While the 2025 Spending Review focused on long-term investment rather than introducing new taxes, the scale of spending suggests that future tax rises are likely. Where have the Government recently invested funds? The Chancellor pledged multi-year funding for health, defence and public infrastructure, setting departmental budgets until 2028–29. Key announcements included: Defence spending to rise […]

The UK Government has confirmed that it will reduce green levies for energy-intensive industries. These cuts aim to drive growth in key sectors, such as manufacturing and clean energy. What are green levies? A green levy is an environmental charge added to energy bills to help fund renewable energy projects and reduce carbon emissions. For […]

57 per cent of small to medium-sized enterprises (SMEs) have warned of rising costs over the next quarter, according to Intuit QuickBooks’ latest Small Business Insights survey. Given this startling figure, all businesses should take care to manage cash flow constraints caused by inflation. Boost financial awareness among your staff Financial awareness should not just […]

The way families make Child Benefit repayments to HM Revenue & Customs (HMRC) is changing. From the summer, many families will have the option to report their Child Benefit payments and pay the High Income Child Benefit Charge (HICBC) directly through their PAYE tax code instead of filing a Self-Assessment tax return. How will it […]

HM Revenue and Customs (HMRC) is working to enhance compliance and improve efficiency with tax filings by implementing Making Tax Digital (MTD) for Income Tax. However, taxpayers still need to get ready for MTD before it becomes mandatory in April 2026 for sole traders and landlords with gross income of £50,000 or more. With the […]

The tax gap, the difference between the amount of tax owed and collected, has long been a thorn in HM Revenue and Customs’ (HMRC’s) side. HMRC believe that last year, a total of £46.8 billion of tax was left uncollected, which equates to just over five per cent of the overall tax owed in the […]

The delay to payrolling Benefits in Kind (BIK) to 2027 may seem like a cause of relief for many businesses who are concerned about the extra responsibility the changes will bring, but employers should still prepare for this landmark change. Rather than filing an annual P11D form, the changes to payrolling BIK will force businesses […]

Receiving a Kittel VAT notice is something that many businesses dread. HM Revenue and Customs (HMRC) can demand the repayment of tax already reclaimed, and this can sometimes amount to a significant amount of money. The notice comes when a trader “knew or should have known” their transaction was linked to fraudulent evasion of VAT. […]