The Neonatal Care (Leave and Pay) Act 2023 came into force on 6 April 2025. This law provides a new leave and pay entitlement for parents with a baby in neonatal care. 

Depending on how long their baby is in neonatal care, parents will now have the right to have up to 12 weeks leave and pay. This right is in addition to other time off and pay. 

#NeoNatalCare

If you're a sole trader or landlord with annual income over £50,000, a major change is coming your way. From 6 April 2026, you may be required to keep digital business records and submit quarterly updates to HM Revenue and Customs (HMRC) under Making Tax Digital (MTD) for Income Tax. 

This is one of the biggest shifts in Self Assessment since it was introduced, and it will mean significant changes in how you manage your accounts. 

#MTD #ITSA #Landlords

From 8 April 2025, Companies House has launched a new identity verification system as part of changes under the Economic Crime and Corporate Transparency Act 2023. 

If you’re a director, person with significant control (PSC), or someone who files on behalf of a company, this applies to you. 

#CompaniesHouseIDChecks #ACSP

From 6 April 2025, a new regime for the taxation of UK resident non-domiciled individuals came into effect.

#NonDom #UKTax #Expats

The Furnished Holiday Lettings (FHLs) regime was abolished on 6 April 2025. What does the abolition mean for your holiday letting property? 

The property will become part of either your main UK or overseas property business. This means that some of the beneficial tax rules that previously applied will no longer apply,

The recent Spring Statement announced that Making Tax Digital for Income Tax (MTD for IT) regime will be further extended to smaller businesses.

Read on to see how and when your business might be affected.

#MTD #MTDITSA #ITSA #SoleTrader #Landlord

Employers National Insurance changes effective from 6 April 2025

#EmployersNI #NationalInsurance

The new minimum wage rates are as follows

#NMW #NLW #ApprenticeRate

Ellis Atkins were proud to represent STEM careers at The Ashcombe School this week.  Encouraging Year 9 and 6th Form students to explore opportunities in STEM, confidently engage with employers, and find inspiration for their future career paths.

 #STEM #AshcombeCareers #CareerInspiration

Making Tax Digital for Income Tax Self-Assessment (MTD for ITSA) is set to transform the way sole traders and landlords in the UK manage their taxes. It focuses on digital record-keeping, streamlining tax reporting, and encouraging the use of digital tax software, ultimately modernising the UK tax system.

If you’re feeling a bit overwhelmed by the changes, you’re certainly not alone. Many of our clients have expressed concerns about the new rules, which is why we’ve put together this guide to help you get to grips with MTD for ITSA. Here’s everything you need to know to stay ahead of the game.

#MakingTaxDigital #MTDforITSA #SelfAssessment

With the tax/financial year end approaching, now is a good time to check that you’re making the most of the available reliefs and allowances available to you. Please talk to us if you think any of the issues affect you.

#TaxPlanning #TaxTips #TaxAdvice

HMRC will reduce late payment and repayment interest rates from 25 February following the cut in the base rate. 

#HMRC #LatePayment # RepaymentInterestRates

We want to bring an important tax change to your attention that could impact your business vehicle decisions.

From 6 April 2025, double cab pick-up trucks will be reclassified as cars for tax purposes, affecting capital allowances, benefit-in-kind (BIK) taxation and may affect deductions from business profits. This marks a significant shift from the current treatment of these vehicles as commercial vans. However, VAT recovery rules will remain unchanged.

#DCPU #BusinessVehicleDecisions #BIK

Legislation was laid before Parliament last week confirming that the new National Living Wage and new Minimum Wage rates will take effect from 1 April 2025. 

#NLW #NMW #NationalMinimumWage #NationalLivingWage

The amount of State Pension you will receive is based on how many completed years you have in your NI record. Currently it is possible to review your record going back to 2006, and wh There is limited time to be able to do this though.

From 6 April 2025, you will only be able to make voluntary NI contributions for the previous 6 tax years. This means there is now less than two months left to be able to plug any gaps that go back to 2006. ere there is a gap, you can contribute to plug the gap.

#StatePension #RetirementPlanning #PensionTopUp

Starting a business in the UK is an exciting venture, but it comes with financial, tax, and accounting responsibilities that you must navigate effectively. Understanding what you will need to do from the outset will help make sure that you don’t miss anything, avoid unnecessary costs, and position your new business for success. 

#Startup #NewBusiness #BusinessStructure #SmallBusiness

The UK labour market remains challenging as employers cut staff numbers and wage growth accelerated, according to the latest data from the Office for National Statistics (ONS). 

The International Monetary Fund (IMF) has upgraded its growth forecast for the UK economy this year. 

The global institution upgraded its prediction for UK growth to 1.6% for this year from its previous estimate of 1.5%. 

As well as upgrading its outlook for the UK, the IMF suggested the UK economy would perform better than European economies such as Germany, France and Italy over the next two years. 

The Chancellor will deliver her Spring Statement / Budget to the House of Commons on Wednesday 26 March 2025.

People selling unwanted items online can continue to do so without any new tax obligations, HMRC has confirmed. 

The reminder comes as online platforms start sharing sales data with HMRC from January 2025 – a new process that, when announced last year, generated inaccurate claims that a new tax was being introduced.