Author: Neil Dando

INSIDE THIS FORECAST An overview of the OBR Spring Forecast as delivered by Chancellor Rachel Reeves. Updated economic projections, the fiscal outlook, rising tax burden, spending pressures and practical implications for households and businesses. Introduction The Spring Forecast 2026 centres on the Office for Budget Responsibility’s (OBR) updated Economic and Fiscal Outlook, and the Chancellor’s…

Simple ways to reduce tax on savings. ISAs and pensions remain two of the simplest ways to keep savings and investments tax efficient in the UK. Used together, they can help you build short-term flexibility and longer-term retirement security, without tying everything up in one place. This article covers the key 2025/26 allowances, the rules…

What online sellers must record and report. Online selling can scale quickly. That’s good for revenue, but it puts pressure on records, VAT decisions and how you report to HMRC. It also changes how your transactions “look” on paper. Instead of one sales ledger and one bank account, you often have several moving parts at…

Around one million taxpayers missed the deadline for submitting their 2024/25 self assessment tax return, according to HMRC, leaving many facing financial penalties. HMRC reported that more than 27,000 people submitted their returns during the final hour before the midnight cut-off on 31 January. In total, about 475,722 returns were filed on the final day,…

British manufacturers recorded one of their strongest months in years in January. The closely watched purchasing managers’ index (PMI) for manufacturing rose to 51.8 in January, up from 50.6 in December and its highest level since August 2024. Any reading above 50 indicates growth. The survey, based on responses from around 650 manufacturers, also showed…

UK service sector employers reduced staffing levels in January as businesses increasingly relied on automation rather than recruiting new employees. The latest purchasing managers’ index (PMI) revealed that job losses accelerated in January compared with December, extending a pattern that began in October 2024. The survey highlighted the longest period of workforce reductions in the…

Vulnerable taxpayers face growing risks as the continued freeze on the personal allowance is expected to push around 780,000 low-income earners into the tax system by 2029/30. Many will be people earning only slightly above the minimum wage, often working zero-hours contracts or combining multiple part-time roles. For individuals already balancing essential living costs, entering…

As we approach the end of the 2025/26 tax year, it is a valuable moment to review what has changed over the past 12 months and what that means for your tax planning. Borrowing costs have begun to ease from recent highs, but interest rates remain relatively elevated by historical standards. Inflation has cooled from…

Paying yourself from your business sounds simple until you start weighing up salary, dividends and pensions, and how each one affects your take-home pay. The “best” answer also shifts depending on profits, cashflow and what else is going on at home, for example, child benefit, student loans or whether you are close to the higher-rate…

Companies House has started rolling out mandatory identity checks for directors and people with significant control (PSCs). These checks form part of a wider programme of Companies House reform under the Economic Crime and Corporate Transparency Act 2023, designed to improve the reliability of information on the public register and reduce the misuse of UK…

The Government has announced a further change to planned inheritance tax reforms affecting agricultural property relief (APR) and business property relief (BPR). From 6 April 2026, a new allowance will cap how much qualifying agricultural and business property can receive 100% relief. The allowance will be £2.5 million per estate, up from the previously proposed…

According to the latest British Chambers of Commerce Quarterly Economic Survey, UK business confidence has weakened further. More firms are expecting to raise prices and scale back investment amid persistent economic pressures. Less than half of responding businesses, 46%, expect their turnover to increase over the next 12 months. This marks the lowest level of…

Zombie firms face collapse amid economic pressure. The UK could see unemployment rise sharply in 2026. Struggling “zombie” companies are beginning to fail under sustained cost pressures, according to new analysis from the Resolution Foundation. In its new year outlook, the think tank warns that many businesses are facing a “triple whammy” of prolonged high…

The UK new car market reached a significant milestone in 2025, with registrations exceeding two million for the first time since the pandemic began. A total of 2,020,373 new cars were registered, marking the third consecutive year of growth. However, the figure remains well below the 2.3m vehicles sold in 2019. Electric vehicles (EVs) accounted…

The Government has confirmed significant wage increases for workers from 1 April 2026. The national living wage (NLW) will rise by 4.1%, reaching £12.71 per hour for those aged 21 and over. This increase will benefit around 2.4 million low-paid workers, adding £900 to the annual salary of a full-time worker. Meanwhile, the national minimum…

After months of dispute between ministers and peers, the Government has accepted a six-month qualifying period before most employees gain protection from unfair dismissal. The move clears the way for the Employment Rights Bill, following the House of Lords’ opposition to plans to introduce unfair dismissal rights from the first day of employment. Currently, staff…

Firms urged to settle overdue tax swiftly as some companies across the UK have begun receiving letters from HMRC. HMRC is warning that the tax authority may exercise its revived powers to recover overdue tax directly from their bank or building society accounts. These letters mark the first wave of firms contacted under the revived…

HMRC will stop sending most paper letters from spring as it accelerates its shift to digital communication. Email alerts will replace automatic postal letters, directing taxpayers to view new documents in their personal tax account or the HMRC app. The change is part of HMRC’s digital by default plan, which aims for 90% of interactions…

What you need to know about compliance. Preparing for an audit is rarely anyone’s favourite task, but it is part of running a resilient business. HMRC is under pressure to close the tax gap, completing around 316,000 compliance checks in 2024/25 and continues to invest in new staff and technology. Against this backdrop, audits and…

What sole traders and landlords must do before April 2026. Making Tax Digital for income tax (MTD IT) will become mandatory for many sole traders and landlords from 6 April 2026. It will change how you keep records and report income, and it will affect the way you plan your cashflow and manage deadlines. The…