Latest General Practice

Following previous updates, Companies House has now confirmed the timeline and requirements for mandatory identity verification, which will begin on 18 November 2025.   This initiative, which is part of the Economic Crime and Corporate Transparency Act, aims to improve the accuracy of the companies register and reduce fraud. It is expected to affect around 6–7 million individuals.…

IHT on pensions pushing ahead, more burden placed on personal representatives.   On 21 July the Government released draft legislation on the changes to Inheritance Tax (IHT) in bringing unused pension funds into the charge to IHT from 6 April 2027.   These changes include both UK registered pension schemes and certain non-UK pension schemes,…

There is a vast array of options available to business owners when choosing accounting software. Choosing the right software for you and the business is an important decision, how well you work with and understand your chosen software can make bookkeeping a chore or a simple task.   What should you be looking for when…

Are We Nearly There Yet? Well, yes is the answer and Making Tax Digital for Income Tax (MTD for IT) will finally begin from 6 April 2026, when it becomes mandatory for landlords and the self-employed whose gross income is over £50,000 in the tax year just passed 2024/25, with the introduction of quarterly returns.…

Farming can happen under many different arrangements. Whether that’s in-house, a tenancy where a landowner lets their land to another to farm, a Contract Farming Agreement (CFA) between a landowner (or tenant farmer) and a contractor, casual contracting on an ad hoc basis or machinery sharing. It’s important to understand each option to consider which…

What is a HMRC Nudge Letter? HMRC have been using nudge letters since 2017 to encourage taxpayers to check their previously declared taxable income and submitted returns. These are used to help identify whether there is any undeclared taxable income. A nudge letter is a type of communication that HMRC use to encourage individuals or…

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…

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…

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 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…