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Identity verification: new rules start 18 November 2025
Companies House has confirmed a major change that affects every UK company director and person with significant control (PSC). From 18 November 2025, it will be a legal requirement to verify your identity before you can file your company’s confirmation statement. This...
The Big Picture: Reeves and the £41bn Black Hole
A new analysis from the National Institute of Economic and Social Research (NIESR) has put fresh pressure on Chancellor Rachel Reeves ahead of the upcoming autumn Budget. NIESR is one of the UK’s oldest and most respected independent economic think tanks, established...
What happens if you missed your 31 July payment on account?
If your Self-Assessment required payments on account, the second instalment fell due on 31 July 2025. If it was not paid, HMRC charges late payment interest from 1 August until the amount is cleared. A late payment penalty can also arise if the tax remains unpaid 30...
New HMRC services for Self-Assessment
To support taxpayers, HMRC has introduced new digital services as part of its Transformation Roadmap, making it easier to manage Self-Assessment tax affairs online. What’s new? Easier registration and opt-out for Self-Assessment. Improved on-screen messages to reduce...
New HMRC service gives PAYE workers more control over their taxes
HMRC has launched a new digital service that allows millions of UK workers to take more control over their tax affairs. The tool, available through the Personal Tax Account and HMRC app, is designed for individuals who pay tax through PAYE. It lets users view and...
Inheritance Tax changes confirmed: what it means for business owners and their families
Draft legislation for the Finance Bill 2025-26 confirms a major shake-up to Inheritance Tax (IHT), affecting estates that include business assets, agricultural land, and pension funds. The proposed changes, announced on 21 July, aim to tighten reliefs and bring more...
The best and worst performing sectors in the UK economy
With inflation cooling, interest rates nearing their peak, and a new government in place, the UK economy is showing signs of cautious recovery. However, not all sectors are moving in the same direction. Some industries are bouncing back strongly, while others continue...
Tax rises on the horizon. What to expect in the Autumn 2025 Budget
With the public finances showing structural cracks, thanks to an estimated £20 billion to £30 billion hole in next year’s budget, Chancellor Rachel Reeves is facing an unenviable challenge. The Office for Budget Responsibility has flagged rising debt, pension...
Inheritance Tax proposals spark concern for farming families
Proposed changes to Inheritance Tax (IHT) are causing alarm in the UK farming community. If introduced as expected from April 2026, new rules could see agricultural estates over £1 million subject to 20% IHT, even when the land or business is still being farmed by the...
Slowing growth and rising borrowing – what this means for your busines
Slowing growth and rising borrowing – what this means for your business The UK economy is showing signs of fatigue. Figures released at the end of June confirm that economic growth slowed to 0.7% in the first quarter of 2025. For small business owners, this is more...