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HM Revenue and Customs (HMRC) have reported that 298,905 people filed their Self-Assessment tax return in the first week of the tax year, with a record total of 737,891 returns being filed during the month of April 2026. HMRC are highlighting several benefits to filing early, including: Getting a refund…
Pub closures blamed on costs & disproportionate tax burden The British Beer and Pub Association (BBPA) have reported that 161 pubs closed across the country in the first three months of 2026. It is estimated that this has led to the loss of 2,400 jobs. Scotland has been the most…
Running a business in recent times has been a lesson in resilience. Costs continue to increase and customers are cautious. Cash is proving tight for many businesses and credit control is a core discipline for keeping a business afloat in such times. When businesses get into financial trouble, it is…
What to think about now to grow later Starting a business is often driven by an idea, a skill, or a gap in the market. But turning that starting point into a sustainable, growing business requires more than enthusiasm. Early decisions – sometimes made quickly or informally – tend to…
Key actions for landlords The Renters’ Rights Act came into force on 1 May 2026 and represents the biggest change to renting in England for a generation. All landlords must be ready, as the new rules apply to both new and existing tenancies from day one. The most important change…
Welcome to the May 2026 Tax Update. In this issue we take a look at MTD for Income Tax going live, VAT with an interesting case of toasted marshmallows, Capital Allowances, CIS, SDLT and upcoming dates on the Accounting Horizon. MAKING TAX DIGITAL FOR INCOME TAX IS NOW LIVE Making…
What Apple’s CEO Handover Tells Business Owners About Succession Planning Apple announced last week that Tim Cook will step aside as chief executive on 1 September 2026, and hand the role to the current head of hardware engineering, John Ternus. Cook will remain closely involved as executive chairman. If you…
With Making Tax Digital (MTD) for Income Tax coming into force from 6 April 2026, HM Revenue & Customs (HMRC) has been writing to taxpayers over recent weeks to tell them that they are being mandated into the regime. MTD became mandatory from 6 April 2026 for sole traders and…
What Buyers Look for and What You Can Do About It If you are thinking about selling your business, whether that is in six months or six years, one of the first questions you will probably ask yourself is ‘what’s it worth?’. While there are formulas designed to calculate the…
The Digital Era is Officially Here The wait is over. As we enter the 2026/27 tax year, Making Tax Digital (MTD) for Income Tax Self Assessment (ITSA) has officially gone live. While the ‘digital revolution’ has been discussed for years, the final regulations were laid before Parliament on 24 March…