In April 2025, the UK’s ‘non-domicile regime’ was replaced with a new set of rules centred around an individual’s tax residency, taking in factors like an individual’s links to both the UK and other countries and trust structures they are connected to. What was introduced? A new four-year Foreign Income and Gains (FIG) regime has […]

HMRC has confirmed it is changing the way it will handle tax on bank and building society interests. What has HMRC changed? Since October 2025, HMRC has been sending out Simple Assessment letters to individuals who may owe tax on interest incurred from banks and building societies between April 2024 and April 2025. The letters […]

With the November Budget just weeks away, one rumour appears to be gaining more traction than others. Media reports suggest that the Chancellor, Rachel Reeves, may introduce a new National Insurance charge on partnerships in her Budget announcement. What is being considered? It is understood that the Government is exploring the idea of applying an […]

In the October 2024 Budget, the Government confirmed reforms to Inheritance Tax (IHT) that will take effect from April 2026. The changes will restrict the availability of Business Property Relief (BPR), which helps reduce the tax liabilities of family-owned businesses. The new £1 million BPR cap BPR currently gives up to 100 per cent relief […]

HMRC has confirmed that the upcoming increase in company size thresholds will apply to the off-payroll working rules. From 6 April 2026, more end-client companies will qualify as “small” and fall outside the scope of the IR35 Off-Payroll Working (OPW) regime. What it means to be IR35-exempt A company that is IR35-exempt does not have […]

HM Revenue and Customs (HMRC) has announced its latest updates to the Advisory Electric Rate (AER) that will affect employees using a company car. Reviewed every three months on a quarterly cycle, HMRC’s latest update confirmed that there are now two rates for home charging (eight pence a mile) and public charging (14 pence a […]

With changes expected to be announced about the UK’s current National Minimum Wage (NMW) and National Living Wage (NLW) rates in the near future, HM Revenue and Customs (HMRC) has updated its checking process. As part of HMRC’s NMW check process, you, as an employer, are required to complete a self-review of your company’s records […]

The 2025/26 financial year will bring new reporting requirements for UK resident directors of close companies, who are required to file a Self-Assessment tax return. HM Revenue and Customs (HMRC) has introduced measures that will mean company directors will need to provide more information when submitting their tax return. What will change for close company […]

From 18 November 2025, identity verification will be mandatory for new company directors, members of LLPs and Persons with Significant Control (PSCs). All existing directors, members and PSCs must verify their identity within twelve months. Companies House will not be prosecuting these individuals for failure to comply for the first 12 months, but from November […]

From January 2026, FRS 102 is going to be changing in a significant way and businesses need to be ready. Any business that prepares accounts under UK GAAP should be aware of the impact the changes will have on how financial information is recorded and processed. What’s changing with FRS 102? Traditionally, most businesses have […]