Latest Blogs

The Ministry of Justice has announced an increase to Probate Fees.  This came into effect on 13 July.   To apply for a Grant of Probate for any estate with a value of more than £5,000 now costs £526 (rather than £300 which it had been since May 2024), an increase of 75%   The…

From the 2025/26 tax year, HMRC has introduced significant changes to how dividends from close companies are reported on Self-Assessment tax returns. These reforms are aimed at increasing transparency around owner-managed businesses and ensuring more accurate reporting of income.   What is a Close Company? A close company is broadly defined as a company controlled…

On Tuesday 7th July, colleagues from our Bury St Edmunds office came together for a sports evening and BBQ at the British Sugar Sports and Recreational Ground.   We were fortunate to have excellent weather for the event, which saw four teams of four compete across a range of activities. Each participant took part in…

Overview From 6 April 2025, pensioners with total income exceeding £35,000, and who are not in receipt of a qualifying benefit, will be required to repay their Winter Fuel Payment (or Pension Age Winter Heating Payment in Scotland). HMRC have outlined steps to be taken for individuals affected by this.   Where a Charge is…

How Geopolitical Events Influence Global Stock Markets – And Why Staying Invested Often Wins Global markets dislike surprises. Whether it’s a sudden conflict, a major election upset, trade tensions, sanctions, or diplomatic breakdowns, geopolitical events inject uncertainty – and uncertainty is the fuel that drives market volatility. Investors see headlines, markets wobble, and the instinctive…

What is the Foreign Income and Gains (FIG) regime? The 2024 Spring Budget stated there would be changes to the domicile-based system of taxation from 6 April 2025 . From this date, the Remittance Basis was abolished, and a new approach adopted based on residence. We now know this to be the FIG regime.  …

The Government has announced £47 million of funding to be used to protect and improve peatlands in England. As peatlands sequester significant amounts of carbon this will help reduce the country’s carbon emissions, as well as protect rural communities from flooding and wildfires.   Currently, the majority of the peatlands in England are dry and…

The government has unveiled a package of proposed tax and customs reforms designed to reduce administrative burdens, improve fairness and certainty, and modernise HMRC’s systems. Whilst many of the measures are currently open to consultation, they provide a clear indication of the government’s direction and are worth keeping on the radar. What are the Proposed…

The first quarter for Making Tax Digital has ended and it is time to make that first submission. The first quarter ending 30th June/ 5th July 2026 has ended now and your first submission is due to be submitted to HMRC by 7th August 2026.   Do I need to make a submission? If you…

(data source) As we pass the half way point in 2026 we now have enough data to re-assess the financial health of our SME business clients.   Following the April 2025 double inflation increases in National Minimum Wage and higher Employer’s NIC rates, SME’s have had new ‘uncontrollables’ to deal with. As business owners try…