NEWS

If you have received a letter, email or other communication from HMRC about your cryptocurrency, don't ignore it. HMRC is increasingly using information from cryptoasset providers to identify taxpayers who may have undeclared income or capital gains. And you don't need to be a crypto millionaire to find yourself on HMRC's radar. Cryptocurrency may once have seemed outside the traditional financial system. Those days are gone. Crypto Is on HMRC’s Radar HMRC's latest figures sh

Starting a business can be exciting, but the wrong decisions early on can quietly turn a promising start-up into a business that keeps you busy without delivering the returns you need. Whether you are preparing to launch, finding your first customers or starting to grow, here are some common mistakes worth avoiding. The aim? To build a business that is profitable, properly structured and capable of supporting the life you want. 1. Thinking turnover means success “We’ve done £

Did you know that we have just turned 60? That's right - 6 decades of Shepherd Partnership! There have been a few name and director changes along the way but our business was officially established in 1966. It's been fabulous to be part of the local business community for such a long time and we've had so many wonderful experiences along the way! Our business's longevity can mainly be put down to: Our lovely clients Our fantastic team A wonderful support network Surviving and

We're thrilled to share a guest article from HR advisor, Sarah Seastron of Clockwork HR. Please read on for Sarah's advice about probationary periods for new team members. Probationary Periods and Changes in Qualifying Period for Unfair dismissal Having a robust probationary process is even more important with the change in qualifying period for unfair dismissal coming into effect from January 2027. This is a major change in employment law. The qualifying period for unfair di

If you run a limited company, there’s an important change to be aware of when it comes to filing your Corporation Tax return. From 1 April 2026, HMRC increased the penalties for late filing of Corporation Tax returns. With the increased penalties now in force, making sure your return is filed on time is more important than ever. What’s changed? The standard penalties for late Corporation Tax returns have increased: Up to 3 months late: £200 More than 3 months late: £400 Thre

The Scammers Are at It Again – This Time It's Companies House We've highlighted business scams in previous newsletters, and unfortunately fraudsters continue to find new ways to target UK businesses. One of the latest scams involves criminals pretending to be from Companies House. They are sending convincing emails, letters and making telephone calls designed to trick company directors into making payments or revealing sensitive information. Taking a few moments to check befo

Companies House is changing the way people sign in to its online services. From late August 2026, GOV.UK One Login will become the main way to sign in to the Companies House “Find and update company information” service. What does this mean for you? If you use Companies House yourself, for example to view or update your company details, you will eventually need to move to GOV.UK One Login. You don't need to make the change immediately. Existing Companies House users can conti

Companies House has reminded business owners who have completed their identity verification as a director to check they have also completed the separate verification required for their role as a Person with Significant Control (PSC). A PSC is someone who owns or controls a company, usually by holding more than 25% of the shares or voting rights. Companies House has highlighted that many business owners have completed the director verification but overlooked the separate requi

Many people would like to help their children or grandchildren financially during their lifetime rather than leaving everything to them after they have died. Whether it is helping with a house deposit, supporting a family member, or simply giving loved ones a financial boost, making lifetime gifts can be a rewarding way to pass on wealth. With the proposed changes from 6 April 2027, which will bring most unused pension funds and death benefits within the scope of Inheritance

For many farming families, land is much more than an asset. It is the foundation of the business, a source of family wealth and often the key to succession planning. With rising costs, changing markets and changes to the tax landscape, decisions about selling land, changing its use or investing in development need careful thought. Think carefully before selling land Selling part of a farm can provide valuable funds to reduce debt, invest in the business or help with successio

Don't ignore it! HMRC has issued a reminder to taxpayers not to ignore a Simple Assessment letter (PA302) if one arrives. Simple Assessments are aimed at people who aren't required to complete a Self Assessment tax return, but who HMRC believes still have tax to pay, for example, because of small amounts of savings interest, pension income or other untaxed income. If you receive one, the figures need to be carefully checked. HMRC does not always have perfect information, so w

Thank you to all of you who entered our Yorkshire Day quiz! The lucky winners of the £50 Betty's voucher were Stephen and Susan at Harling House Bed and Breakfast in Ingleton. They were thrilled to win and excited to make use of their voucher! All entrants correctly completed the Yorkshire sayings... Where there's muck, there's brass. There's nowt so queer as folk. 'Ear all, see all, say nowt. What's that for t'do wi' price o' fish?

And what are the implications of a family loan on inheritance tax and care home fees? Whether it's assisting with a house deposit, helping to fund a new business or providing temporary financial support, it is increasingly common for parents and grandparents to help younger family members financially. Many families may choose to lend money rather than make an outright gift, and while these arrangements are often made informally, failing to document them properly can create un

Recent concerns have highlighted the importance of ensuring workplace pension contributions are processed correctly. A mismatch between a pension scheme's tax relief method and the way payroll is set up could result in employees receiving more tax relief than they are entitled to, potentially leading to unexpected tax bills if HMRC identifies the error. How Pension Tax Relief Works There are two main methods used to provide tax relief on employee pension contributions: Relief

The National Crime Agency (NCA) is urging businesses to strengthen their defences against invoice fraud, a crime that continues to cost UK organisations millions of pounds every year. Invoice fraud is typically criminals posing as legitimate suppliers to send fake invoices with payments directed into fraudulent accounts or requesting changes to bank account details on genuine invoices. In some cases, fraudsters gain access to legitimate email accounts, making fraudulent reque

Capital Grants applications opened on 31st July. Capital Grants can help farmers invest in practical improvements to their business, including hedgerow planting, water storage, farmyard drainage and other infrastructure that supports long-term productivity and environmental outcomes. This new round will make £225 million - 50% more than in 2025 - available to farmers to improve farm infrastructure and carry out works that help them make environmental improvements across Engla

As part of Companies House aim to improve the quality of information held on the public register and help tackle economic crime, new filing requirements were announced which will now take place from 1 April 2028. Businesses have been given additional time to prepare for significant changes, with Companies House confirming that the new rules will take effect a year later than originally planned. The changes will affect all companies, but small and micro businesses are likely t

HM Revenue & Customs (HMRC) has announced proposed changes as part of wider ISA reforms due to take effect from April 2027, which could significantly affect how cash held within investment ISAs is treated. Under the current proposals, a 22% tax charge may apply to interest earned on cash balances held inside Stocks & Shares ISAs and similar investment-based ISA products. This measure is aimed at addressing what could be seen as the use of investment ISAs as a “cash shelter”,

Changes announced in the Autumn Budget 2025 will alter the National Insurance advantages of salary sacrifice pension arrangements from 6 April 2029. What are the current rules? Salary sacrifice has long been a popular way to contribute to workplace pensions, allowing employees to exchange part of their salary for an employer pension contribution. This reduces National Insurance liabilities for both parties, with many employers using their savings to enhance pension contributi

HMRC has issued a warning to business owners after becoming aware of schemes promoting the use of Bills of Exchange as an alternative way to settle tax liabilities. These arrangements are being marketed as a legitimate method of paying tax. However, HMRC has made it clear that it does not accept Bills of Exchange as payment for tax debts and considers these schemes to be fraudulent. Businesses using these arrangements remain liable for the original tax, together with any inte