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