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The Land Use Framework
Land is the nation’s greatest natural asset, being the source of food, the foundation stone of nature and the support system of the environment on which we rely. It’s the place where we live, work and rest. Due to the climate and biodiversity crises, global shocks and the needs of consumers and businesses, there is…
Government U-Turn on P&L Disclosure
From 1 April 2027, major changes to UK company filing requirements were originally announced as part of the Economic Crime and Corporate Transparency Act (ECCTA). These reforms aimed to improve transparency and reduce economic crime. However, on 3 July 2024, the government announced a U-turn on the most controversial measure: requiring small and micro-entity…
Airbnb and the End of Furnished Holiday Lets
With the holiday season in full swing and many taking a well earned break, attention turns to holidays, whether abroad or in the UK. However, the rules relating to the renting of a ‘holiday home’ have all changed as from 6 April 2025. Now, Airbnb style lettings are taxed under standard residential property rules, bringing…
Making Tax Digital for Income Tax: Agriculture
Making Tax Digital for Income Tax requires self-employed businesses and landlords with qualifying income to maintain digital records and submit tax updates to HMRC using Making Tax Digital – compatible software. Quarterly updates will need to be submitted to HMRC providing a snapshot of income and expenses. These are cumulative so that each submission effectively…
Major Lease Accounting Change: Audit Required?
Could Your Business Be Pushed Into Audit? The Financial Reporting Council (FRC) has issued final amendments to FRS 102, introducing a major overhaul to how leases are accounted for under UK GAAP. While there are a number of amendments to the standard, the most significant for many businesses is the new requirement to bring most…
Farming Group Newsletter: Issue 26
There’s Always Something! Welcome to Issue 26 of our Farming Group Newsletter for Spring/Summer 2025, our first since the shock Inheritance Tax (IHT) announcements were made in the Autumn Budget 2024. Ironically for many, the autumn, winter and spring conditions so far, despite a few pockets of wet and dry spells, have probably been the…
From 2027, Your Profit and Loss Account Goes Public
Key Companies House Filing Changes From 1 April 2027, major changes to company filing requirements will come into force as part of the Economic Crime and Corporate Transparency Act (ECCTA). These reforms aim to increase transparency and reduce economic crime. What’s Changing? Software Only Filing All companies will be required to file their accounts…
Employing Young Workers
Thinking of employing young workers over the summer? Here’s what you need to know… In the UK, a young person is defined as anyone under the age of 18. This would include employees on an apprenticeship, or someone you employ for work experience. Legally, children under the age of 13 are prohibited from…
Funding Opportunity: Grants Available for Fenland Businesses
Funding Opportunity: Grants of up to £25,000 available for Fenland businesses If you’re a business owner in Fenland, now’s the time to explore funding that could help you grow, improve productivity, and create or safeguard jobs. Fenland District Council is offering grants of £5,000 to £25,000 through its ‘Investment in Business’ programme. These grants…
Companies House: Directors ID verification – what should you do?
You may have seen recent emails from Companies House about new identity verification requirements for company directors and people with significant control (PSCs). If the content of the email has worried you — don’t panic. The ID verification is part of new legal changes coming in autumn 2025. These emails are part of a…