Business Rates Relief for Pubs and Live Music Venues It has been announced that eligible pubs and live music venues in England will receive a 15% discount on their business rates bills in 2026/27. Rates bills will then be frozen in real terms for a further 2 years. The British…
Welcome to the February 2026 Tax Update. In this issue we take a look at year-end tax planning, the inheritance tax U-turn, MTD, employment expenses, an input VAT ruling and dates on the Accounting Horizon. THERE’S STILL TIME FOR SOME YEAR END TAX-PLANNING! With the tax/financial year end approaching, now…
With just 10 weeks or so to go until the new tax year, many businesses are preparing for the changes that Making Tax Digital (MTD) will bring. From April, sole traders and landlords with an income of over £50,000 will need to submit quarterly updates to HMRC. It is estimated…
HM Revenue & Customs (HMRC) reports that more than 6.36 million people have already submitted their Self Assessment tax return for the 2024/25 tax year. However, they say around 5.65 million taxpayers still need to file, with the statutory deadline of 31 January 2026 now close. While filing remains possible…
Happy New Year and welcome to the January 2026 Tax Update. In this issue we take a look at upcoming changes to Making Tax Digital for Income Tax, working from home expenses, benefits in kind, e-invoicing, advisory fuel rates and dates on the Accounting Horizon. MAKING TAX DIGITAL FOR INCOME…
HMRC warns of rising Self Assessment scams ahead of January deadline HM Revenue & Customs (HMRC) has issued a warning about scams ahead of the 31 January Self Assessment deadline. According to HMRC, more than 4,800 Self Assessment scams have been reported to them since February 2025. In all, they…
Self-Assessment: A Reminder That You Can Spread Your Tax Payments With the festive season underway and household budgets feeling the pressure, it may be useful to know that if you are worried about paying your tax bill in one lump sum, you may be able to spread the cost. Although…
A legal landmark was reached last week as the Property (Digital Assets etc) Act received Royal Assent. The new law confirms that certain digital assets – including cryptocurrency tokens and non-fungible tokens (NFTs) – can now be formally recognised as personal property in England, Wales and Northern Ireland. In Scotland,…
Inheritance Tax (IHT) can apply to certain lifetime transfers/gifts and also on the value of an individual’s estate at the time of death. The IHT nil rate band is £325,000, with an additional £175,000 ‘residence nil rate band’ available in some cases for leaving the family home to direct descendants.…
Dividend Tax Rates Rising in April 2026:What Does It Mean for Profit Extraction? The recent Budget confirmed that dividend tax rates will increase from April 2026. The ordinary and upper rates of dividend tax will both rise by 2%. For many small and medium-sized companies, dividends are central to how…