HMRC has scrapped plans for Making Tax Digital (MTD) to include corporation tax. However, new digital services will be rolled out over 2025/26, as outlined in its recently published transformation roadmap. MTD for corporation tax…
Crypto transactions under new scrutiny
From 1 January 2026, crypto investors will face new reporting requirements when buying, selling, transferring or exchanging cryptoassets, such as Bitcoin. This means HMRC will be able to link cryptoasset activity to your tax record.…
An ominous update for pensions
Unfortunately, it’s all bad news. The government has confirmed that most unused pensions will fall within the scope of inheritance tax (IHT), and that it will review the State pension age (SPA). On top of…
Pre-emptive validation orders in insolvency proceedings
Advanced warning; I'm about to bang on (again) about s.127(1) of the insolvency Act 1986, and what it means for companies faced with the presentation of a winding up petition. For those not in the…
Will reform proposals – time to revise Victorian rules
The Law Commission has made a variety of proposals to reform the law governing wills in England and Wales. What were you doing in 1837? Of course, the question is rhetorical. For you, the reader,…
Businesses take stock of increased costs
April’s National Insurance Contributions (NICs) and minimum wage increases are having a major impact on businesses, with around half freezing pay. Many owners are even also considering moving their business abroad to avoid the UK’s…
Nearly £50 billion missing in tax take
The latest estimate of the tax gap shows that missing taxes are approaching £46.8 billion, with some 5.3% of total taxes going unpaid. These figures are for 2023/24. HMRC will be particularly concerned that small…
Changes to company accounts on the horizon
Company directors need to be aware of important changes to be implemented by Companies House from 1 April 2027. Digital software Directors who submit their company accounts themselves, rather than using an agent, will no…
A good time to become a landlord?
While positive changes are on the horizon for the buy-to-let market, with a record number of mortgage deals coupled with lower interest rates, is it a good time to become a landlord in England? Cons…
Company Voluntary Arrangement: What, Why, When?
I had an interesting meeting with the head of services for a local authority nervous about my client’s financial status following its entering into a Company Voluntary Arrangement (“CVA”). The client’s contract with the local…