Small employers’ relief (SER) rate of compensation for statutory sick pay and other benefits increase from 06 April 2026
Small employers’ relief (SER) rate of compensation for statutory sick pay and other benefits increase from 06 April 2026 Employers who qualify for small employers’ relief (SER) will be able to reclaim a higher percentage from HMRC to offset their costs as the rate increases to 9%. Employers can currently reclaim 92% of employees’ statutory…
Read MoreResearch & Development (R&D) Tax Safeguards
Research & Development (R&D) Tax Safeguards After several years of reform, shifting rules and heightened scrutiny, the government’s decision at the last Budget to keep research and development (R&D) tax relief policy largely unchanged for a second consecutive year sent a clear message to industry: the system seems to have entered a more predictable phase.…
Read MoreWhat you need to know about Making Tax Digital (MTD)
What you need to know about Making Tax Digital (MTD) As the deadline for mandatory Making Tax Digital (MTD) for Income Tax for affected taxpayers with income over £50,000 begins on Monday 6 April, HMRC has confirmed their preference is for taxpayers to file using MTD compatible software. The requirement to report quarterly will be…
Read MoreWarning – VAT registration and Government Gateway fraud
Warning – VAT registration and Government Gateway fraud What is happening? The new scam involves scammers fraudulently linking VAT services to a Government Gateway ID they control, before the genuine business owner has the chance to set these up themselves. The aim of the scam is to submit false VAT returns and divert repayments into…
Read More2026: The Year of change – the start of quarterly reporting
2026: The Year of change – the start of quarterly reporting For business owners, investors and high-earning individuals, 2026 will represent a shift in how the UK tax system operates. After years of slow reform, successive work has produced a framework that is more digital, more data-driven and more demanding. November’s Budget reinforced a consistent…
Read MoreMaking Tax Digital letters sent to Landlords and Sole Traders for the second time
Making Tax Digital letters sent to Landlords and Sole Traders for the second time HMRC has confirmed that taxpayers in the £50,000 first phase of Making Tax Digital (MTD) for Income Tax can expect to receive a letter in the post with further details. As the date for MTD for Income Tax starts from 6…
Read MoreA record £5.7billion tax paid by the top 100 taxpayers in the UK
A record £5.7 billion tax paid by the top 100 taxpayers in the UK The last year has seen a 15% increase in tax paid by the country’s leading taxpayers as total hits £5.7bn in the top 10 taxpayers. The top five alone paid £1.38bn, accounting for a quarter of the total tax paid, including…
Read MoreUK wine duty is becoming the highest in Europe
UK wine duty is becoming the highest in Europe The chancellor recently announced a 15% cut in business rates for pubs and grassroots music venues, however the price of alcohol in pubs and supermarkets is set to increase. The price of wine, spirits, lagers, and ciders is set to rise after the alcohol duty increase…
Read MoreGovernment delays small company filing of Profit and Loss reports beyond 2027
Government delays small company filing of Profit and Loss reports beyond 2027 An overhaul of accounts filing rules has been dropped by the government who have confirmed that an introduction of mandatory ‘software only’ accounts filing will not go ahead in 2027. The ‘software only’ accounts filing and the changes to ‘small company filing options’…
Read MoreDo you have an accountant helping you with Making Tax Digital for Self-Assessment?
Do you have an accountant helping you with Making Tax Digital for Self-Assessment? A Senior HMRC official has claimed that the Making Tax Digital (MTD) rollout is ‘on track’ but 40% of sole traders and landlords are without an accountant or bookkeeper as the April deadline looms! The main concern appears to be that many…
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