NEWS

What will change in 2027 New rules, that are expected to come into force from spring 2027, will make it easier for people to avoid costly subscription traps. The rules will mean: Clear, simple information to be provided before any subscription is signed up for. Reminders before free or discounted trials end, or before annual (or longer) contracts automatically renew. Cancellations will be made straightforward, including online exits for online sign-ups. A new 14-day cooling-

For small VAT-registered businesses, the method you use to calculate VAT can influence both your cash position and the amount of time spent on administration. While the standard approach works well for many, the VAT Flat Rate Scheme may offer advantages in certain situations, although it’s not always as beneficial as it first appears. Below are the key points to help you assess whether it’s a good fit for your business: How do the two methods differ? Under the standard VAT sy

When buying property in England, Stamp Duty Land Tax (SDLT) often represents a significant cost. One crucial distinction is whether a property is treated as purely residential or mixed‑use. Mixed‑use property includes both residential and non‑residential elements, such as a house with farmland, commercial buildings, or genuinely non‑residential land, and it is taxed at lower SDLT rates than residential property. This makes mixed‑use classification attractive, but it is also a

Agricultural income rarely follows a steady pattern. Many farmers see profits rise and fall significantly from one year to the next, often due to factors beyond their control. Weather conditions, disease outbreaks, fluctuating market prices for products such as milk, volatile costs for essentials like feed, fuel, and fertiliser, and changes in government policy all contribute to this uncertainty. Because of this instability, farmers’ averaging is a tax relief mechanism design

As outlined in the 2025 Autumn Budget, several changes took place on 6 April that may affect those who use the Construction Industry Scheme. From April 2026, contractors are required by law to either: file a CIS return every month, including nil returns in months where they have not used a subcontractor; or inform HMRC in advance that they will not pay subcontractors that month by submitting an inactivity request. From April 2026, with the nil filing requirement back in place

Please take note of an upcoming change to our office opening hours, which will come into effect on Friday 1st May . New Skipton Office Hours Monday to Thursday: 8:00am – 5:00pm Friday: 8:00am – 1:30pm New Settle Office Hours Tuesday: 9:00am – 4:00pm Thursday: 9:00am – 4:00pm We have carefully considered the impact of these changes on both our team and clients, and believe these new hours will provide an efficient and positive way forward for everyone. If you have any question

From the 2025/26 tax year directors of small companies will need to provide more detailed information about dividend payments on their Self-Assessment tax returns. You must report each company from which you received dividends, along with the company’s registration number. HMRC will require the exact amount of dividends received from each company. You will also need to declare your ownership share in each company. Currently, most directors simply report total dividend income.

The tax position for electric company vans is extremely simple, because there is currently no Benefit in Kind charge at all. Since April 2021, the taxable benefit for a zero-emission van has been set at £0, even where the van is available for private use. This means an employee can use an electric company van for both work and personal journeys without any personal tax charge. In short, electric vans are currently one of the simplest and most tax-efficient company vehicle opt

Electric vehicles (EVs) are rapidly becoming one of the most tax-efficient options for UK businesses in multiple ways. With fuel prices currently remaining high, EVs are increasingly attractive, not just for the cost savings, but also for the generous tax reliefs, VAT advantages, and recruitment benefits they offer. 1. 100% First-Year Allowance (FYA) Claim Businesses can claim 100% of the cost of a new, fully electric vehicle against taxable profits in the first year of pu

We're proud to be supporting Red Nose Day this year! Heather has been treating us to a selection of tasty treats each day this week - all to raise money for a good cause. This is an internal fundraiser - bringing everyone together while supporting something meaningful. We've had cookies, sticky toffee pudding, bacon/sausage butties, scones etc! It's been amazing to see everyone getting involved, donating, and enjoying some tasty treats along the way!

The new tax year brings several updates to payroll and employment costs that employers should be aware of. While many of the changes are relatively small, it’s important to ensure your payroll systems are updated correctly from April 2026. This is a summary of the key updates affecting employers. Statutory Sick Pay (SSP) There are significant changes to Statutory Sick Pay from April 2026 , which are covered in a separate article. Lower Earnings Limit (LEL) The Lower Earnings

From 6 April 2026, new legislation will introduce important changes to Statutory Sick Pay (SSP). Employers will need to ensure payroll systems and processes are updated. What’s Changing? Lower Earnings Limit Removed Currently, only employees earning above a certain threshold qualify for SSP. From April 2026, all employees will be eligible, regardless of income. SSP will be 80% of normal weekly earnings or the weekly flat rate of £123.25, whichever is lower. Waiting Period Rem

It has recently been announced that a number of updates to the UK apprenticeship system are being introduced during 2026, with a stronger focus on supporting younger people into work and helping employers address key skills gaps. Here’s a summary of the main changes and what they could mean for your business: £2,000 Incentive for Hiring Young Apprentices Employers hiring new apprentices aged 16-24 from October 2026 may be eligible for a payment of up to £2,000. This i

A recent tax tribunal decision highlights the importance of keeping proper VAT invoices when reclaiming VAT on business purchases. In the case of Mochars Ltd, the Tribunal considered whether a business could recover input VAT where it was unable to provide the required invoices to support its claim. The Tribunal ultimately dismissed the appeal and confirmed that HMRC was entitled to refuse the VAT repayment. Background to the case The company was VAT registered and submitted

As we approach the end of the 2025/26 tax year, it’s an ideal time for businesses to review employee benefits ahead of the P11D reporting deadline. While these rules apply to all employers, certain sectors, including farming and rural businesses, may face additional considerations, particularly around accommodation and vehicles. Below are the key areas worth reviewing. Accommodation Provided to Employees For businesses that provide living accommodation, job-related accommodat

HM Revenue & Customs (HMRC) has recently highlighted private use adjustments as an area receiving their greater attention during small business compliance checks. HMRC expects these to be carefully reviewed so that only the correct proportion is claimed for tax purposes. What is a Private Use Adjustment? For many small businesses, certain costs naturally have a mixture of personal and business use. A private use adjustment is required so only the portion relating to the busin

A recent tax tribunal case will be of interest to farmers who rear or finish cattle on behalf of other businesses. The case looked at the VAT treatment of arrangements where one farmer houses and feeds cattle owned by another business. The Tribunal decided that the services provided were a single supply that should be charged at the standard rate of VAT. Background to the case A farming partnership entered into an agreement with a company to house and feed cattle. Under the a

From 6 April 2026, the tax cost of leaving a director’s loan account overdrawn is expected to increase. This is because it is linked to the higher rate of dividend tax, which is itself rising. Although final confirmation that this will apply to the Section 455 charge has not yet been issued, it appears likely. The rate is set to increase to 35.75% for loans made on or after that date. The current rate is 33.75% for loans made since 6 April 2022, and 32.5% for loans made befor

After over 20 years with Shepherd Partnership, we said 'farewell' to our Accounts Senior, Michael - who retired at the end of January (thank you, Michael for sticking around till after the tax-return deadline!). Michael began working in accounts and finance straight from college, and joined the Shepherd Partnership team in 2004. He has been a hugely valuable and popular member of the team, and we are sorry to see him go (but happy to see him enjoying a new , relaxed routine)

We closed our office doors for the day last Friday to host a team gathering at Le Bistro in Skipton. After coffee, bacon butties and pastries, we started our day with a team building/information gathering session - which we called a 'team ideas forum'. This was a new idea, and provided an opportunity for everyone to come forward with discussion points/ suggestions for the business going forward/ ways to improve our systems etc... The session was such a success (we would highl