NEWS Catch up with the latest in accounting news

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Catch up on the latest news in accounting here, from cutting edge bookkeeping technology to self-assessment updates.

£13.9bn of R&D funding

£ bn of R&D funding

The UK government has announced a record-breaking £13.9 billion in research and development (R&D) funding for the coming year. This major investment is designed to drive innovation, create quality

UK Responds to New US Tariffs

UK Responds to New US Tariffs

The UK’s Business and Trade Secretary, Jonathan Reynolds, has set out the government’s position following the United States’ recent imposition of new tariffs on UK exports. These include a 10%

Tax Diary May/June 2025

Tax Diary May/June

1 May 2025 – Due date for corporation tax due for the year ended 30 July 2024.

19 May 2025 – PAYE and NIC deductions due for month ended 5 May 2025. (If you pay your tax electronically the due date

Employment Restrictions After Termination: Be Cautious

Be wary of the legitimacy of post termination employment restrictions – they may not be reasonable or enforceable

Kau Media Group (KMG) Ltd. sought to enforce two post-termination employment restriction (PTRs) contained in a contract of employment to restrict Mr. Hart, a former employee, from working for his

Make the most of trivial benefit payments 2025-26

Make the most of trivial benefit payments

Small gifts can mean big tax savings! Use the trivial benefits exemption in 2025-26 to reward employees with non-cash perks under £50 – no PAYE, no P11D, and no NIC. A smart, simple way to say

Filing ATED return April 2025

Filing ATED return April

From April 2025, updated ATED rates apply to residential properties held by companies and other Non-Natural Persons (NNPs). Make sure returns and payments are submitted by 30 April to avoid penalties.

Checking your tax code for 2025-26

Checking your tax code for

Do you know what your 2025-26 tax code means? It affects how much tax is taken from your pay or pension. Check now to make sure you’re on the right code and not overpaying! Here’s what the letters and

Frozen tax allowances and fiscal drag

Frozen tax allowances and fiscal drag

Tax thresholds frozen till 2028? That’s fiscal drag in action – more tax paid without rate rises. It’s a stealthy revenue boost for HM Treasury, projected to bring in £38bn a year by 2029. Inflation

Don’t forget to update your NMW and NLW wage rates

Don’t forget to update your NMW and NLW wage rates

Minimum wage rates rose on 1 April 2025. NLW now £12.21, and big increases for younger workers too. Make sure you’re compliant – underpayment can cost up to £20K per worker and a director ban. Time to

Child Benefit increases April 2025

Child Benefit increases April

Child Benefit has risen for 2025-26: £26.05 for eldest, £17.25 for others. Claim continues to age 20 in approved education. HICBC still applies for incomes over £60K – but PAYE option coming this

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