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Making Tax Digital changes for the self-employed and landlords

Small business owners across the UK need to prepare for a significant change that will affect how they report their earnings to HMRC.

Does a tourist tax help or hurt local tourism?

Recent months and years have seen more and more areas proposing to introduce a “tourism tax” on visitors. 

Inheritance Tax: Business Property Relief Important Changes

There has been much media attention on the impact of proposed Inheritance Tax (IHT) changes on the farming community but it is important to emphasise that these changes will affect not only farmers, but all businesses including sole traders, partnerships and companies.

Partnership vs company: Choosing the right structure for your farming business

With the basis period reform now fully implemented, alongside changes to Capital Gains Tax and plans to limit Inheritance Tax reliefs, farmers may be faced with the dilemma of determining the most appropriate and tax-efficient way to structure their business.

Farms focus on cashflow following SFI scheme closure

The sudden SFI scheme closure caused anger and frustration among the farming community in March. The Chancellor has since announced a better-than-expected DEFRA budget at the recent Spending Review, which brings some cautious optimism but there remains uncertainty about the future of environmental farming programmes.

New company size thresholds: What it means for your business

The 6th of April 2025 marked more than just the start of a new tax year; it ushered in a significant shift in the UK's regulatory landscape for businesses. New company size thresholds have been introduced, designed to simplify financial reporting and ease the administrative load on companies across the country.

How can businesses combat increased pressure on cash flow and profitability?

The constant volatility in the cost base of many businesses makes it even more important than ever to ensure that business owners have up-to-date cash flow projections in place, and that these are regularly reviewed and updated.

Changes to business rates and targeted retail, hospitality and leisure support

One announcement at the 2024 Autumn Budget, that may well have slipped through the net of some businesses, is the changes to business rates. Businesses will need to ensure that their rateable value for the property is fair and updated.

Furnished holiday letting – changes to tax

From the 6 April 2025, the tax treatment of Furnished Holiday Lets (FHL) changed. Income from these properties is now treated the same as other residential lets.

This is expected to impact 127,000 holiday let owners across the country.

Is your business compliant with new workplace recycling changes?

With businesses focused on accounting for recent employment tax changes, many may be unaware of the introduction of new workplace recycling rules, which came into effect at the end of March.