Bank and building society interest – What needs to be reported under Self Assessment?
HMRC has confirmed it is changing the way it will handle tax on bank and building society interests. What has HMRC changed? Since October 2025, HMRC has been sending out Simple Assessment letters to individuals who may owe tax on
Could the Autumn Budget hold big changes to the taxation of partnerships?
With the November Budget just weeks away, one rumour appears to be gaining more traction than others. Media reports suggest that the Chancellor, Rachel Reeves, may introduce a new National Insurance charge on partnerships in her Budget announcement. What is
Family businesses most exposed to 2026 IHT reforms
In the October 2024 Budget, the Government confirmed reforms to Inheritance Tax (IHT) that will take effect from April 2026. The changes will restrict the availability of Business Property Relief (BPR), which helps reduce the tax liabilities of family-owned businesses.
IR35: Increase in financial thresholds for “small” client company
HMRC has confirmed that the upcoming increase in company size thresholds will apply to the off-payroll working rules. From 6 April 2026, more end-client companies will qualify as “small” and fall outside of the scope of the IR35 Off-Payroll Working
Company Electric Car – HMRC introduces two separate rates
HM Revenue and Customs (HMRC) has announced its latest updates to the Advisory Electric Rate (AER) that will affect employees using a company car. Reviewed every three months on a quarterly cycle, HMRC’s latest update confirmed that there are now
HMRC updates the factsheet for self-review of the National Minimum Wage
With changes expected to be announced about the UK’s current National Minimum Wage (NMW) and National Living Wage (NLW) rates in the near future, HM Revenue and Customs (HMRC) has updated its checking process. As part of HMRC’s NMW check
New shareholder dividend reporting requirements are fast approaching
The 2025/26 financial year will bring new reporting requirements for UK resident directors of close companies, who are required to file a Self-Assessment tax return. HM Revenue and Customs (HMRC) has introduced measures that will mean company directors will need
The dangers of non-compliance with the new Companies House ID verification
From 18 November 2025, identity verification will be mandatory for company directors, members of LLPs and Persons with Significant Control (PSCs). Companies House will not be prosecuting these individuals for failure to comply for the first 12 months, but from
Big changes are coming to FRS 102 – How can you prepare?
From January 2026, FRS 102 is going to be changing in a significant way and businesses need to be ready. Any business that prepares accounts under UK GAAP should be aware of the impact the changes will have on how
Eight in 10 small business owners have no exit plan – Do you?
A recent survey by Capital on Tap revealed that 79 per cent of small business owners do not have an exit plan. The survey highlighted a mix of reasons behind the lack of preparation for an exit. Emotional attachment was
