Many people start a business because they are highly skilled at what they do. A talented designer decides to go freelance. An experienced electrician becomes self-employed. A consultant turns specialist knowledge into a thriving client base. What often comes later is the realisation that doing the work and running a business are two very different roles. As a business grows, management skills become just as important as technical ability in determining long-term success. What

With the new tax year fast approaching, many businesses and individuals are preparing for the introduction of Making Tax Digital (MTD). From April 2026, sole traders and landlords earning over £50,000 will be required to submit quarterly updates to HM Revenue & Customs (HMRC), marking one of the most significant changes to the UK tax system in recent years. It is estimated that around 900,000 taxpayers will join the scheme in its first phase. If you are affected, preparing ea

If you run a small VAT-registered business, the way you calculate VAT can have a meaningful impact on both your cash flow and the amount of time you spend on administration.   While the standard VAT method is the right choice for many businesses, others may benefit from the VAT Flat Rate Scheme. Understanding how each approach works can help you make a more informed decision.   How the Two Methods Compare   Under the standard VAT method, you:   ·      Charge VAT on your sales

Almost 500 UK employers have recently been fined a combined £10.2 million for failing to pay the National Minimum Wage (NMW), with £6 million repaid to approximately 42,000 workers. The list includes several well-known high-street brands, a reminder that businesses of all sizes and sectors can face challenges when applying minimum wage rules correctly. For employers, the message is clear: compliance remains firmly under the spotlight. Increased Scrutiny on Employers This late

Business rates, officially known as National Non-Domestic Rates (NNDR), are a tax charged on non-domestic property in the UK, including school buildings. For academy trusts, understanding how NNDR is funded and paid is crucial as we move into the 2026/27 financial year. Recent updates from the Department for Education (DfE) provide greater clarity on how these arrangements will work from April 2026, and what academies need to do to ensure they remain compliant and correctly f

With the end of the 2025/26 tax year fast approaching, now is a crucial time to review your finances and ensure you are making the most tax-efficient decisions available. The weeks before 5 April present valuable planning opportunities for individuals, business owners and investors alike. Acting early can help reduce liabilities, maximise reliefs and position you strongly for the new tax year. Here are the key areas to consider. Use Your Allowances Before They Reset Many tax

Recent warnings from farming groups have reignited debate around inheritance tax (IHT), with some claiming proposed changes could leave family farms financially vulnerable, and in extreme cases, force them to sell land to meet tax bills.   While the discussion is centred on agriculture, the underlying lesson applies far more broadly: when tax rules evolve, proactive planning becomes essential for protecting long-term wealth and business continuity.   What’s Happening?   Farme

Academy funding is a core part of financial planning for academy trusts, free schools and alternative provision settings. The Department for Education’s General Annual Grant (GAG) Allocation Guide for the 2025–26 academic year sets out how funding has been calculated and what has changed compared with previous years. Understanding your grant allocation in detail can help you plan budgets with greater confidence, from staffing and resources to pupil support and strategic inves

The UK government has confirmed it will scrap the long-awaited Audit and Corporate Governance Reform Bill, citing concerns that the proposed changes would place additional costs and regulatory burdens on large companies. The decision comes nearly eight years after the collapse of Carillion, an event that exposed significant weaknesses in corporate reporting, audit oversight, and director accountability and sparked years of debate around reform. What was the Audit Reform Bill