With the Autumn Budget taking place on 28 October 2026, many UK small business owners will be watching closely for announcements that could affect their finances, tax bills and plans for growth. The Chancellor's statement will set out the government's latest tax and spending plans, alongside updated economic forecasts. Although we won't know exactly what the Budget will mean...
If you're a sole trader or landlord, Making Tax Digital (MTD) for Income Tax could soon change the way you keep your financial records and report your income to HMRC. With six months to go until the next stage of Making Tax Digital begins, HMRC is urging affected businesses and landlords to start preparing now. From 6 April 2027, sole traders and...
Making Tax Digital (MTD) is no longer a future consideration for many UK businesses. It is becoming the new standard for managing tax. Yet recent reports suggest that a significant number of sole traders and landlords who are due to join the scheme have still not registered, leaving many at risk of a last-minute rush before their first...
Keeping on top of tax deadlines is one of the simplest ways to avoid unnecessary penalties, interest charges and last-minute stress. To help you stay organised our Accountants247 team has pulled together some of the key UK tax dates for the coming year that small business owners, sole traders, landlords and employers should keep in mind. July 2026...
Business rates can be a major overhead when you’re running a shop or hospitality business. But the good news is that your business may be eligible for relief on these rates. Retail, hospitality and leisure relief is available for eligible businesses that meet the criteria. And if that’s you, you could be looking at a 75% cut to...
Here’s your breakdown of the major business announcements from the Autumn Statement 2024. A budget to fix the foundations of the economy Rachel Reeves, the Chancellor of the Exchequer, delivered the Autumn Statement on 30 October 2024, saying that this was a budget intended to fix the foundations of the economy, deliver change for working people, mend the...
Keeping up to date with HMRC’s Making Tax Digital initiative is important, whatever size business you run and however you currently record, submit and pay your business taxes. Let’s take a quick look at the goals of Making Tax Digital (MTD), which requirements are currently mandatory and which elements are likely to change in the near future. What...
If you’re domiciled outside of the UK for tax, you’ll need to get yourself up to speed on the recent announcement from the new Labour government regarding ‘non-dom’ status. As the recent policy note from HM Treasury outlines, ‘the government is committed to addressing unfairness in the tax system, so that everyone who is long-term resident in the...
Contracting or freelancing requires you to wear a lot of hats. Relationship-building, keeping track of your time, marketing your skills and actually doing the work. But one of your priorities should also be establishing how you handle your money and setting the groundwork for good habits. Understand your deductions Before you start, it’s essential to understand what expenses...
The days of deciding on a tax strategy at the start of the year and then forgetting about it are gone. As taxpayers and tax advisers, we both have to be nimble, flexible and aware of changes. That’s why regular tax-planning sessions are so important. Is your business meeting the right tax compliance goals? Are there tax changes...
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