Latest Business News
Close companies face additional reporting requirements
Further administrative changes are on the cards for close companies, as the Government seeks to gain a better understanding of previously difficult-to-distinguish transactions. Close companies – those companies controlled by five or fewer participators or by their directors if those directors
Making Tax Digital for Income Tax is now live – What next?
For landlords and sole traders bringing in qualifying annual income over £50,000 (not including profit or dividends), Making Tax Digital (MTD) for Income Tax is now mandatory. For income to qualify, it must be earned from self-employment or property rental,
The dividend rules are changing – Disclosure rules on tax returns and new rates
From the end of the 2025/26 tax year, 5 April 2026, you must report your dividend income accurately as part of wider personal tax reforms. Directors of close companies must disclose the company name, registration number, specific dividend amounts and
Government abolishes work-from-home relief
Directors and employees claiming work-from-home tax relief will no longer be able to claim it from the start of the new tax year – 6 April 2026. Why is this relief being taken away? The Chancellor announced the removal of
Capital allowances – New rules for a new tax year
Capital allowances continue to provide an effective method for businesses to reduce their tax bills, by providing incentives for investment in eligible expenditure – typically plant and machinery. Historically, these reliefs have been subject to change and the 2026/27 tax
Company tax returns and accounts have gone digital
HMRC and Companies House have confirmed that from 1 April, all businesses must use compliant, commercial software to file their company’s tax returns. As of 31 March, the free joint online service, commonly known as the CATO portal, from these
The final countdown: Is this your last chance to get ready for MTD for Income Tax?
With just a few weeks before Making Tax Digital (MTD) for Income Tax comes into effect on 6 April, the countdown is on. HMRC has been sending letters to thousands of sole traders, landlords and self-employed individuals, warning them their
The FRS 102 rules are changing again: How will they affect you?
The revised version of FRS 102 accounting standards has already brought new reforms for accounting periods starting on or after 1 January 2026 and now the rules are changing again. The Financial Reporting Council (FRC) has announced further amendments to
New tax year – What is changing?
The new tax year is just a few weeks away, starting on 6 April, so allow us to refresh your memory of the key changes in store for 2026/27. Personal tax The Government has decided to continue the Income Tax
Structuring your business for sale – BADR is changing once again
For business owners preparing to sell or exit their company, a stricter interpretation of the qualifying conditions for Business Asset Disposal Relief (BADR) and increased scrutiny from HMRC will soon be introduced. These changes may affect the timing of a