News and Views

Businesses benefiting from the temporary 5% VAT rate for children’s meals and family attractions need to be ready for the relief to end. The temporary reduced rate applies up to and including 1 September 2026. From 2 September, affected supplies will generally return to their normal VAT treatment, which in many cases means the standard […]

It is one of the more frustrating situations for a business owner. Sales are increasing, everyone seems busy and there is plenty of work coming through the door. Yet the bank balance does not seem to improve, and, in some cases, cash becomes even tighter as the business grows. The problem is that increasing sales […]

Imagine that tomorrow morning you were suddenly unable to work. Not permanently, but for three months. Could your business continue operating normally without you? For many owner-managed businesses, the answer is less certain than the owner might like to believe. The business may employ capable people, have established customers and generate healthy profits, but important […]

Companies House identity verification is now part of the compliance responsibilities of UK companies. If you are a company director or person with significant control, it is important to understand when you need to verify and what happens afterwards. Mandatory identity verification was introduced from 18 November 2025. However, this did not mean that every […]

The approved mileage rate for employees using their own cars or vans for business journeys has increased from 45p to 55p per mile for the first 10,000 business miles in a tax year. Importantly, the increase has been backdated to 6 April 2026, so employers and employees should review mileage payments already made during the […]

Tax debts can quickly become a serious problem A profitable business can still experience difficulty paying its tax bills. VAT, PAYE, Corporation Tax and Self-Assessment payments can create significant demands on cash reserves, particularly where trading conditions have become more difficult or customers are taking longer to pay. Recent reports of increasing use of HMRC’s […]

The first quarterly deadline has passed   Making Tax Digital for Income Tax is now a reality for many self-employed people and landlords. Those brought into MTD from 6 April 2026 are required to keep digital records and use compatible software to send quarterly updates to HMRC. For those following the standard quarterly periods, the […]

Be sure to check the contents if you do receive the letter HMRC has started sending 2025/26 Simple Assessment letters to pensioners from 12 August 2026. If you receive one, it is important to check the figures carefully rather than assume that HMRC’s calculation must be correct. HMRC expects to issue around 1.8 million Simple […]