I AM A ‘WORKING PERSON’ While income tax rates on earnings from a job or self-employment were not increased, income tax thresholds will now remain unchanged until 2031. Future pay increases will see a greater proportion of income brought into tax, achieving the same result as a tax rate rise. Workers on either the national minimum wage or national living wage will see increases in their pay from April 2026. The rates of National Insurance Contributions (NIC) paid by employees

Companies House has introduced significant changes to the way UK companies must verify the identity of their Directors and People of Significant Control (PSCs).From  18th November , identity verification will be mandatory before a Confirmation Statement (CS01) can be submitted. What is changing? All Directors and PSCs will now be required to complete identity verification either: Directly via  GOV.UK , At participating  Post Office  branches, or Through an  Authorised Corpora

The Charity Commission has recently published a Charity Sector Risk Assessment, drawing on data from annual returns, serious incident reports, and casework, to highlight the main challenges currently affecting charities in England and Wales. The report is an important reminder for trustees of the pressures charities face and the need for careful governance and financial planning. Key risks identified Some of the main issues highlighted include: Rising operating deficits: In t

The government’s Renters’ Rights Bill has officially become law following Royal Assent last week — marking one of the most significant shake-ups of the private rental sector in recent years. The new Renters’ Rights Act introduces a wide range of reforms affecting private landlords and tenants in England. While full details on implementation dates are still to come, here’s an overview of the key changes to be aware of. End of Section 21 evictions One of the most notable reform

In a move designed to reduce administrative burdens and support business growth, the government has announced plans to remove the requirement for companies to include a Directors’ Report within their annual accounts. What’s changing? At present, most limited companies are required to prepare and file a Directors’ Report alongside their annual accounts. Micro-entities are already exempt from this, but under the new plans, the exemption will be extended to all companies — a cha

When clients start thinking about providing financial support to their grandchildren, it often forms a key part of their succession and estate-planning strategy. In this article we look at the practical options and tax considerations for making lifetime gifts to grandchildren, with a particular focus on inheritance tax (IHT) and other reliefs. 1. The inheritance tax context For many individuals, reducing their estate’s exposure to IHT is a primary motivation in making gifts d

A recent Upper Tribunal (UT) decision has provided clarity on the availability of Annual Tax on Enveloped Dwellings (ATED) relief and Stamp Duty Land Tax (SDLT) relief in certain property development scenarios. Background The case, Investment and Securities Trust Limited v HMRC, concerned a company that had acquired an option over a property. The company argued that it should be entitled to: Relief from higher rates of SDLT ATED relief The First Tier Tribunal (FTT) had previo

HMRC has recently published guidance on how digitally excluded individuals can apply for an exemption from Making Tax Digital (MTD) for Income Tax. Gaining HMRC’s agreement that you are digitally excluded is essential to ensure compliance with MTD requirements. What does “digitally excluded” mean? Under MTD legislation, digitally excluded individuals are those unable to use electronic communications or keep electronic records due to factors such as: Religion Age Disability Lo

In the Autumn Budget 2024, the Chancellor announced planned changes to Agricultural Property Relief (APR) and Business Property Relief (BPR), which currently provide up to 100% relief from Inheritance Tax (IHT) on qualifying agricultural and business assets. Draft legislation published in July 2025 sets out the expected rules, which are due to come into effect on 6 April 2026. What’s expected to change? A new £1 million allowance will apply to the combined value of business a

With the Self Assessment deadline of 31 January 2026 now on the horizon, it’s a good time to start preparing your tax return for 2024–25. A few key updates and rule changes could affect what you need to report and how your tax is calculated this year. Here’s what to look out for: 1. Capital Gains Tax (CGT) rate change If you’ve sold assets such as shares, property, or investments during the 2024–25 tax year, it’s important to note that Capital Gains Tax rates changed partway

If you were born before 22 September 1959 and live in England, Wales or Northern Ireland, you’re likely to receive a Winter Fuel Payment (WFP) this coming winter (2025–26). The payment – worth between £100 and £300 – is designed to help with heating costs, and will be made automatically in November or December 2025. However, HMRC has confirmed that the WFP will now be clawed back if your income for the 2025–26 tax year exceeds £35,000. Here’s what that means and how it could

HMRC is continuing to scrutinise the VAT treatment of retailers who sell goods such as flooring, kitchens, and bathrooms, and then refer...

From 18 November 2025, new rules will come into effect requiring all company directors and People with Significant Control (PSCs) to...

In August, the government unveiled its Small Business Plan, a package of measures designed to support growth, improve cashflow, and...

From 13 October 2025 , Companies House will be making a major change to the way businesses access WebFiling. To log in, you’ll now need...

The Valuation Office Agency (VOA) will soon be updating the rateable values of commercial properties across England and Wales, with the...

The UK is entering a period of financial strain as government borrowing costs hit their highest point in over two decades. Long-term...

July has been a month of roadmaps. Alongside the Government’s roadmap for the Employment Rights Bill, HM Revenue & Customs (HMRC) has set...

The Government has published a detailed roadmap for the Employment Rights Bill, one of the most significant overhauls of UK employment...

Business owners across the UK are navigating an increasingly uncertain economic landscape. With inflation creeping up, growth faltering,...