Tackling fraud in the Construction Industry Scheme (CIS) was one of the measures addressed in the recent Budget. The changes are intended to allow faster intervention where fraud is suspected, while also simplifying certain administrative aspects of the CIS. From 6 April 2026, HMRC will be able to act immediately where a business makes
More...Scotland’s Finance Secretary, Shona Robison delivered her third Budget statement to the Scottish parliament on 13 January 2026. This is the final Budget before the Holyrood elections due to take place in May. There were no changes announced to the Scottish Income Tax rates. Following the UK Government’s extension of personal tax
More...If you have not yet checked if and when you need to use Making Tax Digital (MTD) for Income Tax, you should do so as a matter of urgency. This is because from April 2026 the way many individuals report their tax to HMRC will change significantly. MTD for Income Tax represents a move away from the traditional annual self-assessment process
More...The Welsh Final Budget for 2026-27 was published on 20 January 2026. The Budget sets out the Welsh government’s revenue and capital spending plans, including detailed portfolio spending plans. Mark Drakeford MS, Cabinet Secretary for Finance and Welsh Language confirmed that the Final Budget provides £27.5bn for people, public services
More...The new 40% First Year Allowance came into force from 1 January 2026. This marks an important development for businesses investing in plant and machinery. The new allowance was first announced at Autumn Budget 2025 and is intended to encourage continued capital investment while changes to other capital allowance rates take effect. This
More...From 6 April 2026, significant changes to PAYE rules will affect umbrella companies, recruitment agencies, and end clients, increasing shared responsibility for payroll compliance across labour supply chains. Umbrella companies are often used by freelancers, contractors, and temporary workers who prefer not to operate as limited
More...It is recommended to check your National Insurance record as this can affect your future entitlement to the State Pension and other benefits. By using the online service, you can see what National Insurance contributions you have paid up to the start of the current tax year, along with any National Insurance credits you have received.
More...With so many online accounts now in daily use, including banking, shopping, email and HMRC services, password security has never been more important. A weak or reused password can lead to fraud, identity theft, or unauthorised access to personal and business information. A good first step is to use strong, unique passwords for every
More...Not every UK limited company needs a statutory audit. Many smaller companies qualify for audit exemption, but it is important to understand the rules, as an audit may still be required in certain situations. For financial years starting on or after 6 April 2025, a company is generally audit exempt if it qualifies as a small company and
More...If your business has transitional profits from basis period reform, spreading over five years may reduce the cash flow impact, but it is important to understand the deadlines. The self-employed basis period reform has changed the way trading income is allocated to tax years. Under these reforms, the basis of assessment moved from a
More...With the balancing payment and first payment on account both due on 31 January 2026, it is worth checking your options early if funds are tight. The final balancing payment for the 2024-25 tax year is due by 31 January 2026, which is also the deadline for filing your self-assessment tax return. This payment will settle any remaining tax
More...CGT on certain UK residential property sales often has a strict 60-day reporting and payment deadline, so early planning can avoid penalties. If you are selling a second property, such as a buy-to-let or a former home that is no longer your main residence, CGT will usually apply. This is different from selling your main home, which is
More...If one partner earns under £12,570, you could transfer part of their unused personal allowance and cut your tax bill by up to £252 a year. The Marriage Allowance applies to married couples and civil partners where one partner does not pay Income Tax, usually because their income is below the personal allowance. For the 2025-26 tax year,
More...There are a number of annual payroll reporting issues that employers are required to complete. With the tax year ending on 5 April 2026, this means there are several key payroll reporting chores that will need to be considered over the coming months. One of the main requirements is submitting a final PAYE return for the tax year. The
More...If your company profits sit between £50,000 and £250,000, marginal relief can soften the jump from 19% to 25% Corporation Tax. The Corporation Tax main rate applies to companies with taxable profits above £250,000 and is currently set at 25%. Companies with profits of up to £50,000 are subject to the Small Profits Rate, which remains at
More...The Chancellor, Rachel Reeves has confirmed that she will deliver the Spring Statement to the House of Commons on Tuesday, 3 March 2026. The Spring Statement is used to give an update on the state of the economy and will respond to the economic and fiscal forecast published by the Office for Budget Responsibility (OBR). The Spring
More...The High Court recently ruled on the interpretation and enforceability of "discretionary" bonus provisions in employment contracts. Mr. Gagliardi brought a breach of employment contract claim against a former hedge fund which had contracted him as a senior portfolio manager. The contract in question included a salary, a sign-on payment, a
More...When a small business applies for a bank loan, the bank is mainly trying to answer one question, “How likely is it that we will be repaid, on time and in full?” To reach that decision, they will review a mix of financial evidence, trading performance and the overall risk profile of the business. A key factor is affordability.
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