‘Bigger’ companies now benefiting from ‘smaller’ status under IR35 rules
If your business engages contractors through personal service companies, changes to the Companies Act 2006 size thresholds could change who’s responsible for IR35 compliance. The changes technically took effect on 6 April 2025, but their impact on the off-payroll working (OPW) rules is only just starting to filter through. Why company size matters for IR35 […]
2026 Property Tax Updates for homeowners and landlords
The current UK property tax landscape brings many challenges and complexities – for both landlords and homeowners. Policy updates, frozen thresholds and a change in government are all contributing to many property owners feeling the pinch, under pressure and uncertain about what’s to come. But knowledge is power – so in this post we’re discussing […]
A Quick Guide to Flexible Working Requests for Employers
” Workers currently have a day one right to request flexible working from their employers”. That’s the message from Acas Chief Executive Niall Mackenzie and it’s been the law since 2024. Every employee can ask to change how, when or where they work, from day one of their employment. This quick guide focuses on keeping […]
Adapting to Change: Surviving with a smile.
Business change is a bit like British weather—constant, unpredictable, and sometimes downright inconvenient. Whether it is market shifts, new tech, or surprise regulations, being able to adapt is the key to staying in the game (and preferably ahead of the competition). Here are six strategies for making change work for your business. Embrace a Growth […]
Autumn Budget 2025: Capital Allowances Changes
Rachel Reeves’ Autumn Budget introduced a number of changes for SMEs including to capital allowances which will affect how businesses plan investment in assets from 2026 onwards. The government has introduced a new 40% first year allowance (FYA) on main rate assets for all businesses from 1 January 2026. On the face of it, this […]
Britain’s innovators backed with £100m of new investment
The government announced around £100 million of new investment for British entrepreneurs, start-ups and scale-ups from 6th April 2026 through an expansion of three existing tax relief schemes: the Enterprise Management Incentives scheme (EMI), the Enterprise Investment Scheme (EIS), and Venture Capital Trusts (VCT). Chancellor Rachel Reeves said: “I am backing business with a more […]
Businesses encouraged to sign up to Cyber Resilience Pledge
The government is urging businesses of all sizes to sign up to a new Cyber Resilience Pledge, as part of a wider effort to strengthen the UK’s defences against a growing wave of cyber threats. Recent figures show that 43% of UK businesses experienced a cyber breach or attack in the past year. With AI […]
Cash is Reality: Protecting Your Business from Late Payments
I have used the mantra “Turnover is sanity, Profit is vanity and Cash is reality” for years. It was drummed into me many moons ago as an accounting trainee. In fact, I have presented a cash improvement workshop to coach business to understand their own cash cycle and where it can be improved to numerous […]
Challenges In The Hospitality Sector
The UK’s hospitality industry – covering restaurants, pubs, bars and hotels and golf clubs – has seen the sharpest rise in job losses since last autumn, according to new analysis. Industry body UKHospitality says that around 89,000 jobs have been lost since October 2024. They have said that hospitality has accounted for more than half […]
Charitable Foundations
We are seeing an increased interest from businesses in setting up charitable foundations. A charitable foundation is just one of the ways in which commercial companies can engage in or support charitable giving. What is a Charitable Foundation? These are charities set up by a corporate entity (or sometimes high net worth families) but are […]
Charities facing financial difficulty
Charities facing financial difficulty News of local charities entering administration in recent weeks will no doubt be unsettling for the sector. These announcements come at a time when the economic environment is tough for charities. Many organisations have been subject to increasing costs and funding pressure whilst at the same time battling with an ever-growing […]
Charity Commission Highlights Key Risks Facing Charities
The Charity Commission has recently published the “Charity Sector Risk Assessment,” which outlines some of the serious risks charities in England and Wales are facing. Drawing on information from annual returns, serious incident reports, and casework, the report highlights various pressures that are impacting many charities. Key Findings from the Risk Assessment Some of the […]
Companies – Be careful who you are associated with.
For some fundamental areas of corporation tax, companies must consider not only their own profits but also which other companies they are associated with. This can impact the rate at which they pay corporation tax and significantly bring forward the due dates for paying it. Corporation tax rate From 1 April 2023, the corporation tax […]
Companies House Accounts Filing Changes Coming in April 2028
Companies House Accounts Filing Changes Coming in April 2028 The government has confirmed how it will reform company accounts filing under the Economic Crime and Corporate Transparency Act 2023. From April 2028, small companies and micro entities will need to file a full profit and loss account, and every UK company will need to file […]
Companies House to bring in changes to accounts filing from April 2028
Reforms to affect micro entity and small company accounts Companies House will introduce changes to accounts filing due to governmental reforms under the Economic Crime and Corporate Transparency Act 2023 (ECCT Act 2023). The changes will now come into effect from April 2028, rather than April 2027, to give companies more time to prepare. The […]
Companies House WebFiling to Switch to GOV.UK One Login
Are you prepared for the change? From 13 October 2025, Companies House will require all businesses to use a GOV.UK One Login to access WebFiling. This change is part of a wider government move to introduce a single, more secure login system across all online services. What’s Changing? From 13 October 2025, you’ll need to […]
Double Cab Pickups – updates and clarification from HMRC
If it looks like a van, is used like a van and is sold as a van, when is it called a ‘car’? When looking at a double cab pick-up from a tax perspective. HMRC have published EIM32151 updating the tax treatment of double cab pickups for benefit in kind purposes. The rule previously followed […]
E-invoicing is becoming mandatory for VAT invoices from 2029 – is your business ready?
From April 2029, all VAT invoices issued in the UK will need to be sent in a structured electronic format. This is one of the most significant changes to VAT administration in a generation and while 2029 might feel like a long way off, there’s a lot of groundwork to be done to meet the […]
Employment Allowance: Rule Change from April 2025 – Are You Now Eligible?
Employment Allowance: Rule Change from April 2025 – Are You Now Eligible? From the 2025/26 tax year onwards, there has been a change to the eligibility criteria for the Employment Allowance. These changes do not apply retrospectively—rules for earlier tax years remain unchanged. The previous restriction that excluded employers with more than £100,000 in total employer National […]
Ensuring your CPD is up-to-date
Continuing Professional Development (CPD) is a fundamental requirement for chartered accountants, ensuring they maintain and enhance the knowledge, skills, and professional competence necessary in a fast-evolving business landscape. CPD enables members to stay informed on regulatory changes, emerging trends, and best practices, while also supporting ethical and effective decision-making. Following the success of its 2024 […]
FRC updates FRS 102 – UK GAAP is changing
The second periodic review, the Periodic Review 2024, was completed in March 2024, with a principal effective date of 1 January 2026. The FRC have now published the latest version of FRS 102 (September 2024). The proposals in FRED 82 have largely all been included in the new standard. Scope The new standard is effective […]
Full expensing for companies – the end of capital allowances complexity?
With the announcement of permanent full expensing for capital expenditure on plant and machinery from 1 April 2023, and the continuation of the £1m Annual Investment Allowance (‘AIA’), companies may be under the impression that capital allowances complexity is a thing of the past. However, there are still a surprising number of rules and pitfalls, […]
Government Launches £16bn National Housing Bank to Support Housebuilding and Regeneration
Government Launches £16bn National Housing Bank to Support Housebuilding and Regeneration The UK Government has announced the creation of a new National Housing Bank, backed by £16 billion in financial capacity, aimed at delivering over 500,000 new homes and unlocking £53 billion of private sector investment. The Bank will operate as a subsidiary of Homes […]
Great news for farmers and family businesses – Agricultural and Business Property Relief Allowance
On 23rd December 2025, the government delivered some great news for farming families and business owners across the UK. The threshold for Agricultural Property Relief (APR) and Business Property Relief (BPR) is set to increase from £1 million to £2.5 million from 6th April 2026. This represents a significant improvement on the reforms originally announced […]
Growth Guarantee Scheme now open for applications
The successor to the Recovery Loan Scheme, the Growth Guarantee Scheme, has now been launched by British Business Bank. The Scheme, which helps smaller businesses in the UK to be able to access finance, opened to applications via accredited lenders on 1 July 2024. The scheme includes access to term loans, overdrafts, asset finance, invoice […]
Helping Hand for Small Businesses Struggling with Debt
If you run a small business or work for yourself, you’ll know that money worries don’t always stay neatly separate from the rest of life. The government has just announced a funding boost aimed at making sure business owners in this position know where to turn, and can get proper advice with debt. Rachel Blake, […]
HMRC’s latest Charter assessment reports service improvements needed
“HMRC is undergoing a significant amount of change as it transitions to becoming a digital first organisation. This continues to cause frustration for taxpayers and agents who can’t deal with their issues through HMRC’s digital services and experience poor quality service when calling or writing to HMRC”. Lindsey Wicks, Senior Tax Technical Manager, ICAEW. The […]
Homes England Compliance Audits 2026/27 – what you need to know
Homes England has now launched its 2026/27 Compliance Audit programme, with providers being notified in May 2026. These audits are a key part of Homes England’s assurance framework. They focus on whether grant funding has been used correctly and whether schemes have been delivered in line with the Capital Funding Guide, grant agreements and programme […]
How a General Election Can Affect Your Business
The buzz about the general election is inescapable and relentless. Tempted to switch off the news? I get it. But hold on—this event could profoundly affect the economic landscape, directly impacting your business. Regardless of the party in power, elections bring uncertainty and change. Here’s a quick rundown of what to watch out for: Economic […]
How might the changes to company size thresholds affect your business?
It was planned that in October 2024, company size thresholds were to increase by 50%. Labour has since confirmed that the changes in company size thresholds will come into effect from the 6 April 2025. But what are the implications of these proposed changes to your company? The Companies Act 2006 makes requirements for what is included […]
Increase to company thresholds
Thresholds based on a company’s accounts and employee numbers determine whether a company is categorised as small or not. Being able to qualify as a small or medium-sized business can cut red tape for a business with a reduced amount of both non-financial and financial reporting a small or medium-sized business is required to do. […]
Insolvency Service has a busy year
The Insolvency Service has published its Annual Report and Accounts for 2025 to 2026, its final report under the current five year strategy before a new strategy launches later this year. Alongside £42.7 million returned to creditors and the wider economy, the report points to a marked step up in enforcement activity, with director conduct […]
Key Business Changes Coming in 2026: What SMEs Need to Know
As one tax year ends, another begins… bringing with it a range of tax changes that SMEs need to be aware of. To help you prepare for the 2026–27 tax year (which starts on 6 April 2026), we’ve created a checklist outlining key business changes and dates for your diary. So let’s get started, shall […]
Managing increasing cyber security risks
Cyber attacks increased in 2025 and affected businesses of all sizes across many sectors. Common threats included ransomware and supply-chain attacks, carried out by actors ranging from state-backed hackers to organised crime groups. These threats are expected to continue into 2026. Artificial intelligence (AI) is influencing cyber security in two ways. Attackers are using AI […]
Mandatory Companies House Identity Verification from 18 November 2025
Reminder: Mandatory Companies House Identity Verification from 18 November 2025 From 18 November 2025, identity verification will become compulsory for all company directors and People with Significant Control (PSCs). The measure is intended to improve the reliability of information on the UK’s company register and support efforts to reduce economic crime. Background Identity verification was […]
MTD for Income Tax & Quarterly Reporting
Making Tax Digital (MTD) for Income Tax comes into effect in April this year for sole traders and landlords with an annual turnover of over £50,000. This threshold is set to reduce to £30,000 in April 2027 and to £20,000 in April 2028. Instead of submitting one annual tax return, individuals will be required to […]
MTD Quarterly Reporting – Will I need to pay my tax quarterly for MTD quarterly reporting??
Following on from our previous blog post ‘MTD for Income Tax & Quarterly Reporting’, we’re answering the question that many self-employed individuals and landlords are worrying themselves with: “Will I need to pay my tax quarterly for MTD quarterly reporting?” And the answer is no – at least not with us. The new Making Tax […]
New Charity SORP Is on the Way: What Trustees and Finance Teams Should Know
If you’re involved with a charity – whether you’re on the board, manage the accounts, or provide support behind the scenes – you may have heard that there are some changes coming to the way charities report their finances. The biggest step in that process has been completed with the consultation into the new Charities […]
New PM, Andy Burnham’s, Tax Plans
In July, Andy Burnham replaced Sir Keir Starmer as the UK’s Prime Minister – coming in with a fresh perspective and some surprising ideas. The new PM has already implemented a handful of changes and implied that a social care reform and higher defence spending are high priorities. So, as the Autumn Budget draws near, […]
New targeted advance assurance service for R&D launched
From 18 May 2026, HMRC has expanded its advance assurance service for Research & Development (R&D) tax relief, allowing eligible small and medium-sized enterprises (SMEs) to obtain clarity on complex or high-risk aspects of a potential claim before submitting it. Advance assurance provides HMRC’s view on how R&D tax relief rules apply to a company’s […]
Our New Stockport Team are the Top Rated Accountancy Firm in Stockport Three Years Running!
We’re delighted to share some fantastic news about Warr & Co, who joined Mitchell Charlesworth earlier this year. They have been named the top rated accountancy firm in Stockport by Three Best Rated for the third year in a row! Three Best Rated independently evaluates businesses based on areas such as reputation, customer satisfaction and […]
Payrolling Benefits in Kind: Replacing the P11D procedure.
The UK government has long sought to streamline the taxation and reporting of benefits in kind (BIKs). As part of these efforts, from 6 April 2026, all employers will be required to payroll BIKs rather than reporting them via the traditional P11D process. While this change aims to bring real-time taxation to benefits, many employers […]
Recent cases from the First Tier Tribunal and how can this help with future R&D claims
Get On Board vs. HMRC and Tills Plus vs. HMRC Both these cases have been decided by the First Tier Tribunal (FTT) in the past month and whilst the outcome for the taxpayers were opposite there are common points we can take from both. Get On Board (GOB) were able to successfully defend the legitimacy […]
Rent Standard 2026 – What the New Rules Mean for Social Landlords
The Regulator of Social Housing (RSH) has published the Rent Standard 2026, following the government’s updated Policy statement on rents for social housing released on 28 January 2026. This marks the start of the government’s new 10-year rent settlement, which will apply from 1 April 2026. While the announcement signals long-term stability, many providers are […]
Securing the Future: How Tax Reliefs Shape the Retirement Dreams of Business Owners
For many small business owners, their venture is more than just a livelihood—it’s their future retirement pension. Entrepreneurs pour their time, energy, and financial resources into building businesses from the ground up, often sacrificing short-term comforts for long-term security. The prospect of selling their business at retirement, benefiting from tax reliefs like Business Asset Disposal […]
Self Assessment Isn’t Just for January. Why Year-Round Tax Planning Saves You Money
Every January, thousands of taxpayers scramble to file their Self Assessment return at the last minute. The HMRC portal opens on 6 April (first day of the new tax year) and you can file almost immediately. Filing early is becoming more common. HMRC recorded a record number of early filers in the 2025/26 tax […]
Starting a new business
Are you thinking about starting a new business? Starting a business in the UK is an exciting venture, but it comes with financial, tax, and accounting responsibilities that you must navigate effectively. Understanding what you will need to do from the outset will help make sure that you don’t miss anything, avoid unnecessary costs, and […]
Statutory Sick Pay (SSP) changes from April 2026
From 6th April 2026, the rules around Statutory Sick Pay (SSP) changed as part of the Employment Rights Act 2025. The changes affect most employers in Great Britain, so it’s worth taking a moment to understand what’s new and whether your payroll and policies are up to date. “No one should have to drag themselves […]
Tax Update 2026: What HMRC’s Changes Mean for Small Business Owners
Tax Update 2026: What HMRC’s Changes Mean for Small Business Owners On 23 June 2026, HMRC published their Tax Update 2026, aimed at simplifying, modernising and adding fairness to the tax and customs system. Most of it is still at consultation stage, but there are already strong indicators of how you’ll be paying, reporting and […]
The Employment Rights Act 2025: preparing your payroll
The Employment Rights Act 2025 is being rolled out in phases across 2026 and into 2027. For SMEs, the priority is making sure payroll systems and processes are ready for the changes as they land. These reforms reflect meaningful improvements to employee rights and most businesses will find compliance straightforward with the right preparation. Here […]
The MTD Clock Is Ticking: What Sole Traders Need To Do Before August
The MTD Clock Is Ticking: What Sole Traders Need To Do Before August Since 6 April 2026, sole traders and landlords with qualifying income over £50,000 have been required to keep digital records and report to HMRC through MTD-compatible software. The deadline for the first quarterly update will be on 7 August 2026 and for […]
Thinking of buying another business? What due diligence should you consider?
When in business, it’s not uncommon to be approached by another business with a view to you buying the business or entering a partnership deal. It might be a competitor that approaches you, or it could be a customer or supplier. Alternatively, you might identify a business that you would like to acquire as part […]
To Infinity and Beyond: Creating a Future for Your Business by Learning from the Present
When Spotify’s founder Daniel Ek announced he was stepping back as CEO after nearly two decades, it made global headlines. The size and sector may differ wildly from a typical UK engineering or manufacturing business. Yet there’s a valuable lesson in his approach: succession isn’t just about leaving, it’s about preparing the business to thrive […]
VAT for Leisure Centres
In March 2023, HMRC announced that local authorities managing in-house leisure centres could treat income from gym memberships and other sporting services as non-business rather than exempt. The benefit being that local authorities have special VAT recovery rules which allow them to reclaim VAT on costs relating directly to non-business income. This puts them at […]
What Tax Changes Can Companies Expect With the New Labour Government?
Following the outcome of the 4th July general election, many businesses will be wondering what the new labour government means for their fiscal future. Tax, as we know, is such a crucial area of business management, and one that we help many of our clients with to ensure they’re avoiding any unnecessary financial losses. From […]
What the UK Digital ID Scheme Means for Your Business
In September 2025, Prime Minister Keir Starmer announced plans for a mandatory digital ID scheme that will fundamentally change how businesses verify employees. The Prime Minister said “Digital ID is an enormous opportunity for the UK. It will make it tougher to work illegally in this country, making our borders more secure.” For small and […]
Who would be an executor nowadays?
Pensions, probate and the brave soul holding the tax calculator There are some questions that sound flattering until you think about them properly. “Will you be my executor?” is one. It has the warm glow of trust and affection. It also has the faint whiff of unpaid administration, personal responsibility and someone asking, two weeks […]
Why every business needs a 12-month profit improvement plan
Many businesses start the year with ambitious sales targets. The problem is that increased sales do not always translate into increased profits. To overcome this problem, a structured 12-month profit improvement plan provides you with an opportunity to examine the factors that drive the financial performance of the business. You can then assess where targeted […]
Changes to UK Company Law and Companies House
Changes to UK company law and Companies House The Economic Crime and Corporate Transparency Act received royal assent on 26 October 2023 and will introduce a number of changes over the next few years. The act gives Companies House the power to play a more significant role in tackling economic crime and supporting economic growth. […]
R&D Changes from April 2024
A little less compensation, a little more admin, R&D relief We have seen an increased focus in the past couple of years from HMRC on reforming R&D, both in the way reliefs are provided and how claims are submitted. For accounting periods 1 April 2024 SME relief will no longer be available to all but […]
Kreston Academies Benchmark Report 2024
Academy Sector Sliding Towards Deficit revealed in 2024 Academies Benchmark Report The 12th annual Kreston UK Academies Benchmark Report has revealed a marked increase in the number of academies dipping into their reserves to keep up with thesignificant cost increases that have hit the sector. Trusts running in-year deficits – where they are spending more […]
Minimum wage rates increase from 1 April 2024
Changes are on the horizon as minimum wage rates are set to increase from 1st April 2024. The increases are substantial and apply across the board to all National Minimum Wage rates and the National Living Wage rate. The minimum wage a worker should get depends on their age and if they are an apprentice. […]
Mastering Cash Flow Forecasting
In the dynamic world of managing a business, one of the most critical elements to success is effective cash flow management. Cash flow forecasting is a fundamental tool for business owners to navigate financial challenges and ensure sustained growth. In this article, we will delve into the importance of cash flow forecasting and talk about […]
Board Governance – What does good look like?
Governance is a term used to describe the trustees’ role in: • the long-term direction of the charity, including its objectives or purposes • implementing policies and activities to achieve objectives• complying with legal requirements • accountability to those with an interest or stake in the charity. Good governance should be embedded throughout a charity. The trustee […]
Managing Conflicts of Interest
Managing conflicts of interest Trustees have a duty to act in the best interest of their charity. There are two common types of conflict of interest: financial conflicts and loyalty conflicts. Financial conflictsThese conflicts happen when a trustee, or person or organisation connected to them, could get money or something else of value from a […]
The Six Legal Responsibilities of a Trustee
To kick off this years Trustees’ Week we are recapping the six legal responsibilities of a trustee. Trustees play a pivotal role in the functioning of charitable organisations. Being a charity trustee offers the opportunity to contribute to a cause you care about and can be very rewarding. However, becoming a trustee involves commitment and […]
Auto-Enrolment extension receives Royal Assent
The Department for Work and Pensions (DWP) has announced a change to the age for automatic enrolment will be lowered from 22 to 18. These reforms also encompass the removal of the lower earnings limit for minimum contributions. This development empowers workers to save more for their pensions over an extended period. Under the new […]
Kreston Charities Report 2023
Mitchell Charlesworth are proud to be part of Kreston Global, a network of accounting firms with a presence in over 120 countries worldwide. We are delighted to be able to share with you the Kreston Charities Report for 2023. The Kreston UK Charity Group works with more than 2,000 charities of various sizes offering a […]
