Income tax, VAT & National Insurance :-No increase for the remainder of this Parliament VAT on domestic electricity to be removed from 1 October 2026 Business‑rates relief:- 20 % cut for pubs, social clubs and live‑music venues from April 2027; high‑street relief threshold raised from £12k to £18k Personal allowance stays at £12,570 Household support payment:- £100 paid to ~20 million households in council‑tax bands A‑D to help with energy bills Fuel duty cut extended until Bank surcharge: – Temporary 3 % increase (Jan 2027 – Mar 2028) to fund energy‑bill
Running a regulated chartered accountancy practice involves registrations, insurance, training, and IT costs. BUT Anyone can describe themselves as an “accountant”, regardless of qualifications, training or experience. This because the law does not require a person to hold a professional accountancy qualification before using the title or offering basic bookkeeping and tax‑return services. This is unlike professions such as solicitor, doctor or architect, where the title is protected by statute and only those who meet strict entry requirements may use
Every year, many UK taxpayers discover that they have under‑paid tax, made an error on a return, or simply overlooked a source of income. Rather than waiting for HMRC to catch up with you, a voluntary disclosure lets you proactively, explain what went wrong and settle the liability, often with reduced penalties. In this guide we explain what a voluntary disclosure is, when it makes sense, how to make one correctly, and the benefits of acting early. All information reflects
HMRC had a recent consultation aimed at self employed to pay Income Tax monthly or quarterly. The earliest date for change, if the plans proceed, is April 2029. Many of us in the profession were suspecting a move such as this after the implementation of MTD. Opportunities are still there to influence the outcome, although the formal consultation is closed, the feedback received will shape the final design. Keeping an eye on HMRC’s published summary and any subsequent draft legislation to
If you run your own therapy practice you may travel to see clients, attend training or visit different venues. Knowing which of those journeys HMRC treats as a business trip (and therefore tax‑deductible) can save you money and keep your Self Assessment return compliant. The Core HMRC Test – “Wholly and Exclusively” HMRC allows you to deduct travel costs only when the journey is wholly and exclusively for the purpose of your trade. If a trip has any personal element (e.g.,
