Autumn Budget 2026: Key tax changes & what they mean for your business The Chancellor has delivered the Autumn Budget 2026, setting out the government’s latest fiscal plans. While major headline rates for Corporation Tax, Dividend Tax, and Employment Income Tax remain unchanged, several critical shifts in capital reliefs, local rates, employment costs and compliance will directly impact UK business owners….
Making Tax Digital for Income Tax, how is the rollout actually going? Making Tax Digital (MTD) for Income Tax Self Assessment (ITSA) is officially live! Hundreds of thousands of sole traders and landlords are navigating a brand-new way of reporting to HMRC. Official data from HMRC’s MTD campaign highlights that over 864,000 sole traders and…
For sole traders and business owners, the 31st January brings a familiar dread, the Self Assessment tax bill. Tax isn’t automatically deducted from your income at source like a traditional PAYE employee, it’s all too easy to spend through the year only to be hit with a massive, unexpected tax bill, plus a “Payment on…
Heard the term ‘Making Tax Digital’ or ‘MTD’ and felt a slight sense of dread? You’re not alone. For many business owners, landlords, and self-employed professionals, it sounds like another piece of complicated tax admin. But what if Making Tax Digital could actually make your life easier? The reality is, MTD is here to stay….
Are you ready for the National Minimum Wage increase in April 2025? In essence, the National Minimum Wage increase presents both challenges and potential opportunities for small businesses. Proactive planning and strategic adjustments will be essential for navigating these changes successfully. National Minimum Wage increase in April 2025 National Living Wage (21 and over) £12.21…
Making Tax Digital Seems like it’s gone all a bit quiet on the MTD front! Here’s a reminder of what Making Tax Digital is and what you need to do in order to comply. Making Tax Digital (MTD) is a government initiative designed to make it easier for businesses and individuals to get their tax…
Are you newly self employed and you’ve started your own business? It’s important to register with the relevant authorities. Registering with HMRC should be one of the first things on your to do list. Registering with HMRC will ensure you are properly complying with the filing requirements imposed. Problems and penalties can arise if your…
In yet another U-turn, the UK government has introduced a significant change in the tax treatment of double cab pick-up vehicles (DCPUs) and company car tax, following a recent Court of Appeal judgment. This ruling affects how DCPUs will be classified for tax purposes starting in 2025. There is also new legislation targeting car ownership…
With the first budget now delivered by the new Labour Government, let’s take a look at the key points that have been raised; The freeze on income tax and National Insurance thresholds will end in 2028, preventing people from being pulled into higher tax bands as their wages rise. Businesses will have to…
With increasing supplier and energy costs and a rise in interest rates, it’s vital that you understand your business cash flow. Your business cash flow can give you insights about the health of specific products or services and overall market patterns. In this blog, we provide cash flow tips for businesses. What is cash…