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…

Many small businesses rely on specialist contractors for flexibility and skills. That remains a sound approach, but the tax position needs care. The UK’s IR35 and off-payroll working rules govern when a contractor should be taxed like an employee. Getting this right protects cashflow, avoids interest and penalties, and builds confidence with contractors and agencies.…

HMRC has significantly increased oversight of research and development (R&D) tax relief, with errors in claims totalling £441 million in 2023/24. In 2024, one in five claims faced an enquiry, compared with just one in 20 two years earlier. The compliance crackdown includes creating a specialist anti-abuse unit, which added 300 staff to HMRC’s small…

A Bank of England survey has shown that UK businesses cut jobs this summer at the fastest rate in four years, highlighting the strain of higher taxes on employers. The monthly Decision Maker Panel survey of more than 2,000 chief financial officers found that employment fell by 0.5% in the three months to August, the…

Retail sales grew in August, helped by record warm weather and a Bank of England interest rate cut. Retailers have, however, warned that speculation over potential tax rises could hit spending during the vital pre-Christmas trading season. According to the latest British Retail Consortium (BRC) and KPMG survey, sales rose 3.1% yearly. Food and drink…

Prime Minister Sir Keir Starmer has moved to strengthen Labour’s grip on economic policy by creating a new “Budget board” that links senior ministers, advisers, and business voices. Meeting weekly, the board will coordinate policies ahead of the Budget on 26 November to boost growth while maintaining the confidence of businesses and the City. The…

External capital can accelerate product development, hiring, international expansion, and mergers and acquisitions (M&A). It can also help you professionalise reporting and governance, supporting sustainable growth. The trade-off is dilution and a closer relationship with investors who will expect evidence-based plans, transparent financials and measurable milestones. Before you start any process, be clear about: what…

The UK Government has announced a new plan to support small businesses, with a wide-ranging set of measures designed to tackle long-standing challenges and drive growth. The UK Government has announced a new plan to support small businesses, with a wide-ranging set of measures designed to tackle long-standing challenges and drive growth. The Chartered Institute…