The Supreme Court ruled against BlueCrest Capital Management in a long-running dispute with HMRC, leaving the firm facing tax and National Insurance determinations of nearly £200 million. The ruling follows a wider HMRC focus on how members of limited liability partnerships (LLPs) are classified for tax purposes, and comes as HMRC continues to scrutinise arrangements […]
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The most common cash flow problems that affect a business
Most, if not all, businesses will face cash flow problems at one point or another. This is why understanding some of the most common cash flow problems is important for business owners, so they know what to look out for. More often than not, cash flow problems are solvable if they are found early and […]
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Nearly all law firms face compliance risks from dramatic overhaul of SRA Accounts Rules
Following a number of high-profile law firms going insolvent, which put client funds at risk, a consultation was launched to determine how the Solicitors Regulation Authority (SRA) could better safeguard legal clients. The results of the consultation have now been made public, with an overhaul to the SRA Accounts Rules 2019 scheduled for early 2027. […]
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MGI Midgley Snelling LLP presents £1,000 to St Nicholas Primary School for sensory garden project
Leading accountants MGI Midgley Snelling LLP have presented a cheque for £1,000 to St Nicholas Primary School in Shepperton – the latest winner of the firm’s Midsnell Activity Fund. The donation will go towards a new sensory garden at the school, forming part of its OPAL (Outdoor Play and Learning) programme. The garden is intended […]
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Mixed picture for UK mergers and acquisitions – Where do the opportunities lie?
Mergers and Acquisitions (M&A) are a core part of business growth and resilience. Done well, the acquiring business benefits from a new market and the other company gets access to additional resources and support. Government data has shown changes in the value of UK M&As, so it is necessary to understand how opportunities may manifest […]
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Should I gift a lump sum from my pension to family? Understanding the Inheritance Tax implications
You are likely aware of the upcoming inclusion of unspent pension pots for Inheritance Tax (IHT) calculations from 6 April 2027. This has sparked a wave of interest in finding alternative ways to save for the future. While it might seem necessary to reduce the amount contained in your pension pot, there are tax implications […]
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Employee Ownership Trusts – What business owners need to know
With more than 2,400 businesses now operating through an Employee Ownership Trust (EOT) structure, this has become a mainstream option for business owners thinking about succession and exit. The tax benefits that helped drive that growth have recently changed, but EOTs remain a competitive succession route. For many owners, the financial case was never the […]
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Benefits in Kind reporting is changing…again
The Government has revised its plans for mandatory payrolling of Benefits in Kind (BiK), introducing a phased approach that splits the rollout across two years. The timetable has already shifted once, with the original April 2026 start date having been pushed back, so the new changes provide additional confusion for businesses. Employers now need to […]
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Small businesses to face new Companies House account filing rules from April 2028
After months of delays, the Government has finally confirmed how the Economic Crime and Corporate Transparency Act 2023 (EECTA) will change the way small businesses report their finances to Companies House. The new rules take effect from 1 April 2028 and will affect small companies and micro-entities across the UK. Profit and Loss (P&L) accounts […]
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Less than a month left until the MTD reporting deadline, are you ready?
The first official deadline for Making Tax Digital (MTD) for Income Tax is 7 August 2026. By this point, if you are a sole trader or landlord earning over £50,000 a year, you must have registered and filed your first quarterly report to HMRC. What is MTD? HMRC introduced MTD in an attempt to modernise […]
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