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…

Irregular income, no employer sick pay and responsibility for your own tax bills make cash planning more important when you work for yourself. Yet many people have little to fall back on. The Financial Conduct Authority (FCA) reports that one in 10 UK adults has no cash savings, and a further 21% have less than…

Greener operations can help control costs and reduce risk. Many organisations are upgrading fleets, equipment and buildings to cut energy use and improve resilience. Official figures show UK greenhouse gas emissions fell by around 4% in 2024, reflecting ongoing shifts in how we power and heat our economy. For smaller firms, practical efficiency steps can…

Mid-market employers increasingly offer UK-based staff the option to work abroad for part of the year, provided tax and legal checks are in place. “Workcations,” where employees choose to work remotely from another country for agreed-upon periods, are now firmly on the agenda. According to a survey of business leaders, 77% of companies now have…

HMRC’s online service to pay the High Income Child Benefit Charge (HICBC) through Pay As You Earn (PAYE) is now live. HMRC’s online service to pay the High Income Child Benefit Charge (HICBC) through Pay As You Earn (PAYE) is now live. The service was announced at the Spring Statement 2025 and aims to reduce…

HMRC has launched an online checker to help businesses judge whether their projects meet the definition of research and development for tax reliefs before they file a claim. The tool aims to reduce errors, but it is not mandatory and does not guarantee acceptance. It works like CEST for IR35: you answer a series of…

Self Assessment rarely sits at the top of anyone’s to-do list. Deadlines creep up, paperwork hides in inboxes and the rules change just enough to raise questions. This guide is here to make the job simpler. It sets out who needs to file, what to gather, how to complete the return and the steps to…