News

After months of uncertainty, Companies House has set the identity-verification deadline as 18 November 2025.

From that date, all new company directors and People with Significant Control (PSCs) must verify their identity.

Existing directors and PSCs will then have 12 months to complete verification, which means 18 November 2026 is the true identity verification deadline.

How should directors prepare?

If you are a new director, verify your identity before your first filing.

If you are an existing director, 18 November 2025 begins a transition year as you must be verified before your company’s next confirmation statement.

You will need to supply Companies House with your personal code and a verification statement for each director listed.

If any directors or PSCs are overseas or likely to be delayed, contact them now.

Directors with multiple companies must link the same personal code to each role separately.

Check your next confirmation date on the Companies House website, and if you need help, get in touch with our team.

How should PSCs prepare?

PSCs must provide their personal code via an online service.

Each PSC has a 14-day window to submit their code, and exact dates depend on when the PSC was registered and whether they are also a director.

If you have already verified your identity, you still need to supply your personal code and a verification statement for each role.

How do you verify?

You can use the DIY option via GOV.UK One Login or use an Authorised Corporate Service Provider (ACSP).

However, using an ACSP is the easy option if you want to ensure that there are no issues with getting your identity verified.

ACSPs can manage the entire process, reduce errors and submit filings on your behalf.

Only registered ACSPs may verify identities, so be sure to avoid unregistered third parties. We are a registered ACSP Services provider, so we are able to complete the Companies House identity verification on your behalf, saving you the time and distraction of this additional compliance.

Speak to our team to make sure you are ready for the identity verification deadline!

The Treasury is reportedly revisiting Inheritance Tax (IHT) as ministers hunt for extra revenue.

While the Chancellor considers several options, IHT reforms remain a likely avenue, and now may be a good time to restructure your assets to avoid a larger IHT bill.

How could Inheritance Tax change?

No decisions have been finalised, but several serious proposals are circulating.

The clearest change already announced is that unused pension pots will be brought into the IHT net from April 2027.

That single change will bring many more estates into scope and has already altered planning strategies.

Gifting, a common tool to reduce IHT exposure, is under particular scrutiny.

Policymakers are discussing measures to curb or restrict gifting and may adjust the tapering that currently applies.

At present, gifts made within seven years of death remain relevant to IHT and are taxed at a tapered rate, while those made earlier are generally ignored.

The current rates are:

• 32 per cent for gifts made three to four years before death
• 24 per cent for gifts made four to five years before death
• 16 per cent for gifts made five to six years before death
• 8 per cent for gifts made six to seven years before death

It is believed that these rules could be subject to change in the Autumn Budget, although nothing is confirmed yet.

What can I do to lower an Inheritance Tax bill?

With uncertainty ahead, the smart first step is to quantify your estate so you know what might be exposed.

For pensions, consider how the 2027 change could shift the tax burden and whether drawing income or adjusting death benefits fits your plan.

It is then time to reassess gifting strategies.

While lifetime gifts still have value, their effectiveness will depend on any reforms brought in by the Chancellor.

Whatever the Chancellor decides, we are ready to help you review and restructure your assets to remain as tax-efficient as possible.

To ensure that you retain the most control of your assets even after you go, speak to our team for tailored Inheritance Tax planning.

With UK growth slowing to just 0.3 per cent in Q2, business confidence is fragile.

Momentum has faded after a surge in exports ahead of new tariffs earlier this year, while weaker consumer confidence and persistently high household savings add to the uncertainty.

The upcoming Autumn Budget is amplifying concerns with the expectation that the Chancellor will revisit a range of tax-raising measures to manage a potential £50 billion shortfall.

For businesses, this makes planning investment, recruitment and payroll increasingly challenging.

What might be on the table?

Recent reports suggest the Autumn Budget could bring a range of tax changes:

• Inheritance Tax (IHT) may be reformed, with reliefs on gifts scrapped and adjustments to the residence nil-rate band.
• Capital Gains Tax (CGT) rates could be aligned with Income Tax, potentially extending to high-value homes in a “mansion tax” style levy.
• The VAT threshold might be lowered to £30,000, bringing more small businesses into scope.
• Property taxes could be overhauled, with Stamp Duty replaced by a levy on higher-value homes.
• Pensions may face limits on tax-free lump sums.

Of course, all of these are speculative, but it is that uncertainty that has the capability to hold back investment.

How you can respond to change

The uncertainty is already affecting recruitment intentions, with more businesses relying on temporary or flexible contracts rather than investing in new, permanent staff.

Consumers are saving more and spending less due to caution around potential tax rises, which is hitting revenues in consumer-facing industries.

Major investment decisions are also being delayed until after the Budget in anticipation of more change.

However, even amid uncertainty, you can take steps to reduce risk:

• Plan for different tax scenarios, including higher employer costs or property and CGT changes.
• Review payroll and benefits to stay compliant and competitive.
• Streamline processes with technology to boost efficiency.
• Utilise short-term hiring options, while planning for long-term workforce needs.

Uncertainty does not have to stall growth! Contact our advisers today for tailored support and strategies to keep your business moving forward.

When the Chancellor unveiled £26 billion in additional taxes and higher employer National Insurance contributions (NIC) last autumn, the impact on business confidence was immediate.

Businesses are now trying to manage:

• The new adult National Minimum Wage rate, which has risen to £12.21.
• A 1.2 per cent rise in employer NIC.
• Statutory pay increases and extended family leave entitlements.

For labour-intensive industries such as retail, care, and hospitality, these measures pushed up employment costs by several percentage points almost overnight.

Is wage growth under pressure?

While mandated pay increases have provided a short-term boost to lower earners, broader wage growth is stalling.

A new survey prepared by the Recruitment and Employment Confederation (REC) points to starting salaries rising at the slowest pace in over four years.

Payroll budgets have been squeezed to the point where wage increases above statutory minimum are rare.

Between redundancies, job moves, fewer vacancies and career changes, there are more applicants in the job market for employers to choose from.

That supply-demand imbalance has eased pay pressures further, particularly outside specialist and technical fields.

Are businesses reluctant to hire?

The Chartered Institute of Personnel Development reports that only 57 per cent of employers plan to recruit in the next three months, down from 65 per cent just last autumn.

Vacancies for permanent roles may have decreased, but temporary and flexible contracts are helping to fill some of the gaps. However, this reflects caution rather than expansion.

Many businesses are delaying investment until there is clarity on future tax policy in the next Autumn Budget.

What it means for you

Balancing compliance with competitiveness is now a key challenge for employers.

We are working alongside businesses like yours to ease the impact of higher costs through smarter payroll planning, reviewing benefits, and using technology to improve efficiency.

Speak to us about a tailored payroll review and discover where efficiencies can ease the pressure.

The Government’s Making Tax Digital (MTD) for Income Tax is now only a matter of months away.

It is important that you are prepared and understand how the changes could affect you as the phased introduction of this new tax reporting regime begins in April 2026.

For individuals who complete self-assessment tax returns, the way you report and communicate are changing and it is important that you prepare now.

When do the new laws come into effect?

From April 6, 2026, individuals completing Self-Assessment tax returns with an annual turnover or gross income exceeding £50,000 will be required to follow the new MTD for Income Tax legislation.

The threshold will gradually decrease year on year, dropping to £30,000 from April 2027 and £20,000 from 6 April.

Your income tax return from the 2024/25 tax year will determine when the MTD for Income Tax laws apply to you, so if you are likely to be affected from April 2026 and you aren’t prepared yet, speak to our team today.

What will I need to do?

Once you are required to follow the new MTD for Income Tax regulations, you will need to maintain digital account records as paper records will not be accepted.

It is recommended you incorporate cloud accounting software into your current processes to ensure all reporting is accurate.

Whilst it will be possible to continue to report your income using spreadsheets by relying on bridging software, HMRC compliant software is recommended.

As well as maintaining digital account records, you will need to submit quarterly updates to HM Revenue and Customs (HMRC) and confirm your tax position at the end of the tax year.

Your updates must be submitted through the HMRC app or through an external agent, such as an accountant who can file the updates on your behalf.

Act and prepare now

Preparation is key because you will need to change your Self-Assessment processes to deal with quarterly reporting and get comfortable using software and technology to submit information to HMRC.

Get in touch to start preparing for MTD for Income Tax.

In today’s interconnected world, cyber‑risk has gone from a simple technical concern to an existential threat for businesses.

Every business should be preparing itself to defend against cyber criminals, but the number of those doing so is worryingly low.

We consider the current state of cybersecurity and what more needs to be done to protect businesses.

How vulnerable are businesses to cybercrime?

Look at the news on nearly any given day, and you will find headlines concerning the latest business to fall victim to cybercrime.

You might think that this would inspire businesses to take every measure necessary to protect against cybercrime, but the opposite seems to be true.

The World Economic Forum has recently published its Global Cybersecurity Outlook for 2025, and the figures reported therein are troubling.

It was reported that 35 per cent of small organisations feel that their “cyber resilience is inadequate” and 49 per cent of public-sector organisations “indicated that they lack the necessary talent to meet their cybersecurity goals.”

At the same time, cybercrime is on an unprecedented economic trajectory.

The report indicated that “scammers have siphoned away more than $1 trillion globally in the past year, costing certain countries losses of more than 3 per cent of their gross domestic product (GDP).”

Businesses should be aware that if cybercriminals can take such dramatic action against countries, that they are not safe.

As cybercrime is more efficient and effective than regular crime, there is little to stop cybercriminals from attacking businesses and organisations until they find success.

This can be done through social engineering, phishing scams, and hacking, though the former two are increasingly popular as humanity remains the greatest vulnerability within a system.

How can businesses protect themselves from cybercrime?

As mentioned, it is the people who work for your business that are the main vulnerability.

Technology developers and cybercriminals are in a constant arms race to surpass each other, so many cybercriminals take the easier route of simply asking for access to a network.

Training your staff is the best preventative measure, and cybersecurity training should be conducted with great regularity.

The World Economic Forum Report highlights the success of the Paris Olympic Games as a model for cybersecurity resilience.

It highlights how it “took two years of preparation, which included large-scale audits, penetration testing and cyber-crisis management exercises.”

“In the end, despite there being a significant number of cyberattacks – more than any previous Olympic Games – few were successful, and none were able to disrupt the Games or key pieces of infrastructure.”

Your business may not be as big a target as the Olympics, but if you handle any sensitive information, then it will feel as important as them.

The loss of revenue and reputation that comes from successful cyber-attacks can damage businesses for years, as trust takes a long time to be reestablished if it ever can be.

Cybersecurity has been too long overlooked and can have significant ramifications for businesses that do not engage with the matter seriously.

We are on hand to help you understand the importance of cybersecurity and the ways that it can impact your financial well-being.

Worried about the financial impact of a cyber attack on your business? Speak to our team today!

Many business owners assume artificial intelligence (AI) is only relevant for large corporations.

However, modern tools are already helping smaller firms reduce costs in subtle but powerful ways.

Better supplier pricing

Software can now track pricing trends across your industry, flagging when you are paying more than the market average.

For example, a commercial printer might discover that it is paying above-average for paper stock.

With this insight, it can renegotiate terms or source alternative suppliers, without compromising quality.

Smarter staff scheduling

Using historical data and seasonal patterns, planning tools forecast staffing needs more accurately.

A leisure centre, for instance, might notice spikes in footfall during school holidays.

Automated scheduling ensures the right number of staff are on shift, avoiding overtime costs during quiet periods.

Catching expense fraud

Claim-checking systems automatically flag unusual patterns in staff expenses.

Duplicate mileage, weekend travel or other policy breaches are identified early, preventing overpayments.

Trimming software waste

Unused or underused software subscriptions often go unnoticed.

Monitoring tools highlight where licences are not being used, helping you cut unnecessary costs without disrupting the team.

Tighter stock control

Demand forecasting tools analyse past sales, supplier timelines and seasonal behaviour.

This helps you order more accurately, avoid overstocking and reduce cash tied up in excess inventory.

These savings may seem small individually, but together they can make a real impact on profitability.

None of them require large-scale change, but all of them start with a simple review of your current systems and spending.

Looking to invest in AI and automation? Speak to our team about how to fund innovation.

For a long time, pensions have offered a tax-efficient way to pass on wealth to the next generation.

Under current rules, most defined-contribution pensions sit outside your estate for Inheritance Tax (IHT) purposes.

This can mean they are passed on entirely free from IHT, particularly if death occurs before age 75.

What changes are coming to IHT?

From 6 April 2027, unused pension funds and death benefits will, in most cases, be included in the value of your estate for IHT.

These assets will become liable to up to 40 per cent IHT, depending on the size of your estate and any available allowances.

The exemption that currently allows pensions to be passed to children and other beneficiaries without tax will largely disappear, remaining only when passed to a surviving spouse or civil partner.

The reform applies irrespective of residency. British expatriates living in countries such as Portugal, Spain, France, Cyprus, Malta, or elsewhere will not be exempt from these changes.

With the current IHT thresholds frozen until at least 2030, more families will be drawn into the IHT net as asset values rise with inflation.

What can you do now?

• Review your pension value as part of your full estate.
• Revisit your beneficiary nominations. Leaving pensions to a spouse/civil partner can retain IHT protection.
• Consider drawing more from your pension during retirement to avoid leaving a large pot behind.
• Seek advice on asset restructuring if your estate approaches the IHT threshold.

Pensions containing property or illiquid investments may also require careful planning to avoid rushed asset sales.

Act now, not in 2027!

Early planning can reduce your tax exposure and spare your family from administrative delays later.

Speak to us today to make sure your pension plans are still working for your future.

Grants are available to businesses in a wide variety of sectors, but unfortunately, too many businesses miss out on this vital form of funding.

An overreliance on loans puts your business in the risky position of struggling to repay debts during periods of poor cash flow. Grants offer a much safer form of funding.

Unlike traditional bank loans, grants are sources of funding that do not have to be repaid.

Usually designed to support businesses in specific, high-growth sectors, grants may be provided by local or national Government, thinktanks, private companies, charities and more.

Unfortunately, many common obstacles affect businesses’ ability to access grant funding.

To successfully secure a grant for your business, it is essential to understand these barriers to funding.

Common obstacles to grant funding and how to overcome them

A frequent occurrence is businesses applying for grants they are not eligible for – wasting valuable time and effort.

To avoid this, read and re-read the grant criteria to make sure your business is eligible. If in doubt, contact the grant funder to discuss your application.

Make sure you provide essential details about your business and its financial performance, using quantifiable evidence and statistics to back up your claims.

Another common pitfall is the use of jargon in grant applications.

While this may seem to give the image of expertise and authority, using complex jargon and acronyms can make it difficult for the grant funder to read your application.

Instead, opt for clear, understandable language that ensures the reader knows exactly what you are talking about.

Finally, make sure you meet the deadline!

These are typically very strict for grants, and a funder is unlikely to allow extensions, so make sure you submit your grant application in plenty of time before the deadline.

Support with your grant application

With any grant application, getting your business facts and financial figures right is important from the outset.

You need to be sure of your numbers and of your business’s capacity for growth.

An experienced accountant can advise you on your financial position and support you with accessing grant funding.

The key to unlocking grant funding is good advice. Contact us today for support with your application.