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Updates to Making Tax Digital for Income Tax

The Chancellor Rachel Reeves included updates within the Spring Statement to Making Tax Digital (MTD) for Income Tax, expanding its reach to include a wider range of small businesses.

Airbnb, Amazon, Vinted and Etsy sellers – have you registered your ‘side hustle?’

Individuals receiving additional income from side hustles are being urged to report to HMRC if they bring in more than the annual Trading Allowance, which allows individuals to earn up to £1,000 additional tax free income each tax year.

How can law firms manage lock-up in 2025?

Effective management of lock-up is crucial to maintaining a law firm’s financial health. Over recent years there has been a steady increase in lock-up periods and so it is more important than ever that firms have strategies in place to improve their cash flow and maintain stability.

Tax issues for farm landlords and tenants

There are various tax issues that arise in relation to transactions between landlords and farm tenants, and the Inheritance Tax (IHT) changes announced in the 2024 Autumn Budget will bring huge challenges for both parties.

Reflections on the 2024 Academy Reporting Season and Top Tips for 2025

Looking forward to the 2025 academy reporting season, there are a few key areas to consider that can improve the process and ensure compliance.

Armstrong Watson urges Government to rethink IHT increase on farmers in new report

Armstrong Watson is among a group of accounting firms across England and Scotland who have raised concerns about the wider impact of Rachel Reeves’ proposals to cap Inheritance Tax (IHT) reliefs for agricultural and business property.

Kitchen Rivals presents unique insight into hospitality business for sector lead

Armstrong Watson's Matt Hutton works closely with many hospitality businesses but was given a unique insight into the sector when he took part in the Kitchen Rivals charity event in Cumbria. 

Six tips for a successful business expansion in 2025

Every business looking to expand needs to have a detailed vision of what it wants to achieve – whether this is expanding into new markets, attracting new customers, developing new products or services, or acquiring another business.

To do this successfully there are a few things to consider:

Scottish Budget: Income tax band increases

Among the SNP’s Scottish Budget proposals for the coming tax year, Finance Secretary Shona Robison announced increases to the income tax starter rate and basic rate thresholds, however these small tax savings do very little to ease the pain of fiscal drag for many.

How much will your salary bill increase from April 2025? Download our free Forecasting Tool

Changes announced in the 2024 Autumn Budget will significantly impact employer wage bills from April 2025.