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Pensions and Inheritance Tax: Preparing for the April 2027 Changes

Pensions have always sat apart from the rest of your estate. Money left unused in a defined contribution pension, such as a SIPP, a personal pension or most workplace schemes, could generally pass to whoever you chose, free of Inheritance Tax, however large the fund.From 6 April 2027, that changes. Most unused pension funds and lump sum death benefits will be added to the value of your estate for Inheritance Tax purposes. This isn't a proposal still working its way through Parliament, it's alrea...

Making Tax Digital for Income Tax: Preparing for the April 2027 Threshold

Making Tax Digital for Income Tax has already changed how sole traders and landlords earning over £50,000 keep records. From 6 April 2027, that net widens considerably, pulling in anyone with combined self-employment and property income over £30,000 — a group that includes many people who have never had to think about digital reporting before.The change isn't about how much tax you owe. It's about how often you report it. Instead of one Self Assessment return a year, you'll send four quarter...

October 2026 News Round-Up. What Business Owners Need to Know.

This month's headlines share a common thread: mounting pressure ahead of the Budget. Inflation has climbed to 3.1% as fuel costs surge, even as the economy posted a surprise, AI-driven growth spurt. At the same time, HMRC cancelled a record number of tax penalties on appeal, raising questions about how automated fines are issued in the first place, while new research suggests six in 10 UK millionaires have considered leaving Britain altogether over fears of further tax rises.Individually, these ...

Late Payment Rules: Protecting Your Business Cashflow

Late payment has a way of turning a profitable sale into a cashflow problem. A business can complete the work, pay its staff and suppliers, and account for the tax all before the customer settles the invoice. It's a bigger issue than many owners realise: late payments cost the UK economy almost £11 billion a year, and an estimated 14,000 businesses close annually because of them.What's less well known is that businesses already have statutory rights here. You can charge interest on overdue comm...

Capital Gains Tax: What to Check Before You Sell, Gift or Transfer an Asset

Capital Gains Tax catches people out in a very specific way: it doesn't require you to receive cash to trigger a bill. Selling an asset for a profit is the obvious case, but giving one away, transferring ownership, or swapping one investment for another can all count as a "disposal" — and HMRC will generally value the transaction at market value, whether or not any money actually changed hands.That matters because the misconceptions run deep. Gifting a property to your child doesn't erase the ...

September 2026 News Round-Up. What Business Owners Need to Know.

This month's headlines share a common thread: shifting rules and looming deadlines. Student loan interest rates have risen across every repayment plan, while HMRC confirmed that more than four in ten expected filers had still not signed up for Making Tax Digital ahead of the first quarterly deadline. Meanwhile, the new Chancellor has set his first Budget for 28 October, and revised VAT capital goods scheme rules have already come into force, easing the burden for smaller businesses buying or ref...

August 2026 News Round-Up

This month's headlines share a common thread: tighter scrutiny and rising costs across the board. HMRC collected a record £938.8bn in tax and National Insurance, while the DWP's benefit fraud figures climbed alongside it, showing just how closely government finances are being watched and managed. At the same time, over 5 million homeowners face rising mortgage repayments as global events continue to ripple through interest rates, and the FCA has confirmed a firm timeline for regulating the cryp...

July 2026 News Round-Up. What Business Owners Need to Know.

This month's headlines share a common thread: caution. Mortgage affordability is at its most stretched since 2008, businesses are leaning on temporary staff rather than committing to permanent hires, retirement savings are falling further behind what people will actually need, and the Government is pressing ahead with guaranteed hours reforms that could reshape how flexible workforces are managed.Individually, these stories touch on housing, employment and pensions. Together, they point to a wid...

Salary Sacrifice in 2026/27: What's Still Worth It

Salary sacrifice is one of the simplest ways to cut your tax and National Insurance bill. Most people know that.What fewer people check is whether it still suits their situation — because the same arrangement that saves one person hundreds of pounds a year can quietly reduce another person's statutory maternity pay, mortgage affordability, or State Pension entitlement.Not every benefit works the way it used to either. Since 2017, many salary sacrifice schemes have lost their tax advantage unde...

Associated Company Rules: Protecting Your Corporation Tax Thresholds

Running more than one company is common. What catches people out is that the corporation tax rules don't look at each company in isolation — they look at the group as a whole.If your companies are "associated," your thresholds for the 19% and 25% corporation tax rates get divided between them. Have three associated companies, and a threshold that was £50,000 as a standalone business drops to £16,667. A profit level that comfortably sat at the small profits rate can suddenly fall inside the m...

June 2026 News Round-Up. What Business Owners Need to Know.

June arrives with uncertainty on several fronts. And the pressure is being felt across the economy.Borrowing costs are climbing. Household confidence is falling. Construction firms are facing cost increases not seen in nearly 30 years. And one of the UK's most iconic industries is heading back into public hands.This month's round-up covers the stories that matter most to business owners and individuals right now. Rising gilt yields and what political uncertainty means for your finances, the plan...

April 2026 News Round-Up. What Business Owners Need to Know.

April brings a new tax year. And a lot to keep track of.Pay growth is slowing. Mortgage rates are rising. Energy costs are putting pressure on households. And for businesses thinking about hiring, there are new grants worth knowing about.This month's round-up covers the key stories that matter to business owners and individuals right now. Slowing wage growth and what it means for the wider economy, rising mortgage costs driven by global uncertainty, government support for heating oil users, and ...

Pension Allowances Explained. What to Check Before You Contribute.

Pensions are one of the most tax efficient ways to save. Most people know that.What fewer people know is how easy it is to accidentally exceed the limits and end up with a tax charge that could have been avoided with a short check beforehand.The annual allowance for 2025/26 is £60,000. But for some people it is much lower. If you have already taken money from a pension, it could be as low as £10,000. If your income is above certain thresholds, it tapers down. And the limit applies across all y...

MTD for Income Tax. Your April 2026 Checklist.

Making Tax Digital for income tax is here.From 6 April 2026, sole traders and landlords with qualifying income over £50,000 need to change how they keep records and report to HMRC. Not just once a year. Every quarter.For some people that will feel like a big shift. For others who already keep clean digital records, it will be straightforward. The difference usually comes down to one thing. Preparation.This guide is a practical checklist. It covers who is actually in scope, what the new process ...

Your 2026/27 Tax Card — Everything You Need in One Place

Tax Rates giving you a headache?  Don’t worry if you’re stuck working out your tax rates for the next financial year.   We have some simple to follow tax rate cards for guidance.  If you are looking for any specific Tax Planning advice, why not get in touch with the team....

E-commerce Record Keeping and HMRC Reporting. A Practical Guide.

Selling online is straightforward for your customers.Behind the scenes, it rarely is.The moment you start selling through a marketplace or payment platform, you have multiple systems producing their own reports, their own timelines and their own deductions. What lands in your bank account is not the same as your turnover. And since 2024, platforms like Amazon, eBay and Etsy are reporting seller income directly to HMRC every year.That does not mean selling online creates a problem. It just means ...

March 2026 News Round-Up. What Business Owners Need to Know.

Every month, something changes.Tax thresholds. Employment costs. The economy. The rules businesses have to follow.Most of it gets buried in headlines that feel distant from the day to day of running a business. This round-up brings the most relevant news from March 2026 into one place, in plain language, so you can stay informed without spending your morning trawling through it yourself.This month we cover frozen tax thresholds and what they mean for low earners, the rise of automation in the se...

Could a Simple “Traffic Light” System Help You Make Better Business Decisions?

One of the challenges in business is knowing when something needs attention.Often the warning signs are there. Cash flow tightens slightly. Margins dip. The pipeline looks a little lighter than usual. But because everything still feels manageable, nothing changes.Recently, the Institute for Fiscal Studies suggested something interesting when discussing the UK’s public finances. Instead of judging the government’s position on a single pass-or-fail rule, they proposed something more nuanced â€...

Year-End Tax Planning Guide 2025–26

As we approach the end of the tax year, it’s a good time to pause and review a few areas of your finances.Year-end planning doesn’t have to be complicated. In most cases, it’s simply about making sure you’ve made good use of the allowances and reliefs available before the tax year resets on 5 April.A short review now can often highlight opportunities that disappear once the new tax year begins.Here are a few areas that are worth checking.Make the Most of Your ISA AllowanceEach adult has ...

Spring Statement 2026: What It Means for Individuals and Businesses

The Spring Statement 2026 did not introduce major new tax changes, but it provides an updated picture of the UK economy, government borrowing and the direction of the tax system over the next five years.For many households and businesses, the impact will come less from new rules and more from the economic outlook, borrowing costs and the continued rise in the overall tax burden.Here are the key points.A Slower but Stable Economic OutlookThe Office for Budget Responsibility (OBR) has revised down...

February 2026 News Round-Up: Key Updates for Business Owners

Each month we look at a few of the stories affecting businesses and the wider economy.February’s update highlights growing pressure on businesses from rising costs, changes affecting electric vehicles, and new developments in inheritance tax relief.Here are the key points.Electric Vehicle Discounts Raise ConcernsThe UK car market continued to recover in 2025, with more than two million new vehicles registered for the first time since the pandemic. However, the shift toward electric vehicles (E...

Salary, Dividends and Pensions: How to Pay Yourself in 2026

If you run your own limited company, one of the questions that comes up every year is simple on the surface but surprisingly nuanced in practice:How should you pay yourself?Most owner-managed businesses use a combination of salary, dividends and pension contributions. The right mix often depends on profits, cashflow, tax thresholds and sometimes even things happening at home, such as child benefit or student loan repayments.Below is a practical overview of the main considerations for the 2025/26...

Companies House Identity Checks: What Directors Need to Know

Companies House has begun rolling out mandatory identity checks for company directors and people with significant control (PSCs).These checks are part of wider reforms introduced under the Economic Crime and Corporate Transparency Act 2023, designed to improve the accuracy of the Companies House register and reduce the misuse of UK companies.If you are a director, PSC, or involved in filing company information, this is something you will need to deal with over the next year.Here’s a straightfo...

January 2026 News Round-Up: Key Updates for Business Owners

As we start 2026, several important tax, employment, and compliance changes are moving closer. Below is a clear summary of what’s changing, why it matters, and what business owners should be thinking about now.HMRC Moves to Digital CorrespondenceHMRC is accelerating its shift away from paper letters, with most correspondence moving to digital from spring 2026.Email or text alerts will notify taxpayers when new messages are available in their Personal Tax Account or the HMRC app. HMRC’s aim i...

Making Tax Digital for Income Tax: What You Need to Know Before April 2026

Making Tax Digital for Income Tax is no longer a future concept. From 6 April 2026, many sole traders and landlords will be required to keep digital records and submit updates to HMRC throughout the year using approved software.The start date, thresholds, and core rules are now confirmed. While Autumn Budget 2025 softened the penalty regime, it did not delay the rollout. If you are affected, the rest of the 2025/26 tax year is your preparation window.This article explains who must join, what cha...