With the 31 January Self-Assessment deadline approaching, HM Revenue & Customs (HMRC) has issued a warning about a sharp rise in tax-related scams targeting taxpayers. Scammers frequently take advantage of peak filing periods, when individuals are expecting communications from HMRC and may be more likely to respond quickly. HMRC is urging taxpayers to stay alert and report any suspicious contact. Scale of the Problem Since February 2025, HMRC has received reports of: Over 4,8

What Does It Mean for Profit Extraction? The recent Budget confirmed that dividend tax rates will increase from April 2026, marking an important change for company directors and shareholders who rely on dividends as a key source of income. For many small and medium-sized businesses, dividends form a central part of profit extraction strategies. With higher tax rates on the horizon, now is a good time to review how and when profits are taken from the company. What’s Changing f

The government has now confirmed how the new Renters’ Rights Act will be rolled out. The reforms will be phased in across three stages from May 2026 through to the end of the decade, bringing significant changes for private landlords in England. Below is an overview of what to expect and how to begin preparing. Phase 1: Key Changes from 1 May 2026 The first stage introduces some of the most meaningful reforms—particularly around evictions and tenant protections. End of Sectio

Five practical steps to help your business thrive when you step back When a founder steps away from the day-to-day running of a business, it often makes headlines, as we recently saw with Daniel Ek announcing he would move from Spotify’s CEO role into the position of chairman. While the scale may be very different for owner-managed businesses, the underlying question is exactly the same: How do you prepare your business to run smoothly without you at the centre of everything?

What employers and employees need to know from 1 September 2025 HMRC’s latest update to Advisory Fuel Rates (AFRs), effective 1 September 2025 , introduces an important change for electric vehicle (EV) users. For the first time, there are now two separate rates for fully electric company cars—reflecting the difference between charging at home and using public charging networks. New electric vehicle rates From 1 September 2025, the AFRs for fully electric vehicles are: 8p per

For many sole traders and small business owners, accounting software only comes under review when something forces a change, for example, ensuring systems are compliant with Making Tax Digital for Income Tax. But even without regulatory pressure, reviewing your accounting setup can bring significant benefits. The right system can save valuable time, reduce errors, streamline admin, and give you clearer insight into your business’s financial position. Below are some key points

The Charity Commission has released its latest Charity Sector Risk Assessment , outlining the growing challenges faced by charities across England and Wales. Drawing on data from annual returns, serious incident reports and casework, the report shows an increasingly pressured environment — one that trustees must actively navigate. Below is an overview of the key risks identified and what trustees should be doing in response. Key Risks Identified 1. Rising Operating Deficits T

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...