Posts by Nettie Buss
Changes for Crypto firms announced by FCA
Changes for Crypto firms announced by FCA In new measures announced by the Financial Conduct Authority (FCA), from Autumn 2027, crypto firms in the UK must meet financial resilience requirements, and market integrity rules covering areas such as insider trading and market manipulation. ‘This is a significant milestone for the FCA, for the industry, and…
Read MorePaternity Leave update
Paternity Leave update What are the paternity leave rules if a father is hired after their baby is born? Question: We have a new employee starting at the business on 27 June 2026. Their baby was born on 7 June 2026. They have asked to take a week of paternity leave in September 2026. Are…
Read MoreMonthly ‘payday’ deductions for 7 million Self-Assessment PAYE taxpayers
Monthly ‘payday’ deductions for 7 million Self-Assessment PAYE taxpayers In a radical move, HMRC has set out plans to end twice-yearly tax bills for the seven million PAYE taxpayers inside self-assessment, with monthly ‘payday’ payments. Following the introduction of mandatory Making Tax Digital for Income Tax for earners down to as low as £20,000 within…
Read MoreVAT and PAYE payments to be made by direct debit
VAT and PAYE payments to be made by direct debit HMRC has set out plans that require mandatory direct debit payments for VAT and PAYE affecting up to 87% of current registered businesses and sole traders. This will equate to a massive change for VAT and PAYE as HMRC consults on the plan, which requires…
Read MoreHMRC advise they will be chasing low value tax debt aggressively
HMRC advise they will be chasing low value tax debt aggressively HMRC will now be able to go for lower-level debt, but the consultations so far do not include any clarity of the lowest possible figure. Giving HMRC powers to access small tax debts, apparently below £10,000, directly from taxpayer bank accounts ‘could leave vulnerable…
Read MoreCompanies House – Keeping your standard industrial classification (SIC) code accurate
Companies House – Keeping your standard industrial classification (SIC) code accurate When you incorporate a company, one of the first things you need to tell Companies House is what your business does. This is undertaken by selecting a standard industrial classification (SIC) code – a 5-digit code that describes your company’s activity. SIC codes might seem like a…
Read MoreThousands of Landlords and Sole Traders have still not signed up for Making Tax Digital
Thousands of Landlords and Sole Traders have still not signed up for Making Tax Digital With less than 60 days to go before the first quarterly filing date for wave one of Making Tax Digital (MTD) for Income Tax, over 400,000 taxpayers have not even registered! Only 336,000 of the first wave of MTD for…
Read MoreApril 2028 – Profit & Loss mandatory for Small Companies
April 2028 – Profit & Loss mandatory for Small Companies After months of delay, the government has decided to go ahead with balance sheet and profit and loss (P&L) filing for small companies and micro-entities from 1 April 2028, but with a major caveat after intense lobbying against the plans. While it has been confirmed…
Read MoreCompanies House issue warning regarding ‘fake invoices’ to Directors
Companies House issue warning regarding ‘fake invoices’ to Directors Companies House and the Intellectual Property Office (IPO) are running a campaign to warn about the rising risk of unsolicited payment requests from fraudsters posing as the company register, for example, with help on how to differentiate the fake from the genuine invoices. The fake invoices…
Read MoreHMRC – Investigations into SME’s increase
HMRC – Investigations into SME’s increase HMRC recovered 23% more tax per investigation into small businesses and individuals, reaching £24,700 on average in 2024-25, up substantially from £20,100 the previous tax year. With more than 250,000 investigations into small businesses and individuals conducted by HMRC last tax year, has resulted in the discovery of unpaid…
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