Month: January 2026

Scottish Budget Statement 2026-27

Scotland’s Finance Secretary, Shona Robison delivered her third Budget statement to the Scottish parliament on 13 January 2026. This is the final Budget before the Holyrood elections due to take place in May.

There were no changes announced to the

New 40% First Year Allowance now in force

The new 40% First Year Allowance came into force from 1 January 2026. This marks an important development for businesses investing in plant and machinery. The new allowance was first announced at Autumn Budget 2025 and is intended to encourage

Construction Industry Scheme: tackling fraud

Tackling fraud in the Construction Industry Scheme (CIS) was one of the measures addressed in the recent Budget. The changes are intended to allow faster intervention where fraud is suspected, while also simplifying certain administrative aspects of

Check your National Insurance record

It is recommended to check your National Insurance record as this can affect your future entitlement to the State Pension and other benefits.

By using the online service, you can see what National Insurance contributions you have paid up to the

MTD for Income Tax – check if and when you need to use it

If you have not yet checked if and when you need to use Making Tax Digital (MTD) for Income Tax, you should do so as a matter of urgency. This is because from April 2026 the way many individuals report their tax to HMRC will change significantly. MTD

Welsh Budget 2026-27

The Welsh Final Budget for 2026-27 was published on 20 January 2026. The Budget sets out the Welsh government’s revenue and capital spending plans, including detailed portfolio spending plans.

Mark Drakeford MS, Cabinet Secretary for Finance and

PAYE rules for labour supply chains (umbrella companies)

From 6 April 2026, significant changes to PAYE rules will affect umbrella companies, recruitment agencies, and end clients, increasing shared responsibility for payroll compliance across labour supply chains.

Umbrella companies are often used by

Protecting your online passwords

With so many online accounts now in daily use, including banking, shopping, email and HMRC services, password security has never been more important. A weak or reused password can lead to fraud, identity theft, or unauthorised access to personal and

Do you need a company audit in the UK?

Not every UK limited company needs a statutory audit. Many smaller companies qualify for audit exemption, but it is important to understand the rules, as an audit may still be required in certain situations.

For financial years starting on or after

Spring Statement 2026

The Chancellor, Rachel Reeves has confirmed that she will deliver the Spring Statement to the House of Commons on Tuesday, 3 March 2026.

The Spring Statement is used to give an update on the state of the economy and will respond to the economic and