As the deadline for Self Assessment passes, new data from HMRC shows that taxpayers paid a staggering £325 million in fines and interest last year after failing to meet the 31 January deadline. Recent analysis of HMRC’s publicly available statistics found that around 600,000 individuals were hit with penalties for filing or paying late, which […]
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Companies House fees have increased from 1 February 2026, affecting both the cost of incorporation of new limited companies and many ongoing reporting requirements. Many of the fees have increased substantially and it is important that you factor in these additional fees. For example, the fee for incorporating a limited company is increasing as follows: […]
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The Autumn Budget 2025 has brought more changes to business rates and many businesses and property owners could be at risk of higher bills. Businesses must know if they are affected and seek the right support so they can prepare for any unexpected pressure on their cash flow. Is the business rates multiplier being reduced? […]
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From April 2026, the Employment Rights Act will come into effect, bringing reforms to Statutory Sick Pay (SSP) that will affect every employer. It will change how SSP is calculated and create new responsibilities for employers. What are the changes to SSP? One of the biggest changes is the removal of the three waiting days […]
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MGI Midgley Snelling LLP has welcomed two new members to its growing team, with the arrival of Eugene Tandi and Gillian Lestrange. Eugene joins the Audit department as an Audit Semi-Senior, where he works across audit planning, fieldwork and completion, supporting clients in meeting their statutory and regulatory requirements. He is currently studying towards his […]
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For small businesses, bookkeeping is an important part of understanding how your business is performing and making informed decisions. Effective bookkeeping provides a reliable financial base and helps prevent any unanticipated surprises at the end of the tax year. With the right administration and compliance, bookkeeping can benefit your business and operations. Why good bookkeeping […]
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Audits can be an efficient and valuable way for companies to strengthen their financial accuracy and operational efficiency. A well-prepared audit can reduce pressure on businesses and provide insight that supports better decision-making. With the right preparation and financial support, you can develop a successful audit process and build confidence in your business. The importance […]
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Running a business comes with countless responsibilities and payroll is one of the most demanding. From calculating wages to processing deductions, payroll can easily become a drain on your time and resources. Many businesses may look to outsource their payroll to trusted experts and we can offer tailored advice on how to increase efficiency in […]
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Just before Christmas the Chancellor, Rachel Reeves, announced that landmark reforms to Inheritance Tax reliefs would be watered down to support the business owners and farmers affected. While this is a step in the right direction, Weybridge-based accountants MGI Midgley Snelling LLP argue that the principle behind the reforms to Agricultural Property Relief (APR) and […]
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From April 2027, all UK employers will be required to payroll Benefits in Kind (BiKs) rather than reporting them through the traditional P11D process. While this may feel a long way off, businesses should start preparing now so that their payroll remains compliant and employee benefits are taxed accordingly. What changes will BiKs bring? Payrolling […]
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