment Tax Returns for 2024/25 if those Returns show that they need to comply with the Making Tax Digital for Income Tax requirements from April 2026. Here’s a reminder of what this means and what you may need to […]
Capital gains on the disposal of UK residential property must be disclosed to HMRC and any capital gains tax due must be paid within 60 days of completion. Do I have to complete a 60-day Return? If you dispose of UK residential property by way of sale or gift you will have to make a […]
There has been a lot of noise regarding the changes to inheritance tax relief for agricultural and business property, but what are the proposed changes and who will be affected? It’s worth noting that although draft legislation was published in July 2025, these changes are still proposals and not law, and that final legislation […]
Most individuals born before 22 September 1959 living in England and Wales will receive a Winter Fuel Payment (WFP) of between £100 and £300 in November or December 2025. However, HMRC will claw back the WFP if the individual’s income exceeds £35,000 in the tax year ended 5 April 2026 (2025/26). How will the […]
Recently, Companies House announced that they were introducing a requirement for all directors and persons with significant control (PSC) to verify their identity with Companies House. For further information about this and the process for verifying your identity and receiving your personal code see my previous blog here. We have now had confirmation of the […]
If you drive a double cab pickup as your company vehicle, such as a Ford Ranger or Nissan Navara, then your tax bill might be about to go up as from April 2025 these vehicles will no longer be automatically classed as vans. If a company provides an employee with a vehicle that is available […]
If you are a company director then you need to read this! Companies House are introducing a requirement for all directors and persons with significant control (PSC) to verify their identity with Companies House in order to file documents including the annual Confirmation Statement and company accounts. Accountants and other agents who file documents on […]
Do you ever think about VAT while you are buying or eating marshmallows? I realise I am probably in the minority on this one, but marshmallows have become the subject of the latest foodie VAT case and has made it from the First-Tier tribunal all the way to the Court of Appeal and back again […]
Changes to employer’s National Insurance (Employers NIC) announced at the 2024 Autumn statement have now begun to take effect with the start of the 2025/26 tax year. In this blog I will look at what those changes are, consider the different impact on smaller and larger employers, and finally what this means for single director […]
There were no major tax changes announced in the Spring Statement this year, but there were some updates relating to the introduction of Making Tax Digital for Income Tax which will be introduced from April 2026. Here’s a summary of where we are now, including those latest updates. Am I within Making Tax Digital for […]
The end of the tax year is fast approaching, so here are our top tips on how to be as tax efficient as possible. Please note that the rates and thresholds mentioned relate to England and Wales; rates and thresholds in Scotland are different. For more information about any or all of the below please […]
We know from experience that bookkeeping tends to be one of those jobs that business owners put off because they don’t enjoy it. However, by putting these tasks off, it can easily spiral into a pile of paperwork that is very daunting to tackle. Why not start off your 2025 with some of our top […]
Rachel Reeves delivered her first budget on Wednesday and upheld the promise not to increase taxes on working people, with no changes to income tax, employee’s National Insurance, or Class 4 National Insurance. There are balanced changes to employer’s National Insurance with the rate going up but the employer allowance more than doubling to £10,500. […]
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You have been running a successful and growning business as a sole trader and now it’s time to think about taking the steps to become a limited company. A limited (Ltd) company offers several advantages, including limiting your personal liability and creating a more professional image. But how do you actually make the switch? This […]
If you haven’t already submitted your self assessment tax return for the 2023/2024 tax year, now is the time to get it sorted! If you are going to complete and submit your tax return yourself, you will need to make sure you have all of the following documents and pieces of information to hand: Unique […]
