The revised version of FRS 102 accounting standards has already brought new reforms for accounting periods starting on or after 1 January 2026 and now the rules are changing again. The Financial Reporting Council (FRC) has announced further amendments to FRS 102 and FRS 105, affecting how certain businesses present their financial statements. With the […]
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With just a few weeks before Making Tax Digital (MTD) for Income Tax comes into effect on 6 April, the countdown is on. HMRC has been sending letters to thousands of sole traders, landlords and self-employed individuals, warning them their reporting obligations are about to change. Whether you have received your letter or not, you […]
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As of March 2025, ONS reported that there were 2.73 million businesses registered for Value Added Tax (VAT) and/or Pay As You Earn (PAYE) in the UK. Despite this, many business owners are still unsure of their VAT obligations. To help reduce the risk of non-compliance, we have created this VAT fact sheet to answer […]
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One of Weybridge’s leading accountancy firms, MGI Midgley Snelling LLP, has voiced concern after Chancellor Rachel Reeves delivered a Spring Statement that included no direct support for businesses and made only limited reference to the potential economic impact of escalating global conflict. The Office for Budget Responsibility (OBR) forecast suggests modest growth in the years […]
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One of Surrey’s leading independent accountancy firms, MGI Midgley Snelling LLP, has promoted Steve Baxter to Associate Partner as part of its ongoing investment in the future growth of its leadership team. Steve has been an integral part of the firm for many years, playing a key role in supporting both partners and clients, while […]
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Since November 2025, it has been necessary for directors and People with Significant Control (PSCs) to verify their identity to file with Companies House. This applies to new company directors and PSCs making their first filings, as well as existing ones preparing for their annual filings. We have a blog post on our website that […]
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Energy bills, staffing, borrowing costs, taxes and supplier expenses are just a few of the reasons behind the added financial pressure business owners are currently facing. As we get closer to the new tax year, it is the ideal time to review your business plans and check that your pricing strategy remains fit for purpose. […]
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Recent media coverage has publicised the possibility of a new tax on people who leave the UK, calling it an “exit tax”. This type of regime already exists in several countries, including France, Spain, Canada and Australia, and is now being discussed as a possible option for the UK Government to raise revenue. What is […]
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Small businesses have been given a reprieve, after Companies House confirmed that its plans to require the filing of profit and loss accounts from April 2027 are on hold. A new update to official guidance confirms that the change will not go ahead on that date, with the reforms currently under review. Companies House has […]
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