NEWS

Rachel Reeves delivered her highly anticipated Autumn 2025 Budget yesterday, 26th November. We have shared details of the points we think you need to know in our Budget Summary newsletter: Please read our summary here. We read and summarise the details so you don't have to! But if you are particularly interested, the full 150 page statement can be found here: Budget 2025 document - GOV.UK

There are some gorgeous, festive activities and events taking place in Skipton in the coming weeks. Take a look at the latest 'Welcome Skipton' newsletter to discover what's on... https://mailchi.mp/45f7e8f816c2/skipton-visitor-newsletter-november-2025?e=11526079c7

From 1 December 2025, the UK’s Financial Services Compensation Scheme (FSCS) deposit protection limit will increase from £85,000  to £120,000  per person, per authorised institution. What is the FSCS Protection limit? The FSCS protects eligible deposits held with UK-authorised banks, building societies and credit unions if the institution fails. What does the increase mean? This is a significant boost for savers who prefer to keep money in cash, but it doesn’t eliminate risk.

HMRC has now started writing to self-employed individuals and landlords who will be required to join Making Tax Digital (MTD) for Income Tax Self Assessment from April 2026. These are the first “mandation” letters confirming that the new digital reporting rules are approaching.   Who is receiving these letters? The first batch, issued in November 2025, is being sent to taxpayers whose gross self-employment and/or property income exceeded £50,000 on their 2024–25 tax return. T

HMRC has started switching its online tax services to a new sign-in system called GOV.UK One Login. You may have noticed that when you go to sign in to your HMRC account, say to pay your tax, you are now prompted to use (or create) a GOV.UK One Login instead of the traditional Government Gateway ID. Here’s what this change means for you. What is GOV.UK One Login? GOV.UK One Login is a new, centralised sign-in system being rolled out across all government online services.

New guidance has been issued this week clarifying how repayments will work for higher-income recipients. Will I have to repay the Winter Fuel Payment? Anyone with total taxable income above £35,000 will now be required to repay the Winter Fuel Payment through the tax system. Income for this purpose includes: ·       State Pension ·       Workplace or private pensions ·       Earnings from employment or self-employment ·       Savings interest and dividends ·       Rental inco

This year’s ‘Talk Money Week’ , which took place from 3-7 November, encouraged individuals to talk about their finances. During this, HMRC focused on sharing information about their app; a newer way to get involved in your own finances.   What is the app? The HMRC app provides tax and financial information for all ages. There are multiple benefits to the app, primarily being it is easy to use and quick to access. You can use the HMRC app to: check your tax code see your compl

As the nights draw in and the festive season approaches, many businesses look for ways to thank their staff for their hard work throughout the year. Whether you’re organising a Christmas party or showing your staff how valued they are by giving them small gifts, there are tax-efficient options available, provided you observe the rules.   Christmas Parties: What You Can Claim   HMRC offers a tax exemption for annual staff events, but specific conditions must be met: The event

With increasing pressure on traditional agricultural income streams, many farms are turning to diversification not just as a growth strategy, but as a means of survival. Whether it’s adding holiday accommodation, dog walking fields, cafes or activity-based tourism, broadening business activity can bring in essential revenue.   However, alongside the opportunities come complexities particularly when it comes to VAT. Understanding the rules and how they apply to different incom

With the rise in electric company cars, HMRC has recently updated its guidance on how mileage claims should be calculated, particularly when electric vehicles (EVs) are charged in more than one location. These apply when an employee is using a company-provided electric vehicle (i.e. one owned or leased by the employer), and is being reimbursed for business travel costs. From September onwards, a new two-rate system has come into effect for reimbursing business mileage in elec

We had a wonderful time on Monday evening (6th October) celebrating the Skipton Business Awards. The event was held at Skipton Town Hall, and - whilst it felt a little strange to be so dressed up on a Monday evening - everyone showed up in their best frocks/suits to celebrate many of the marvellous businesses in and around Skipton. We were delighted to be involved in the event as a category sponsor. This time, we sponsored the 'Skipton Shining Star Award' - recognising a busi

HMRC have launched a campaign to advise taxpayers on tax avoidance schemes and to explain the risks involved.   These schemes are typically marketed to contractors and umbrella company employees, and, as agents, we are encouraged to work alongside HMRC to spread awareness and help clients steer clear of tax avoidance schemes.   Spotting the signs of tax avoidance   Ensure the umbrella company have been accredited and follows a strict ethical code Watch out for anything ‘HMRC

If you’re a business owner considering a sale or wind-down in the near future, it’s important to be aware of upcoming changes to Business Asset Disposal Relief (BADR), which will significantly affect the amount of Capital Gains Tax (CGT) you pay. Previously known as Entrepreneurs’ Relief, BADR offers a reduced rate of CGT on the sale of all or part of a business, provided certain conditions are met. The relief applies to lifetime gains of up to £1 million, offering a valuable

With the proposed scaling back of Agricultural and Business Property Reliefs to 50% for values above £1 million, attention is turning to the lesser-known, but potentially powerful, heritage property reliefs.   Owners of land, buildings, and chattels of national, scientific, historic, or artistic significance may be eligible for a range of tax-saving opportunities under the Inheritance Tax Act 1984. These include:   Conditional Exemption Inheritance Tax can be deferred where q

The Chancellor, Rachel Reeves, has confirmed that the Autumn Budget will be delivered on Wednesday 26 November 2025.  This year’s timing aligns with the government’s intention to have one main fiscal event annually.  What to Watch For (and What Might Change) In a challenging fiscal landscape, many expect the Autumn Budget to include a mix of strategic changes, “stealth” adjustments, and targeted reforms rather than sweeping tax hikes across the board.  What to expect often be

HM Revenue & Customs (HMRC) has reinstated its Direct Recovery of Debts (DRD) scheme, allowing it to recover unpaid tax directly from...

If you are a director who borrows money from your own limited company, you need to know about the implications of Section 455 (S455) tax....

If you, and your spouse or civil partner, jointly own a rental property, now is a good time to review how the income is being split for...

Around 1.4 million individuals are soon expected to receive Simple Assessment Letters from HMRC as part of their compliance work for the...

Adam ran another successful Great North Run this weekend... continuing his achievement of running every year (that the event has taken...