Entries by Matthew Johnson

Companies House starts to verify identities

A new service that allows individuals to verify their identity directly with Companies House is up and running. More than six million people will need to comply in the 12 months after identity verification becomes a legal requirement later this year. Anyone setting up, running, owning or controlling a company in the UK will need […]

BiKs payroll reporting is rolled back

The government has announced additional time for businesses to prepare for the introduction of mandatory payrolling for benefits in kind (BiKs) and taxable employment expenses. In a move that will be welcomed by hard-pressed small businesses, mandatory payrolling will be introduced from April 2027 rather than April 2026. HMRC says it has made the change […]

Defence boost but growth forecast falls

Chancellor Rachel Reeves confirmed a £2.2bn defence spending boost in her Spring Statement however it came on the back of a disappointing fall in forecasted economic growth. As widely predicted, there were no further tax increases or surprises for businesses, who were hit hard by the chancellor’s autumn Budget with its employers’ NI hike and […]

NI state pension top-up deadline looms

People looking to maximise their state pension by plugging gaps in their National Insurance record have contributed to a total of 68,673 years, worth £35 million, since April last year. HMRC’s analysis of the digital service available to fill gaps has shown that more than 37,000 online payments have been made. The average online top-up […]

HMRC set to end overtaxing pension issue

HM Revenue and Customs (HMRC) is changing its systems to end emergency taxing pensioners on their retirement savings. It has announced plans to improve tax code processing for people as they start to receive their private pension. The changes, starting in April, aim to ensure people pay the correct amount of tax right from the […]

A tough Budget for business

Keir Starmer warned the Budget was “going to be tough”. He wasn’t wrong when it comes to the impact on business. As widely predicted, employers’ National Insurance contributions were high on chancellor Rachel Reeves target list. And she did not hold back with measures to raise £25bn a year for government coffers. The rise from […]

Business braces for Budget ‘bad news’

The warnings are clear. Prime Minister Keir Starmer has already declared this month’s Budget is “going to be tough”. The only question is: Just how tough? The run-up to October 30 has seen intense speculation on what tax hikes chancellor Rachel Reeves will announce when she stands up in the Commons to deliver her speech. […]

Tax relief cut’s negative impact on the rental sector

A new report has highlighted the damage done to the private rental sector by taxation that its authors say has hindered investment and contributed to skyrocketing rents.   The Propertymark report examines the impact of Section 24, which was implemented by former chancellor George Osborne to cut the available tax relief on mortgage interest costs and […]

Insolvencies on the rise

Corporate and personal insolvency levels in England and Wales rose in June, with experts warning of a challenging trading environment and creditors taking a tougher stance. In the North West, there were 2,361 corporate insolvencies in the month, a rise of 15.7 per cent compared to May and an increase of just over 17 per […]

Taxman ‘must do better’

A damning report by the UK’s public spending watchdog has declared that taxpayers are being let down by poor HMRC customer service. The National Audit Office (NAO) says HMRC has been caught in “a declining spiral of service pressures and cuts.” The stark findings have led to calls from small business for “urgent improvement” in […]