Andy Burnham became Prime Minister on 20 July 2026, following Sir Keir Starmer’s resignation and Mr Burnham’s election as Labour leader. Having returned to Parliament as MP for Makerfield in June, the former Mayor of Greater Manchester has moved quickly to establish the priorities of his new government. While many of the longer-term tax and spending decisions will become clearer at future fiscal events, the first few weeks of the Burnham government have already provided some

A recent Supreme Court decision could have significant tax implications for businesses operating through Limited Liability Partnerships (LLPs). Under LLP rules, members are generally treated as self-employed for Income Tax and National Insurance purposes. However, the salaried member rules, introduced in 2014, determine whether an individual should instead be treated as an employee for tax purposes. The Supreme Court's decision in HMRC v BlueCrest Capital Management (UK) LLP

HMRC is writing to some self-employed individuals whose National Insurance (NI) records may contain gaps that could affect their future State Pension entitlement. The issue potentially affects people who were self-employed between 2015 and early 2024, with HMRC estimating that up to 800,000 taxpayers could be affected. If you receive a letter, it is important not to ignore it. In some circumstances, you may be able to increase your State Pension entitlement by making voluntar

The government has published a one-year update on its Small Business Plan, outlining progress on measures designed to help small and medium-sized businesses start, scale and grow. The update covers several areas that could have a direct impact on SMEs, from tackling late payments to improving access to finance. Tackling late payments The Small Business Protections Bill was introduced to Parliament in May 2026 and includes measures aimed at strengthening protections for smalle

A shareholders’ agreement can be one of the most valuable documents a business puts in place. It establishes how owners will work together, make important decisions, resolve disputes and manage future changes in ownership. When a business starts, shareholders often have shared objectives. Over time, however, circumstances can change. Someone may want to leave, new investors could join, disagreements may arise or succession plans may need to be considered. Having a well-drafte

If you've turned a hobby into a side hustle, it's important to understand whether the extra income needs to be reported to HMRC. From selling handmade wedding stationery and baking cakes to photography, videography or other freelance services, earning additional income could create a tax obligation. The £1,000 trading allowance If your gross trading income is more than £1,000 in a tax year, you may need to register for Self Assessment, complete a tax return and potentially pa

The Department for Education (DfE) has published a series of updates for academies over recent weeks, covering changes to funding, financial reporting, the Academy Trust Handbook, SEND provision and apprenticeships. Here are some of the key developments academy trusts should be aware of. Teacher pay and school funding The DfE has confirmed additional funding to support schools with the cost of teacher pay awards. An additional £700 million will be provided in 2026/27, rising

For property developers and investors, knowing when a property business officially starts can have a significant impact on tax reliefs, allowable deductions and cash flow. Current HMRC guidance generally treats a UK property business as commencing when the first rental income is received. However, recent professional commentary suggests that, in some circumstances, a property business may begin much earlier. If that interpretation is correct, businesses could be entitled to c

The government has taken another step towards tackling the long-standing issue of late payments by introducing the Small Business Protections Bill to Parliament. First announced in the King's Speech, the proposed legislation is designed to improve cash flow for smaller businesses by introducing stricter payment rules for larger organisations and giving greater powers to enforce them. Key Measures in the Bill If passed, the legislation will introduce a number of significant ch