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Business Confidence Falls Again as Tax Concerns Reach Five‑Year High
| 03-02-2026
The latest Business Confidence Monitor, an Institute of Chartered Accountants in England and Wales survey, shows confidence continuing to fall. Confidence has now fallen for six consecutive quarters and is now at its
VAT Flat Rate Scheme: Could It Work for You?
| 03-02-2026
If you are a small VAT-registered business, how you calculate your VAT could make a real difference to your cash flow and the time you spend keeping records. For some businesses, the standard method for calculating
Business Rates Relief for Pubs and Live Music Venues
| 03-02-2026
It has been announced that eligible pubs and live music venues in England will receive a 15% discount on their business rates bills in 2026/27. Rates bills will then be frozen in real terms for a further two years.
Small Business Britain Launches ‘Small and Mighty Enterprise Programme’ to Support Small Businesses
| 27-01-2026
Small Business Britain is set to roll out its Small and Mighty Enterprise Programme, a six-week online
Private sector pay growth slows to five-year low
| 27-01-2026
UK wage growth eased to 4.5% between September and November 2025, according to the Office for National Statistics, reflecting a notable slowdown in private sector pay.
Nearly 500 employers fined over National Minimum Wage breaches
| 27-01-2026
Almost 500 UK employers have been fined a total of £10.2 million for failing to pay the National Minimum Wage (NMW), with £6 million returned to 42,000 workers.
Why Management Skills Matter More Than Ever for Business Owners
| 27-01-2026
Many people start a business because they are good at what they do. A great designer sets up on their own. A skilled electrician goes self-employed.
New to Self Assessment Tax? Here’s an Explainer
| 19-01-2026
If you are new to being self-employed or being a landlord, Self Assessment can feel like one of those jobs you know you should understand better, but never quite get around to. When do you actually pay the tax?
Auto-Enrolment Pension Thresholds to Stay the Same in 2026/27
| 13-01-2026
The Department of Work and Pensions (DWP) has confirmed that all key auto-enrolment pension thresholds will remain unchanged for 2026/27.
Spring Forecast Scheduled for 3 March 2026
| 13-01-2026
The Chancellor, Rachel Reeves, has requested the Office for Budget Responsibility (OBR) to publish an economic and fiscal forecast on 3 March 2026.
Chancellor Increases Agricultural and Business Property Relief Allowance to £2.5 Million
| 13-01-2026
In a surprise move, the government announced a major change to the agricultural property relief (APR)
Looking ahead to 2026: reflections for business owners
| 29-12-2025
With 2025 coming to a close, you may already be starting to reflect on how the year unfolded in your business. Your expectations may have been exceeded in some areas.
Self-Assessment: A Reminder That You Can Spread Your Tax Payments
| 16-12-2025
With the festive season underway and household budgets feeling the pressure, it may be useful to know that if you are worried about paying your tax bill in one
Changes in Funding to Apprenticeships
| 16-12-2025
The Government has announced a £725 million package of reforms aimed at increasing apprenticeship and training opportunities for young people. While much of the announcement centres on tackling youth
Budget 2025: What Businesses Can Take from the OBR’s Verdict on Growth
| 16-12-2025
The latest Budget was packed with policy announcements, but according to the Office for Budget Responsibility (OBR),
2026 Business Rates Revaluation Completed
| 09-12-2025
If your business is based in England and Wales, you can now view the future rateable value of your property. The Valuation Office Agency (VOA) has completed
High-Value Council Tax Surcharge: Next Steps
| 09-12-2025
The government has announced plans to introduce a new levy, the High-Value Council Tax Surcharge (HVCTS), for owners of residential properties in England
Self Assessment Deadline Approaching – Are You Ready?
| 09-12-2025
The deadline for filing your 2024/25 Self Assessment tax return is fast approaching. You must submit your return and pay

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The latest Business Confidence Monitor, an Institute of Chartered Accountants in England and Wales survey, shows confidence continuing to fall. Confidence has now fallen for six consecutive quarters and is now at its lowest since the final three months of 2022. The survey, which gathered views from 1,000 business leaders, shows growing concern over tax complexity and the wider outlook for business activity. Tax pressures rising A record 64% of businesses said the tax burden was becoming a greater challenge, up from 60% in the previous quarter. According to the report, this reflected uncertainty over what tax changes might be included in the Autumn Budget 2025, combined with the effects of previous tax rises feeding through. Regulation was the second biggest reported challenge, with 51% of businesses saying it was holding back performance. Many cited the Employment Rights Bill as a contributing factor. Differences between sectors Some sectors remain noticeably more pessimistic. Property, retail and wholesale continue to show the weakest sentiment, with construction close behind. Exporters, however, were more upbeat than non‑exporters. IT and communications was the only sector to report a positive score, at +0.3. Employment and pay trends Employment growth slowed to 0.8% in the quarter, the lowest figure since mid‑2021. Manufacturing and engineering, retail and wholesale and transport reduced their headcount as 2025 ended. However, it seems that transport and storage are the only sectors expecting to cut jobs further during 2026. Salary growth also eased to 2.9%. This is still above pre‑pandemic levels but lower than the rises seen in recent years. The expectation is for pay to increase at a similar pace over the next 12 months. Sales expectations improving Despite the fall in overall confidence, there are some bright spots. Expectations for domestic sales improved for the first time since 2024, even though actual growth slowed slightly to 2.9%. Export sales growth rose to 2.5% and is also expected to continue improving in 2026. Capital investment grew modestly to 2%, although businesses expect to slow their spending plans over the coming year. What this means for your business The report paints a picture of businesses managing rising costs while holding back on hiring and major investments. At the same time, the slight improvement in sales expectations suggests many firms are cautiously optimistic about trading conditions in 2026. If you would like to review how these economic trends might affect your business plans, particularly around staffing, investment or cash flow, please feel free to get in touch. We would be happy to help you! See: https://www.icaew.com/insights/viewpoints-on-the-news/2026/jan-2026/tax-worries-pull-business-confidence-further-into-negative-territory

If you are a small VAT-registered business, how you calculate your VAT could make a real difference to your cash flow and the time you spend keeping records.

For some businesses, the standard method for calculating VAT is the best choice, but for others, their circumstances mean the VAT Flat Rate Scheme may be worth considering.

Here we review some of the factors involved in determining whether the VAT Flat Rate Scheme could work for you.

Comparing methods

Under the standard method you charge VAT on your sales and reclaim VAT on your purchases. You then pay the difference to HM Revenue & Customs (HMRC).

The Flat Rate Scheme uses a different calculation. You still charge your customers the usual VAT rate. However, instead of reclaiming VAT on most purchases, you pay a fixed percentage of your VAT-inclusive turnover to HMRC. The percentage amount depends on the industry your business belongs to.

Eligibility rules apply. Businesses may be able to join the VAT Flat Rate Scheme if their VAT turnover is £150,000 or less (excluding VAT).

When the Flat Rate Scheme might help

The Scheme can work well for businesses when VAT-able expenses are low. For example, a consultant or designer who mainly sells their time may find the flat rate percentage more favourable than reclaiming VAT under the standard method.

Some business owners also prefer the simplicity. Because you don’t claim VAT on purchases, other than certain capital assets over £2,000, the calculations can be quicker.

When the standard method may be better

If your business regularly buys goods or services with VAT on them, reclaiming VAT through the standard method is often more cost-effective. The same can be true if you regularly make larger purchases.

Choosing a method

The best way to be sure which method is right for you is to run the numbers and compare.

If you would like advice on whether the Flat Rate Scheme is right for you, give us a call. We are happy to help!

It has been announced that eligible pubs and live music venues in England will receive a 15% discount on their business rates bills in 2026/27. Rates bills will then be frozen in real terms for a further two years.

The British Beer and Pub Association (BBPA) has said that pub landlords will breathe a sigh of relief and that the relief will “stave off the immediate financial threat posed by accelerating business costs.”

Wider concerns remain over the challenge of rising costs and squeezed profit margins.

Which pubs are eligible?

To be eligible, a pub must meet all of the following criteria.

Businesses that will be specifically excluded are:

The government has advised local authorities that the above list is not intended to be exhaustive, and the local authority will have discretion to make the determination where eligibility is unclear.

The intent of the policy is to benefit pubs that would be classified as such by the natural meaning of the word. Being owned and operated by a brewery would be one example of this.

Which live music venues are eligible?

Properties that are wholly or mainly used for the performance of live music to entertain an audience will qualify for the relief.

The property is still likely to qualify if it is used for other ancillary activities, such as the sale of food and drink to audience members or is infrequently used in a way that does not affect its primary use, such as use as a polling station or fortnightly community event.

A property that is wholly or mainly used as a nightclub or theatre under the Town and Country Planning (Use Classes) Order 1987 (as amended) will not be considered to be a live music venue for the purposes of the relief.

What is the position in Scotland, Wales and Northern Ireland?

Business rates are devolved in Scotland, Wales and Northern Ireland.

The Welsh government has already indicated that it will explore whether additional support for pubs is needed once the final details of the announcement are known.

See: https://www.bbc.co.uk/news/articles/c78vqj99168o

Small Business Britain is set to roll out its Small and Mighty Enterprise Programme, a six-week online course designed to help sole traders and micro businesses unlock growth opportunities.

The programme combines expert guidance, mentoring, and practical resources to equip participants with a twelve-month action plan to grow and flourish over the next year. Delivered entirely online, it offers flexible learning accessible from anywhere in the UK, making it suitable for business owners with busy schedules.

Key features of the programme include:

The course runs from 2 February to 9 March 2026, with sessions held every Monday at 10am.

Small business owners looking to develop their skills, expand their networks, and plan for growth can find more information and register via the Small & Mighty Enterprise Programme Registration page.

UK wage growth eased to 4.5% between September and November 2025, according to the Office for National Statistics, reflecting a notable slowdown in private sector pay.

Pay in private businesses rose just 3.6%, the lowest rate in five years. Public sector wages increased 7.9%, however, the ONS has said that this was likely due to pay awards being brought forward when compared with the previous year.

The labour market showed further signs of cooling. The number of people on company payrolls fell by 135,000, with the decline concentrated in retail and hospitality.

Youth unemployment for 16-24-year-olds remained elevated at 15.9%, while overall unemployment held at 5.1%, the highest since early 2021.

Are there any takeaways for businesses?

Economists have interpreted slower private sector pay growth as something that will ease inflationary pressures, which may help in further cuts to interest rates.

Slower private sector pay growth suggests that there could be some relief to wage pressures over the next few months, although with an increase to national minimum wage rates coming in April, hiring is unlikely to get cheaper.

The weaker hiring activity by retail and hospitality businesses suggests that consumers are feeling the pinch, which could have implications for sales income for many businesses.

See: https://www.bbc.co.uk/news/articles/cddgrg87ly5o

Almost 500 UK employers have been fined a total of £10.2 million for failing to pay the National Minimum Wage (NMW), with £6 million returned to 42,000 workers.

The list of named employers includes well-known high-street brands, indicating that businesses of all sizes can have difficulties in applying the minimum wage rules correctly. 

Implications for employers

For businesses, this latest naming round highlights the ongoing scrutiny there is on minimum wage compliance.

The NMW and National Living Wage rates increased earlier this year, with a further rise planned from April 2026. As a reminder, the rates are:

  2025 rate 2026 rate
National Living Wage (21+) £12.21 £12.71
18-20 £10.00 £10.85
Under 18 £7.55 £8.00
Apprentice £7.55 £8.00

 

Failing to pay workers correctly can lead not only to fines but also risks harm to the business’s reputation.

With employees being encouraged to obtain advice from Acas or complain to HM Revenue & Customs (HMRC), it is an important area to get right.

Strengthening enforcement

The government plans to expand oversight of labour standards in 2026 with the creation of a Fair Work Agency as part of the new Employment Rights Bill. The agency will have powers to address employers who underpay workers and fail to pay holiday and sick pay.

If you need help with your payroll and ensuring that your staff are paid correctly, please get in touch. We would be happy to help you!

See: https://www.gov.uk/government/news/expansion-of-support-scheme-to-help-thousands-of-people-back-into-work

Many people start a business because they are good at what they do. A great designer sets up on their own. A skilled electrician goes self-employed. A consultant turns expertise into income. What often comes later is realising that running a business and doing the work are two very different jobs.

As a business grows, management skills become just as important as technical ability for the success of the business.

What management really means in a small business

In a smaller business, management is not about hierarchy or job titles. It is about how work gets organised and how people, including you, are supported.

Good management often shows up in quite simple, everyday ways. For instance:

Firefighting, missed deadlines, confused roles, work being redone, or feeling constantly stretched can all be signs of a need to improve how the business is being managed. These kinds of issues do not usually come from a lack of effort; they come from a lack of structure.

Why management skills often get overlooked

Management skills often fall down the priority list because time is tight and client or customer work comes first. Or it may be that managing people feels uncomfortable or unfamiliar.

However, not addressing how the business is managed means you can end up stuck in the day-to-day, with little capacity to focus on growing the business or carrying out long-term planning.

How improving management skills helps your business

Businesses with clearer management tend to:

Even small changes, such as regularly checking in with staff or having clearer task planning, can have a noticeable impact.

Practical ways to build management skills

Improving management does not require formal qualifications or years of experience. For many business owners, they make progress by:

Just like with any other part of the business, management can be learned and improved over time.

A final thought

Good management and proper controls are vital for business success. Having the best idea in the world is only half the story. It is management skills that will make the idea work and keep you and your staff happy along the way.

If you are new to being self-employed or being a landlord, Self Assessment can feel like one of those jobs you know you should understand better, but never quite get around to.

When do you actually pay the tax? Why does January seem to be so expensive? And what on earth is a “payment on account”?

In this article, we’ll walk you through how Self Assessment tax payments work in practice, the key dates to watch, and how to avoid nasty surprises by planning ahead.

Understanding Self Assessment payments

Once your tax return is completed and filed, HM Revenue & Customs (HMRC) calculate how much tax you owe on all income you have earned outside of PAYE. Unlike tax taken automatically from a salary, you are responsible for paying the tax yourself. That is why knowing the deadlines is crucial.

For most people, there are two main types of payments to make each year:

  1. Payment on account – This is essentially a prepayment for your next year’s tax. When your tax bill for a year is over £1,000, HMRC will require you to make two equal payments on 31 January and 31 July. Think of it like a deposit on your tax bill.
  1. Balancing payment – This is the top-up for anything left over once your tax return is finalised and submitted. It’s due by 31 January following the end of the tax year.

For example, say your tax bill for 2023/24 was £3,000. You will likely have paid £1,500 on 31 January 2025 and another £1,500 on 31 July 2025 as payments on account. Then, if your tax bill for 2024/25 is £3,200, you will pay the £200 balancing payment on 31 January 2026. You will also pay a £1,600 payment on account against the next year’s tax bill on the same date, which means you would pay a total of £1,800 on 31 January 2026.

If you are new to Self Assessment, then you probably will not have made any payments on account for the first tax year that you file a tax return for. So, you will need to pay the full balance for the entire tax year on the 31 January following the tax year end.

In other words, if your tax bill for 2024/25 is £3,200, you’ll need to pay £3,200 on 31 January 2026. You’ll also pay a £1,600 payment on account against the next year’s tax bill on the same date, which means you’d pay a total of £4,800.

No wonder January can feel so expensive!

How to pay

Paying is straightforward once you know the methods.

These days most people pay online through their HMRC account by bank transfer or by debit card. You can also use the HMRC app to pay your bill through your bank’s app or by using online banking.

You just need the reference numbers to make sure the money goes to the right place.

Avoiding surprises

Late or missing payments can lead to penalties and interest charges, so planning ahead is essential. A good tip is to set up a calendar reminder so that you don’t forget to make the payment on time.

Keeping a separate pot of money for tax that you save each month can also prevent you from scrambling at the last minute.

If you need help completing your tax return or want advice on paying tax, please get in touch. We would be happy to help you!

See: https://www.gov.uk/government/news/65-rise-in-self-assessment-payments-via-the-hmrc-app

The Department of Work and Pensions (DWP) has confirmed that all key auto-enrolment pension thresholds will remain unchanged for 2026/27.

This means:

These thresholds determine which employees are eligible for automatic enrolment and the portion of earnings in respect of which contributions need to be made.

Employees who earn less than the earnings trigger can still opt in to their employer’s workplace pension. It’s important to remember that if they earn between the lower earnings limit and enrol, the earnings trigger a mandatory employer contribution.

With thresholds unchanged, this should mean there is no need to adjust your payroll systems or processes in the coming year.

If you would like support with your payroll system and auto-enrolment, please give us a call. We would be happy to help you!

See: https://www.gov.uk/government/publications/review-of-the-automatic-enrolment-earnings-trigger-and-qualifying-earnings-band-for-202627/review-of-the-automatic-enrolment-earnings-trigger-and-qualifying-earnings-band-for-202627

The Chancellor, Rachel Reeves, has requested the Office for Budget Responsibility (OBR) to publish an economic and fiscal forecast on 3 March 2026. This will be accompanied by a statement to Parliament.

As set out in the Budget, the Spring forecast will provide an interim update on the economy and public finances, rather than assessing the government’s performance against the fiscal mandate.

This means the forecast is unlikely to result in changes to tax policy, however, the full details will only be completely clear once the forecast is published and the Chancellor has responded. We will, of course, keep you updated once the forecast is published.

See: https://www.gov.uk/government/news/chancellor-announces-date-of-spring-forecast

In a surprise move, the government announced a major change to the agricultural property relief (APR) and business property relief (BPR) reforms that will take effect from 6 April 2026.

The full 100% relief from inheritance tax will now apply to the first £2.5 million of qualifying assets, up from the previously announced £1 million.

This means that a couple can now pass on up to £5 million of agricultural or business assets between them tax-free, in addition to the standard inheritance tax allowances that apply.

The proposed reforms to inheritance tax on agricultural and business assets were first announced as part of the 2024 Autumn Budget, and this is now the second amendment to the original proposals. The first amendment was included in the 2025 Autumn Budget and allows the new allowance to be transferred between spouses or civil partners.

HM Treasury has said that the increase in allowance will halve the number of estates that will be affected by the reforms, and that around 85% of estates will pay no more inheritance tax than they would have done without the reforms.

If you would like personalised advice on how these inheritance tax reforms and the new increase in allowances will affect your estate, please get in touch. We would be happy to help you!

See: https://www.gov.uk/government/news/inheritance-tax-reliefs-threshold-to-rise-to-25m-for-farmers-and-businesses

With 2025 coming to a close, you may already be starting to reflect on how the year unfolded in your business.

Your expectations may have been exceeded in some areas. Perhaps you found a new source of revenue that grew faster than you anticipated, or you had a new customer relationship that really took off. On the other hand, you might have found you were limited by rising costs, difficulties in finding staff, or changes in what your customers expect.

The economy itself has been far from predictable. While inflation does seem to have eased slightly in recent months, higher wage costs and shortages in skills have been significant factors for many businesses.

You may also be thinking about how the business has contributed toward your broader goals. For instance:

These questions perhaps show where the business supported your ambitions, or where it might have held you back.

With these thoughts in mind, the festive break may provide a natural opportunity to consider some of your strategic priorities in 2026.

What can you do to build on this year?

For instance, did you notice any patterns emerging over the past twelve months on which of your products or services truly delivered growth for your business? Or which customer or client relationships were the most valuable? Where did your business feel most stretched by things like rising costs, difficulties in finding staff, or changes in customer expectations?

Your observations may well help you in thinking about what your priorities could be for the year ahead.

How can you maintain resilience in the business?

The wider economic environment and day-to-day pressures are likely to continue shaping the decisions you make in 2026.

Have you found areas where the business has shown resilience in dealing with rising costs, maintaining customer loyalty, or responding to opportunities quickly?

These are strengths you can really continue to build on.

What could be your goal for 2026?

You might be thinking about growing your business in 2026. For instance, reaching new customers in different areas, adding to your team, or investing in new technology to make your business run more efficiently.

Or maybe you see value in consolidating the gains you made in 2025, concentrating on what has delivered the strongest returns and take a leaner, more focused approach in 2026.

However you are thinking at this time of year though, we hope that you are able to thoroughly enjoy any time off you have coming. 2025 has been a year of hard work and any rest you get is well deserved.

We look forward to supporting you in 2026, helping you to build on the progress you have made, and seeing what the new year brings for your business.

With the festive season underway and household budgets feeling the pressure, it may be useful to know that if you are worried about paying your tax bill in one lump sum, you may be able to spread the cost.

Although the deadline to file your tax return and pay any tax isn’t until 31 January 2026, acting early can make the process far smoother – especially if you need extra time to pay.

HM Revenue & Customs (HMRC) Time to Pay service allows Self-Assessment taxpayers to set up a monthly instalment plan once their tax return has been filed.

Since 6 April 2025, almost 18,000 people have already arranged a payment plan, making use of the flexibility to manage their tax bill without falling into late-payment penalties.

Here are some key points to be aware of:

If it’s needed, HMRC’s Time to Tap can offer some welcome breathing space.

If you’re unsure about how this could apply to you, how to plan for your January tax bill, or what the Time to Pay option might look like in practice, feel free to get in touch. We can help you review your position early, so you have time to make the right decisions for your business.

See: https://www.gov.uk/government/news/hmrc-offers-time-to-help-pay-your-tax-bill

The Government has announced a £725 million package of reforms aimed at increasing apprenticeship and training opportunities for young people. While much of the announcement centres on tackling youth unemployment, there could be benefits for small and medium-sized businesses.

Below is an overview of what’s changing and how it could influence your workforce planning over the next few years. 

Fully Funded Apprenticeships for Under-25s at SMEs

One of the headline changes is the removal of the 5% co-investment rate for apprentices under 25 at small and medium-sized employers.

This means training costs for eligible apprentices will be covered entirely by government funding.

If you have previously avoided apprenticeships due to the training and assessment costs, it may be worth reconsidering them as they may be a good way to fill entry-level vacancies and develop talent internally.

Potentially More Local Support in Finding Apprentices

The announced funding includes a £140 million pilot that will give Mayors the ability to connect young people with apprenticeship opportunities.

Of course, how effective this will be depends on how the scheme is implemented locally, but this should translate to more support for you in finding applicants.

Foundation Apprenticeships and Short Courses

Additional foundation apprenticeships are due to be rolled out in sectors such as retail and hospitality.

Foundation apprenticeships were first introduced in May 2025 and are designed to bridge the gap between formal learning in school or college and the workplace helping make young people work-ready. These may be useful if you find you currently have to invest substantial time in early training.

Beginning in April 2026, the possibility of short courses will be introduced to apprenticeships allowing more flexible training options that better suit you. A new Level 4 apprenticeship in AI will also be introduced, which could help you develop skills in your workforce.

In review

Clearly, it will take time for these changes to have a meaningful effect, but it could be well worth reviewing whether fully funded under-25 apprenticeships could support your recruitment needs.

There could be further news on apprenticeships over the coming months as the government has said that the Department for Work & Pensions and Skills England will be working with businesses on the right balance to further boost apprenticeship starts for young people while delivering the right flexibilities for businesses.

See: https://www.gov.uk/government/news/50000-more-young-people-to-benefit-from-apprenticeships-as-government-unveils-new-skills-reforms-to-get-britain-working

The latest Budget was packed with policy announcements, but according to the Office for Budget Responsibility (OBR), these policies will not really change the UK’s growth outlook over the next five years.

Compared with the forecast it prepared in March 2025, the OBR has lifted its expectation for growth this year but then marks it down every year through to 2030. If you were hoping for a clearer sense of the economy’s direction after the Budget, the message is mixed at best.

No Further NI Increase

One point of relief from the Budget was what didn’t happen. After last year’s significant rise in employers’ National Insurance contributions, there were no major new tax costs for employers. However, meaningful pro-business measures were also limited and could leave you wondering where business growth is going to come from.

Even businesses in sectors that did receive some targeted help, including retail and hospitality, are warning that their overall cost base is still set to rise.

Two areas – business rates and wage costs – seem to be standing out.

Business Rates: Relief, But Maybe Still Higher Bills

Business rates remain a major pressure point for high street businesses, with many seeing their rateable value increase due to the 2026 revaluation.

Many shops, pubs and hospitality businesses will have their rates calculated using a lower percentage of their property value; however, taken in combination with higher valuations many businesses are braced for higher bills.

For cash flow planning, this is something to review sooner rather than later.

Wage Costs: Good for Workers, Harder for Employers

National minimum wage increases will help workers, particularly those who are younger, but it means further cost pressure on employers already managing tight margins.

This may impact your recruitment or staffing plans or mean you need to look at raising prices to cover the additional costs. 

Salary Sacrifice Cap for Pensions

The £2,000 cap on pension salary sacrifice arrangements also attracted attention. Amounts that are contributed above the cap will become subject to employer and employee national insurance contributions, making these arrangements much less desirable.

Concerns have been raised about the impact this change could have on business investment and pension funding.

It is worth noting that these changes are not proposed to take effect until 6 April 2029. So, there is still time for employers and employees to take advantage of the current rules.

If you would like advice on how a salary sacrifice arrangement for pension contributions works, please get in touch and we would be happy to provide you with personalised advice.

Wider Access to Investment Incentives

One measure that may help some growing businesses over the longer term is the expansion of the Enterprise Investment Scheme (EIS).

EIS schemes provide tax incentives to investors who invest in smaller companies, and from April 2026, investment will be allowed into businesses that have grown beyond the previous size limits.

What to Consider Now

While the Budget’s forecasts may not paint an especially bright picture for national growth, your own plans don’t have to rise or fall with the wider numbers. Many businesses continue to expand by focusing on the areas they can influence day-to-day. You can do the same.

Some sensible steps to consider based on the Budget measures would include:

If you need help working through any of these changes – or simply want a second opinion on how they affect your plans – feel free to get in touch. We would be happy to help you!

If your business is based in England and Wales, you can now view the future rateable value of your property.

The Valuation Office Agency (VOA) has completed updating the rateable values of all commercial and non-domestic properties in England and Wales. The new values take effect from 1 April 2026.

Revaluations happen every three years to reflect changes in the property market, and local councils use these values to calculate business rates bills. A rateable value is not the same as the amount you pay, as your bill depends on the government-set multiplier and any reliefs you may qualify for.

Information on the multiplier rates and reliefs available in England was updated during November’s Budget announcement. The Welsh government is likely to confirm multipliers and reliefs in its January Budget.

Estimate Your Future Bill

You can use the GOV.UK Find a Business Rates Valuation service to find your business property’s future rateable values.

For properties in England, the service can also provide an estimate of your business rates bill, though this won’t account for reliefs. The service for Welsh properties will be updated once the Welsh Government confirms multipliers and reliefs.

If you are facing a bill increase, some of the reliefs announced in the Budget would be worth exploring. These include a Supporting Small Business Scheme and a Transitional Relief scheme.

What to Do Now

You can sign into your business rates valuation account to check your property details, see how the valuation was calculated, and report any errors.

It is also possible to use your account to compare your rateable value with other properties in the area and check how the valuation was calculated.

At the moment, you can only request changes to your current rateable value. You must request any changes to this value by 31 March 2026. After 1 April 2026, you will only be able to make changes to your future rateable value.

If you have concerns about how the revaluation could affect your business’s profitability and budgeting for costs, please get in touch. We would be happy to help you. For any questions you have about rates or payments, contact your local council in the first instance.

See: https://www.gov.uk/government/news/business-rates-revaluation-2026

The government has announced plans to introduce a new levy, the High-Value Council Tax Surcharge (HVCTS), for owners of residential properties in England valued at £2 million or more.

The surcharge is expected to come into effect in April 2028. A public consultation on the details will be held in early 2026.

HVCTS currently only affects residential properties in England. Whether the devolved administrations in Scotland, Wales and Northern Ireland will follow suit remains to be seen.

Not Based on Council Tax Bands

In information published following the Budget, the government confirmed that the surcharge will not be calculated based on council tax bands. So, if your property is currently in say bands F, G, or H (which were set based on 1991 values), this does not necessarily mean your property will be subject to a surcharge.

Instead, there will be a fresh valuation process. The Valuation Office Agency (VOA) will carry out a targeted valuation exercise in 2026. Properties assessed at £2 million or more will be slotted into one of four new HVCTS bands.

As far as council tax is concerned, existing council tax bands will remain in place, and a change in council tax band will not affect HVCTS eligibility.

What to Do Next

Especially if you own a property in London or other high-value areas in England, the new surcharge will be a concern.

If you have concerns about how the new surcharge will affect your situation, please do get in touch. We would be happy to provide you with personalised advice.

See: https://www.gov.uk/government/news/high-value-council-tax-surcharge

The deadline for filing your 2024/25 Self Assessment tax return is fast approaching. You must submit your return and pay any tax due by 31 January 2026 to avoid penalties and interest.

To meet the deadline, you will need to make sure you have:

Filing early not only helps avoid last minute stress but also gives you time to check your figures and plan for any tax payments you need to make.

If you would like help preparing and submitting your tax return, please get in touch as soon as possible. We can help you ensure that your tax return is accurate, complete and filed on time.