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

The government has confirmed a number of important changes affecting how individuals are taxed on their income over the coming years. While some thresholds remain frozen, several reforms take effect from April 2026 and April 2027 that could influence take-home pay, savings behaviour and wider financial planning. Below is a summary of the key points. Personal Allowance  The standard personal allowance – the amount you can earn tax-free – remains at £12,570 for 2026/27.   Howev

The start of a new year is a natural time to pause and reflect. As a business owner, you will likely have ambitions for growth, profitability and long-term success. But just as importantly, you want your business to support your personal goals, whether that’s financial security, time with family, or a better work–life balance. Strategic planning at the beginning of the year is about stepping away from day-to-day pressures to focus on the bigger picture: where you want your bu

HMRC’s Making Tax Digital for Income Tax (MTD for IT) programme continues to move closer, bringing significant changes to how sole traders and landlords keep records and report their income. While the aim is to modernise the tax system, the new requirements will represent a major shift for many individuals. Below is a clear overview of what’s changing, who will be affected, and how to prepare. What is Making Tax Digital for Income Tax?   MTD for IT is part of HMRC’s wider dig

In a surprise announcement, the Chancellor has confirmed a significant change to the planned reforms affecting Agricultural Property Relief (APR) and Business Property Relief (BPR). From 6 April 2026, the amount of qualifying agricultural and business assets that can benefit from 100% inheritance tax relief will increase substantially. This update provides welcome reassurance for farmers, business owners and families planning for the long-term future of their estates. What Ha

The start of the calendar year brings several important tax deadlines for businesses, employers and individuals. January in particular is one of the busiest months in the UK tax calendar, and missing a deadline can result in penalties and interest. Below is a summary of the main tax events for January and February 2026, along with guidance on who is affected and what action is required. January 2026 Tax Deadlines ·      1 January 2026 - Corporation Tax Payment Corporation Tax

The government has confirmed a significant change to the tax treatment of employees’ working from home expenses. From 6 April 2026, employees will no longer be able to claim a tax deduction from their earnings for costs incurred while working from home. This change, announced as part of the government’s wider review of workplace tax reliefs, will affect many employees who currently benefit from home-working expense claims. Current Position Under the existing rules, some emplo

With the festive season underway and household budgets feeling the pressure, many self-employed individuals and business owners are starting to think ahead to their next Self-Assessment tax bill. If paying your tax in one lump sum feels challenging, it’s helpful to know that there may be an option to spread the cost. Although the deadline to file your Self-Assessment tax return and pay any tax due isn’t until 31 January 2026, acting early can make the process far smoother, pa

Making Tax Digital (MTD) for Income Tax is one of the most significant changes to the UK tax system in recent years. While the timetable has shifted several times, the government confirmed further details at the 2025 Budget, giving taxpayers and advisers greater clarity on what lies ahead. Below, we summarise the key points and what they mean for individuals who currently complete a Self Assessment tax return. When Will Making Tax Digital for Income Tax Apply? MTD for Income