Latest blogs for Specialisms

Set in Stone… or at least, paper. On 21st July 2025 the government published the long-awaited policy paper on changes to Inheritance Tax Agricultural Property Relief (APR) and Business Property Relief (BPR) following the Autumn 2024 Budget.   Despite much lobbying from farmers, professionals and industry leaders, and indeed a lot of wishful thinking, there…

The Government is proposing to overhaul the leasehold sector and has recently published a White Paper on the matter. They are proposing to abolish the leasehold tenure and replace this with a form of property ownership called commonhold.   Commonhold is a form of freehold which will remove the need for a freehold landlord. Common…

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…

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…

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…

Farmers have received subsidies for a considerable amount of time, with roots tracing back to the post-World War II era, but with the Basic Payment Scheme (BPS) ceasing in 2027 and the Sustainable Farming Incentive (SFI) being paused for new applications, at the time of writing, it is crucial that all elements of grants and…