HLAS

James Murray, the Exchequer Secretary to the Treasury, made a Written Ministerial Statement last week that included a number of tax simplification, administration and reform measures. In total, 39 measures were announced. Many measures are intended to reduce burdens on employers and small businesses, whereas others are designed to modernise H M Revenue & Customs (HMRC) systems and processes. Here are five highlights included among the measures announced. Delay to payrolling benefits Mandatory payrolling of benefits in kind will now be delayed to April 2027 instead of April 2026. Payrolling benefits is a way to report and tax employee benefits [...]

According to new research, small and local businesses across the UK are increasingly embracing artificial intelligence (AI) tools to improve efficiency and streamline everyday operations. A study led by Professor Ross Brown of the University of St Andrews Business School found that SMEs using AI tools could achieve productivity gains of between 27% and 133%. Based on interviews with nearly 10,000 businesses conducted by the Department for Business and Trade, the findings suggest AI could play a significant role in helping small and medium sized businesses make productivity gains. Professor Brown explained, “AI potentially offers SMEs short cuts that provide [...]

The International Monetary Fund (IMF) has predicted that the Bank of England could cut interest rates three more times this year, despite the UK facing higher-than-expected inflation. Inflation in the UK is now forecast to be 3.1% for 2025 - the highest among advanced economies - largely driven by higher utility and energy bills. However, the IMF believes this spike will be temporary, paving the way for further rate reductions. It expects inflation to fall back to 2.2% by 2026, close to the Bank of England’s long-term target. For business owners, potential rate cuts offer both opportunities and challenges: Lower [...]

Recent news concerning Elon Musk serves as a timely reminder for business owners about the risks associated with losing focus on their core operations. After Tesla reported a notable decline in profits and sales earlier this year, Musk announced he would "significantly" scale back his involvement in his US government role with the Department for Government Efficiency (DOGE), choosing to devote more of his attention back to Tesla. While the politics of Musk’s government role are not our focus, this situation highlights a crucial lesson: business owners must remain actively engaged with their businesses, particularly during challenging times. When leaders [...]

Nobody enjoys facing rejection. Whether it’s a declined loan application, missing out on a contract, or being turned down by an investor, rejection can hurt – particularly when you have poured your energy and passion into building your business. However, uncomfortable as it may be, rejection can often become a powerful driver of future success. In fact, many leading entrepreneurs credit their greatest breakthroughs to lessons learned when things didn’t go as planned. Here’s why rejection could prove to be one of the most valuable experiences on your business journey: 1. Rejection Promotes Reflection Experiencing rejection forces us to pause [...]

In today’s business environment, digital technology is central to everyday operations. As a result, cyber security has evolved beyond being merely an IT concern – it is now a critical responsibility for business owners and board members alike. Effectively managing cyber risks is as vital as overseeing financial, legal, or operational risks. With increasingly complex supply chains and rapidly evolving cyber threats, strong cyber governance is now essential not only for resilience but also for ensuring business continuity and supporting sustainable growth. To assist organisations in strengthening their approach, the National Cyber Security Centre (NCSC), in collaboration with the Department [...]

If you're a sole trader or landlord earning over £50,000 annually, a significant change is on the horizon. From 6 April 2026, you may be required to maintain digital business records and send quarterly updates to HM Revenue and Customs (HMRC) under the new Making Tax Digital (MTD) for Income Tax rules. This represents one of the most substantial changes to Self Assessment since its inception. While there are potential advantages, it will also bring considerable adjustments to the way you manage your finances. What’s Changing? Under MTD for Income Tax, individuals who meet the criteria will need to:• Keep [...]

As concern over foot and mouth disease (FMD) cases in Europe continues to grow, travellers are now banned from bringing cattle, sheep, goat and pig meat as well as dairy products from EU countries into Great Britain for personal use. The ban includes sandwiches, cheese, cured meats, raw meats and milk whether packed or packaged or bought at duty free. The new restrictions extend those already in place for personal imports from Germany, Hungary, Slovakia and Austria because of outbreaks in those countries. While FMD does not pose a risk to humans, the effect on animals and the agricultural sector [...]

A recent £60,000 fine issued to Merseyside-based law firm DPP Law Ltd (DPP) by the Information Commissioner’s Office (ICO) has highlighted the serious consequences businesses can face when cybersecurity measures fall short. The fine followed a major cyber attack in 2022 that resulted in highly sensitive and confidential client information being stolen and later published on the dark web. While DPP operates in particularly sensitive legal areas - such as crime, military, family fraud, sexual offences and actions against the police - the lessons from this incident apply broadly to any organisation that handles personal data. What went wrong? The [...]

At Autumn Budget 2024, we were promised a consultation on the tax treatment of predevelopment costs. However, following the Court of Appeal’s decision on a recent case, the government is postponing publication of the consultation while it considers the implications of the decision. The case, which is known as Orsted West of Duddon Sands (UK) Ltd and others v HMRC [2025] EWCA Civ 279, marked a victory for taxpayers and provides clarity on how capital allowances are treated on pre-construction development costs. Capital allowances are a form of tax relief that businesses can claim when they pay out on capital [...]