Capital allowances continue to provide an effective method for businesses to reduce their tax bills, by providing incentives for investment in eligible expenditure – typically plant and machinery. Historically, these reliefs have been subject to change and the 2026/27 tax year is no different, as the Government moves to alter two key reliefs – Writing […]
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Directors and employees claiming work-from-home tax relief will no longer be able to claim it from the start of the new tax year – 6 April 2026. Why is this relief being taken away? The Chancellor announced the removal of the work-from-home relief as part of her latest Autumn Budget. The main reasoning given for […]
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For tax returns for the tax year to 5 April 2026, you must report your dividend income accurately as part of wider personal tax reforms. Directors of close companies must disclose the company name, registration number, specific dividend amounts and their highest percentage shareholding on Self-Assessment returns. Dividends from your own company must also be […]
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For landlords and sole traders bringing in qualifying annual income over £50,000 (not including profit or dividends), Making Tax Digital (MTD) for Income Tax is now mandatory. For income to qualify, it must be earned from self-employment or property rental, exceed the threshold in a tax year and be subject to UK Income Tax. Please […]
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Further administrative changes are on the cards for close companies, as the Government seeks to gain a better understanding of previously difficult-to-distinguish transactions. Close companies – those controlled by five or fewer participators or by directors who are also participators – may soon be required to disclose details of transactions with participators in order to […]
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Making Tax Digital (MTD) for Income Tax has finally arrived and many sole traders, landlords and self-employed individuals will need to comply with the new reporting rules. Since 6 April 2026, those with gross income over £50,000 will need to use MTD-compatible software that submits their new digital reports to HMRC. It can be hard […]
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The recent Autumn Budget introduced a series of tax and policy reforms set to strengthen the UK economy and support long-term growth. For international businesses that are operating, investing or hiring in the UK, these changes can bring new obligations and may require them to reassess their global strategies. Given these changes, it is important […]
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A management buyout (MBO) can be a beneficial option for high-net-worth individuals (HNWIs), whether as part of a succession plan or as a strategic investment opportunity. While MBOS are well established in the UK market, their suitability depends on careful structuring and financial planning. For HNWIs, it is important to understand both the risks and […]
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Since November 2025, it has become a requirement for all company directors and Persons with Significant Control (PSCs) to verify their identity with Companies House. As this must be completed by November this year, it is concerning that many have still not done so. This verification process is part of the UK Government’s efforts to […]
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From April 2026, the National Minimum Wage rates will increase once again, driving up employment costs for many businesses and requiring them to review their payroll processes. If you haven’t considered how these new rates will affect your business, you should do so now. What’s changing in minimum wage rates? From April 2026, the new […]
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