The government is tightening up on non-compliant labour supply chains. From 6 April 2026, new rules will make UK-based agencies and end clients jointly responsible for unpaid PAYE liabilities linked to umbrella company workers.   This marks the next phase of HMRC’s crackdown on tax avoidance in temporary labour markets, following the IR35 reforms, which shifted off-payroll working assessments to end clients.   Who Will Be Liable?   From 6 April 2026, HMRC will have the power

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

Sometimes earning that extra pound feels like a win, until you realise it’s the most expensive £1 you’ll ever earn.  Hidden within our tax system are “cliffs” and “traps” where a small rise in income can trigger big losses in allowances and benefits. It’s not just about tax bands.  It’s about what else changes when you cross into a different bracket.   Child Benefit From 6 April 2024, the High Income Child Benefit Charge (HICBC) now starts when one partner’s adjusted net inc

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

From the 2025/26 tax year, new HMRC rules will apply to UK-based directors of close companies who are required to submit a Self-Assessment tax return. A close company is broadly defined as a UK resident limited company that is controlled by five or fewer participators, or by any number of participators who are also directors. These changes are part of a wider push for greater transparency in company ownership and dividend reporting and will affect many owner-managed and famil

Back in September 1971, the government added a small extra payment to the State Pension for people aged 80 or over, just 25p a week.   At the time, that little amount could buy around two and a half loaves of bread.  Now, more than 50 years later, that 25p payment hasn’t increased at all. According to the Bank of England, 25p in 1971 would be worth about £3.20 today. But in reality, 25p today only buys a few slices of bread .  By the time I’m a retired 80 year-old, it might j

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...

Winter Payments 2025: What Pensioners Need to Know – and How to Opt Out (deadline 12-14 September 2025)   Important changes have been...

Many small business owners only think about tax planning as the year-end deadline approaches. But a last-minute approach often leads to...

Companies House have begun their planned tightening of regulations to combat company fraud, as well as providing more security for...

We had a fabulous time exhibiting at this year's Gargrave Show (16th August). This was our first time at the show and it did not...

Workplace pensions remain one of the most tax-efficient ways to save for retirement — but the amount of tax relief you receive depends on...

HMRC is ramping up efforts to combat VAT fraud in the staffing industry.  Unfortunately, some compliant businesses are increasingly being...

Here's a list of key UK tax dates and deadlines for the upcoming month. Please don't hesitate to contact us if you have any questions...

The Small Business Charter is offering two courses tailor-made for SMEs to help grow your business.  Help to Grow: Management Essentials...

Thank you to everyone that took part in our Yorkshire Day quiz! For those that have been wondering if they answered correctly, the...

HMRC has warned property buyers about unscrupulous agents offering to reclaim Stamp Duty Land Tax (SDLT).  They argue a house was...

The recent passing of pop star Liam Payne has highlighted an issue which is often overlooked: the consequences of dying without a Will....

As we move into August, a quick but important reminder for anyone making Income Tax payments on account for the 2024/25 tax year: if you...

We're very happy to say that we'll be exhibiting at this year's Gargrave Show - which takes place on Saturday 16th August. We'll be...

Several members of our team have recently passed exams... and we are super-proud of all the progress they are making! Lily has passed...

July 2025 brought significant developments in the ongoing rollout of Making Tax Digital for Income Tax (MTD IT). While the decision to...

The Government-backed Start-Up Loans scheme offers unsecured loans of £500 to £25,000 to help you to start or grow your business. With a...

Huge congratulations go to our team member, Karen, who recently welcomed her beautiful new daughter, Willow. We wish Karen and her family...

Important Update   HMRC has officially confirmed that Making Tax Digital (MTD) will not be extended to Corporation Tax, at least for the...

Earlier this month, we were delighted to welcome our latest work experience student, Hasan to the office. Hasan is a Year 10 student at a...

The new Electric Car Grant went live on 16 July 2025, offering up to £3,750 off new electric vehicles (EVs) priced under £37,000. If you...

As property investors grow their portfolios, at some point many begin to look ahead to consider how best to pass assets down to the next...

HMRC enquiries can happen at any time.  This can be so even if you are fully compliant and your tax affairs are up to date.  Responding...

The Shepherd Partnership team enjoyed a fabulous outing recently... enjoying a walk in Settle, followed by a delightful pub lunch! The...

Running a business not only means thinking about the day to day, but also the future of your business. Why should I plan? HMRC announced...

If you have children aged 16 to 19, you may be entitled to continue receiving up to £1,354 per year in Child Benefit. However, this...

A new round of Countryside Stewardship Capital Grants is now open, with £150 million available to support environmental improvements and...

As part of the government’s Plan for Change, Defra is reopening the Capital Grants offer. This new round will make £150 million of...

Self-employed individuals and small business owners across the UK can apply for a £10,000 cash prize through a competition led by the...

Winter Fuel Payments: 9 June 2025 Announcement   Who is eligible?                                 All pensioners in England and Wales  ...

Nominations are now open for this year's Skipton Business Awards! The award ceremony will take place on 6th October, and the deadline to...

The IFS (Institute for Fiscal Studies) recently published an interesting article on how 'The tax system is making net zero more costly...

How to reduce your tax bill and pay yourself more efficiently The 2025/26 tax year has brought continued pressure on company directors. ...

Here's a list of key UK tax dates and deadlines for the upcoming month. Please don't hesitate to contact us if you have any questions...