Do you need to pay tax on your side hustle? Those who have turned their hobby into a side hustle are being reminded by HMRC that their income from these activities may be taxable. With wedding season in full swing, some may be making some extra income from selling wedding…
Could New Inheritance Tax Rules Put Family Businesses at Risk? For many business owners, succession planning is about more than protecting personal wealth. It’s about safeguarding a family legacy, preserving jobs, and ensuring that a business can be passed smoothly to the next generation. However, upcoming changes to inheritance tax…
Welcome to the July 2026 Tax Update. In this issue we take a look at the first MTD deadline, Benefits in Kind, Gov.uk Chat, VAT on public EV charging points and upcoming dates on the Accounting Horizon. MTD FOR INCOME TAX: 7 AUGUST DEADLINE IS NEAR Making Tax Digital (MTD)…
HMRC’s ‘Don’t get caught out’ campaign encourages contractors working through umbrella companies to take a closer look at their circumstances and watch out for tax avoidance. Contractors can use HMRC’s online guidance and tools to learn about tax avoidance, to understand how they are paid and how to check if…
How can you make AI work effectively for your business? Artificial Intelligence (AI) continues to make headlines. Anthropic, the company behind chatbot Claude, has filed paperwork in the US to go public. At its last valuation, the company was worth £717 billion. AI news is not all positive, though. For…
Companies House and the IPO warn about fake payment requests Companies House and the Intellectual Property Office (IPO) are asking businesses to take special care of misleading requests for payment sent by fraudulent organisations. Invoices are being sent to companies that request payment for Companies House and IPO services. They…
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…
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…