Latest Business News
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
The UK’s residency rules explained – Six months on from the change
In April 2025, the UK’s ‘non-domicile regime’ was replaced with a new set of rules centred around an individual’s tax residency, taking in factors like an individual’s links to both the UK and other countries and trust structures they are
Preparing for Plan 5: The newest student loan payment structure
Students who started their undergraduate and advanced learner loan courses on or after 1 August 2023 will fall into the new Plan 5 payment plan bracket. From April 2026, students who fit in the Plan 5 criteria will begin repaying
The signs of digital wallet abuse you need to look out for
Digital wallet abuse is on the rise as criminal networks continue to exploit individuals and businesses for their own selfish gains. In 2024, over 2.5 million cases of remote purchase fraud were recorded, so it is important that you can
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Making Tax Digital – Understanding the new penalty regime
With just six months to go before the first round of Making Tax Digital (MTD) for Income Tax gets rolled out, many sole traders are still not ready. A survey carried out by IRIS earlier this year found that 45
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
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
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
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