The mandatory use of software for Making Tax Digital for Income Tax Self-Assessment is being phased in from April 2026.

In 2022, despite the troubles with the economy, we have been amazed at the resilience of our clients and how they have energetically moved their businesses into new areas, products and services. Many of our clients have redesigned delivery and payment systems, moved their entire processes digital, accepted remote working and adopted to new technologies to survive and indeed prosper.

Millions of employees will be able to request flexible working from day one of their employment, under new government plans to make flexible working the default.

The Payment and Cash Flow review will scrutinise existing payment practices and the measures in place to make sure small firms are not ripped off by their larger clients – with over £23.4 billion currently owed in outstanding invoices to UK businesses.

We were finally getting over the financial crisis when Covid struck. Then, in the trough of the worst economic downturn in 300 years, we discovered that recovery was driving the FTSE to new heights and the job market into a frenzy. In the wake of that, it became clear that the recovery was overheating and that we are now facing a period of rising inflation and industrial action.

How HMRC assesses profits for sole traders and partnerships who use an accounting date between 6 April and 30 March will change from 6 April 2023. This change will not affect companies.

Royal Mail are adding barcodes to their regular stamps. After 31 January 2023, regular stamps without a barcode will no longer be valid. You can either use up these stamps before the deadline or swap them for the new barcoded ones.

On Thursday 17 November, the Chancellor presented the government’s Autumn Statement in which he told the House of Commons his plans to tackle the cost-of-living crisis, "rebuild our economy" and significantly reduce borrowing over the coming years.

Weather and other disruptions can happen anywhere at any time. Taking time to plan and prepare your business can save you time and money when something untoward happens.

Times are tough and they are likely to remain challenging for many businesses. History shows us that only when things are difficult does genuine quality rise to the surface.

Throughout this week, the British Business Bank, along with business support partners from across the UK, are working together to host the inaugural Business Finance Week 2022.

The valuation of business goodwill for tax purposes is very subjective and is often a contentious area. HMRC have recently updated their guidance in their Shares and Assets Valuation Manual.

The National Cyber Security Centre (NCSC) has published new guidance to help organisations effectively assess and gain confidence in the cyber security of their supply chains.

A new period of this government begins for us all, again! We have a new Prime Minister, Rishi Sunak and a new cabinet facing the toughest economic conditions in decades.

Innovation has generally been recognised as essential for value creation, both for individual companies and for the UK economy as a whole. The development of new ideas, processes and technologies and their flow across different sectors is a significant driver of economic growth and productivity. Recently, innovation has also been identified as crucial to the transition of the economy away from fossil fuels and carbon-intensive business activities.

Selling a business is a huge endeavour. And so it should be. After investing countless hours into building your business, you want to ensure a smooth and successful transition throughout this final phase of your business journey.

Over the last few days, we have seen a gradual dismantling of the mini-budget of Friday 23 September 2022, along with the economic policies that Prime Minister Liz Truss based her leadership campaign on.

Self-employed businesses, partnerships and landlords with annual gross business or property income above £10,000 will need to follow the rules for MTD for Income Tax from their next accounting period starting on or after 6 April 2024.

Retail sales fell steeply in August as the rising cost of living put pressure on households, figures show. According to the Office for National Statistics (ONS), sales fell by 1.6% which is much larger than economists predicted, continuing a fall since the summer of 2021.

Facing huge criticism and market turbulence following his announcement of a series of “growth” measures, Chancellor Kwasi Kwarteng has backtracked on his decision to abolish the 45p rate of income tax paid by people earning more than £150,000 a year. The proposal to scrap the rate had been criticised as unfair at this time of rising living costs.