The new 40% First Year Allowance came into force from 1 January 2026. This marks an important development for businesses investing in plant and machinery. The new allowance was first announced at Autumn Budget 2025 and is intended to encourage continued capital investment while changes to other
The Welsh Final Budget for 2026-27 was published on 20 January 2026. The Budget sets out the Welsh government’s revenue and capital spending plans, including detailed portfolio spending plans.
Mark Drakeford MS, Cabinet Secretary for Finance and Welsh Language confirmed that the Final Budget
If you have not yet checked if and when you need to use Making Tax Digital (MTD) for Income Tax, you should do so as a matter of urgency. This is because from April 2026 the way many individuals report their tax to HMRC will change significantly. MTD for Income Tax represents a move away from the
Scotland’s Finance Secretary, Shona Robison delivered her third Budget statement to the Scottish parliament on 13 January 2026. This is the final Budget before the Holyrood elections due to take place in May.
There were no changes announced to the Scottish Income Tax rates. Following the UK
Tackling fraud in the Construction Industry Scheme (CIS) was one of the measures addressed in the recent Budget. The changes are intended to allow faster intervention where fraud is suspected, while also simplifying certain administrative aspects of the CIS.
From 6 April 2026, HMRC will be able to
Not every UK limited company needs a statutory audit. Many smaller companies qualify for audit exemption, but it is important to understand the rules, as an audit may still be required in certain situations.
For financial years starting on or after 6 April 2025, a company is generally audit exempt
With so many online accounts now in daily use, including banking, shopping, email and HMRC services, password security has never been more important. A weak or reused password can lead to fraud, identity theft, or unauthorised access to personal and business information.
A good first step is to use
The High Court recently ruled on the interpretation and enforceability of “discretionary” bonus provisions in employment contracts. Mr. Gagliardi brought a breach of employment contract claim against a former hedge fund which had contracted him as a senior portfolio manager. The contract in question
The Chancellor, Rachel Reeves has confirmed that she will deliver the Spring Statement to the House of Commons on Tuesday, 3 March 2026.
The Spring Statement is used to give an update on the state of the economy and will respond to the economic and fiscal forecast published by the Office for Budget
If your company profits sit between £50,000 and £250,000, marginal relief can soften the jump from 19% to 25% Corporation Tax.
The Corporation Tax main rate applies to companies with taxable profits above £250,000 and is currently set at 25%. Companies with profits of up to £50,000 are subject to