News Roundup June 2025
The UK-India trade deal cuts major tariffs, boosting UK exports. HMRC ends phone support for UTRs from May 2025. Interest rates drop to 4.25% amid weak growth. Inflation remains high, and unemployment rises to 4.5%, with falling job vacancies and concerns over data accuracy.
Abbeygate Goes to Accountex 2025 – Insights, Innovation & a Mad Dash for the Train
On Wednesday, the entire Abbeygate Accountancy team made the trip to London for Accountex 2025, the UK’s flagship event for accounting and finance professionals – and what a day it was!
From the moment we stepped into the Excel Centre, it was clear we were in for a whirlwind of ideas, insights, and inspiring conversations. The day was packed with networking, learning, and discovery as we met with a mix of long-standing partners and exciting new prospects.
News Roundup May 2025
UK businesses face rising employment taxes, weak confidence, and hiring cutbacks. Interest rate cuts are expected as trade tensions grow, and the government has stepped in to save British Steel amid mounting economic pressures.
New Tax Year, New Numbers: Key 2025/26 Tax Changes You Should Know
With changes to allowances and tax bands, it’s more important than ever to stay informed and plan proactively. Whether you’re a business owner, landlord, or employee, the right advice can save you time and money.
Spring Statement 2025 – What it Means for You
While no major tax changes were announced, this year’s Spring Statement still holds important insights for individuals and businesses alike. From revised economic forecasts to future plans for Making Tax Digital and VAT penalties, Chancellor Rachel Reeves has outlined the government’s direction amid ongoing global uncertainty.
News Roundup March 2025
Following the Bank of England’s base rate cut to 4.5% on 6 February, HMRC will lower its late payment and repayment interest rates from 25 February.
News Roundup February 2025
Most UK businesses are optimistic about the start of 2025, with economic confidence surveys showing plans for growth following a difficult period. However, retail and hiring concerns linger. According to Lloyds Bank, 70% of businesses expect turnover to rise over the next year, up from 62% in December 2023.
Spotlight On: Understanding the Construction Industry Scheme (CIS)
A GUIDE FOR CONTRACTORS AND SUBCONTRACTORS The Construction Industry Scheme (CIS) is a vital part of the tax system for workers in construction. Whether you’re a contractor managing subcontractors or a subcontractor working on various projects, understanding how CIS works is key to ensuring compliance and managing cashflow effectively. In this guide, we’ll break down […]
News Roundup January 2025
HMRC DELAYS AGENT SERVICES ACCOUNT APPROVALS HMRC has extended the processing time for agent services account (ASA) and VAT agent reference number applications to 40 working days – eight weeks – up from the previous 28 days. This change applies from the date HMRC receives an application. Applications for an ASA must be submitted in writing, as no online […]
How You Can Avoid 5 Common Tax Mistakes Small Business Make
Tax regulations can feel daunting for small business owners. Here are five mistakes we often see and how you can steer clear of them: 1. Not Keeping Accurate Records: Failing to maintain detailed and accurate financial records can lead to missed deductions or problems with the tax authorities. How to Avoid: Set up a system […]
