HMRC has published a new consultation on proposals to change how property income information is reported to it by letting agents and tenancy deposit scheme providers. The aim is to improve the quality, consistency and timeliness of data, helping HMRC identify landlords who may not be declaring rental income and supporting its digital tax
More...The mandatory payrolling of benefits in kind (BiKs) will be introduced in phases from 6 April 2027. This measure was originally due to start from 6 April 2026 but was delayed by a year to give employers and payroll software providers more time to prepare. From April 2027, employers will be required to report medical benefits, company
More...New obligations requiring taxpayers to correct inaccuracies in tax returns and other documents submitted to HMRC are expected to take effect from 1 April 2028. The measures, announced in the Autumn Budget 2026, will introduce an explicit legal requirement for taxpayers to take corrective action once they become aware of an error. HMRC
More...A new measure introduced as part of the recent Budget will allow High Income Child Benefit Charge (HICBC) payments to be offset against Child Benefit overpayments relating to the same period. This will avoid individuals having to repay the overpaid Child Benefit and separately claim a refund of the HICBC paid on it. The HICBC applies
More...The withdrawal charge for Lifetime ISA (LISA) savings used by first-time buyers to purchase a property costing more than the £450,000 property price cap was reduced from 25% to 20% with effect from 29 October 2026. The change is intended to make the rules fairer for buyers who need to purchase a property above the cap and followed
More...The two-year time limit for paying tax-free pension death benefits is being removed. This means lump sum death benefits will no longer become taxable simply because they are paid more than two years after the pension scheme administrator first became aware of the member’s death. The change applies where the member died before reaching
More...The latest Government statistics reveal an interesting change in the make-up of Britain's business community, with fewer businesses operating overall but an increase in the number employing staff. Figures published in November show that the UK had approximately 5.59 million private sector businesses at the beginning of 2026, representing
More...Smaller businesses considering improvements to their cyber security may benefit from a new Government-backed discount intended to make recognised security certification more affordable. Announced on 3 November 2026, the initiative offers eligible small and medium-sized businesses a 75% discount towards the cost of Cyber Essentials
More...It was announced as part of the Autumn Budget 2026 measures that the government will introduce changes to the VAT treatment of passenger transport services supplied through taxi and private hire vehicle (PHV) operators. The changes will take effect from 2 January 2028. Under the new rules, qualifying private hire vehicle operators will
More...This is a reminder that changes to Agricultural Property Relief (APR) and Business Property Relief (BPR) came into effect from 6 April 2026, restricting the availability of 100% relief for qualifying agricultural and business assets. Under the new rules, 100% relief is available on the first £2.5 million of combined qualifying
More...As announced at the Autumn Budget 2026, the government is introducing a package of business rates measures to support high street businesses in England from 1 April 2027. The measures aim to reduce bills, protect jobs and support investment in the retail, hospitality and leisure (RHL) sectors. The Small Business Rates Relief (SBRR)
More...The government is changing the rules on late filing penalties for individuals who fail to report a disposal of UK residential property within the statutory deadline but subsequently report it on their self-assessment tax return. The changes take effect from 28 October 2026. Currently, individuals, trustees and personal representatives
More...The Employee Share Scheme rules have been relaxed to help businesses attract, incentivise and reward employees. The changes, which take effect from 6 April 2027, will increase the value of share options available under the Company Share Option Plan (CSOP), extend exercise periods and provide greater flexibility for companies and
More...From October 2027, online marketplaces will become responsible for collecting and accounting for VAT on certain sales made by UK businesses through their platforms. The changes extend existing rules, which currently require online marketplaces to account for VAT where they facilitate sales: Sales by overseas businesses to UK consumers
More...Many might view dismissal as a ritual humiliation and seek reparations for perceived psychological damages, and so it feels natural to assume that, if a dismissal is subsequently found to be unfair, any compensation will duly reflect any personal distress caused. However, as a recent appeal found, this is seldom the case, serving as a
More...December 2026 1 December 2026 - Due date for Corporation Tax payable by companies with an accounting period ended 28 February 2026, unless the company is required to pay Corporation Tax by instalments. 7 December 2026 - VAT returns and payments are normally due for VAT accounting periods ended 31 October 2026, unless an alternative
More...Businesses planning improvements to their premises could benefit from changes to the planning system intended to reduce delays and make straightforward applications easier to process. The Government announced on 30 October 2026 that a new system would allow professional planning officers to decide routine applications without waiting for
More...Ambitious businesses looking to expand may benefit from a new Government programme designed to help promising companies overcome some of the difficulties associated with rapid growth. Announced on 29 October 2026, Scale UK Connect will provide tailored support to 200 high-growth businesses through a network of regional partners. The
More...Mags Bookkeeping and Office Management Solutions was started in 2009 by Magali Lovell-Pascal. After working for several large blue chip companies over a number of years, Magali went to work for a small company in North Wales
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