From 18 November 2025, identity verification with Companies House will start to be required for company directors and People with Significant Control (PSCs). The measure is intended to improve the reliability of information on the UK’s company register and support efforts to reduce economic crime.
The Chancellor, Rachel Reeves, gave a surprise ‘pre-Budget’ speech last week that appeared to pave the way for tax rises in the Budget on 26 November 2025.
Effective for accounting periods beginning on or after 1 January 2026, significant changes are being introduced to FRS 102. Small (or micro) businesses that currently apply section 1A of FRS 102 will also be affected by these changes.
Making Tax Digital for Income Tax is a new way for sole traders and landlords to report their income and expenses to HMRC.
From 6 April 2026, some sole traders and landlords must use it, based on their total annual income from self-employment and property.
In its latest round of investigations, HM Revenue and Customs (HMRC) have named 518 employers who have failed to pay the National Living or National Minimum Wage correctly to their staff.
A total of £7.4 million will be paid by these employers to almost 60,000 workers. In addition, the employers face financial penalties of up to 200% of the amount they underpaid.
The National Cyber Security Centre (NCSC) has launched a new set of cyber security culture principles. These have been developed following considerable research and describe the kind of culture that can help businesses stay cyber secure.
It’s long been said that putting all your eggs in one basket is risky. Many small business owners may fear that risk of becoming a reality. Take the UK’s farming sector as an example. Faced with extreme weather, policy shifts and volatile prices, farmers have increasingly turned to other sources of income to keep their businesses viable.
The International Monetary Fund (IMF) has released its annual review of the UK economy and the message this year is more positive than many might have expected. The IMF has upgraded its forecast for UK growth in 2025 to 1.2%, noting that “an economic recovery is underway.”
The Federation of Small Businesses (FSB) has recently updated its guidance on Employers’ Liability insurance – a useful reminder of the rules and risks around a business insurance that is legally required in the UK.
If you run your own company, you might have the option to take a bonus either as salary or as a dividend. But which one leaves you better off? The answer depends on several factors: how much profit your company has, your existing income, the current rates of tax and National Insurance, and whether you’re taking advantage of available allowances.
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