Watson Knipe Blog

If you are self-employed or receive rental income from property, you may have come across the term 'Payments on Account' (PoA). It often causes confusion, particularly for people completing their Self-Assessment tax return for the first time.

For individuals looking to invest in growing businesses, the Enterprise Investment Scheme (EIS) can offer an attractive combination of investment opportunity and valuable tax reliefs. Introduced by the UK Government in 1994, the scheme was designed to encourage investment in smaller, higher-risk companies by offering investors a range of tax benefits.

Making Tax Digital (MTD) is no longer a future concept. For many self-employed individuals and landlords, it is now a present reality. As we move closer to the first quarterly submission deadline, the focus has shifted from awareness to action. At Watson Knipe, the approach has been simple: don’t wait for change to happen, get ahead of it.

As the financial year draws to a close, it’s a good time for self-employed businesses to take stock and position themselves strongly for the year ahead. A planned approach at this stage could create a meaningful difference to both your tax position and your overall financial understanding.

The Spring Statement 2026, delivered by Rachel Reeves, focused on economic stability, steady growth and restoring confidence across the UK economy.  While the Statement did not introduce major new tax measures, it set the financial and policy direction that directly affects business planning, property investment decisions and landlord strategy over the coming years.

For most businesses, landlords and property investors, strong financial control starts with good diary management. While tax and reporting obligations are familiar territory, missed deadlines still carry unnecessary cost, disruption and risk. Looking ahead to 2026, there are several key dates that business owners, finance teams and directors should have firmly on their radar.

More people than ever are earning extra income on top of their main employment. For some, it is a way to boost household finances. For others, it is a creative outlet that has started to generate money. Whatever the motivation, it’s important to understand when that extra income needs to be declared and what tax rules apply.

This article provides a concise overview of the Autumn Budget 2025 changes affecting capital taxes, highlighting a clear shift towards tightening reliefs while maintaining stability in core thresholds. It covers key updates to Capital Gains Tax, including changes to reliefs for business owners and employee ownership structures, alongside reforms to carried interest and incorporation relief.

Here we summarise the Autumn Budget 2025 measures affecting UK businesses, setting out a broadly stable Corporation Tax landscape alongside targeted reforms designed to support investment and growth. It covers the confirmation of Corporation Tax rates, changes to capital allowances and writing down allowances, and the introduction of new first-year reliefs to encourage capital expenditure.

This article outlines the key Autumn Budget 2025 measures that employers need to be aware of, focusing on employment taxes, pay obligations, and workforce benefits. It covers National Insurance contribution rates and thresholds, the continuation of employer reliefs, increases to the National Living Wage and National Minimum Wage, and changes to the taxation of company cars and vans.

This article summarises the Autumn Budget 2025 measures affecting personal tax, with a continued emphasis on frozen thresholds alongside targeted rate changes that will gradually increase the tax burden for many individuals. It outlines the ongoing freeze to Income Tax and National Insurance bands, updates to allowances, and changes to the taxation of savings, dividends, and property income from 2026 and 2027 onwards.

Chancellor of the Exchequer Rachel Reeves set out tax-raising measures worth up to £26 billion in the Autumn Budget on 26 November 2025. The increases will be achieved through a range of measures, including extending the freeze on Income Tax thresholds for a further three years.

For many self-employed businesses and landlords, the run-up to Christmas is already a demanding period. Client deadlines, project completion, tenant management, and year-end operational pressures all compete for time and attention. Adding a last-minute tax return into the mix often creates unnecessary strain. Submitting your tax return early is a simple step that brings structure, reduces risk and supports more confident financial planning.

As we head towards the end of the year, many small business owners start to think about their tax return. This can result in a significant amount of paperwork and pressure as they try to gather everything together to submit to their accountant.

We wanted to write this article to help you reduce stress and improve your bottom line by considering a year-round tax planning approach.

We work with many clients who live or work abroad but still have tax obligations in the UK. The rules can be complex, and it’s easy to miss key details, especially when your home, work and family life span more than one country.

Our Expatriate Taxation Service helps clients navigate these rules, stay compliant, and plan effectively for their future.

In March 2025, the Chancellor unveiled proposals that shift the burden of administering the High-Income Child Benefit Charge (HICBC). For many households, these changes will simplify the route to compliance, but they also bring new choices and risks. HMRC’s online service for paying the high-income child benefit charge went live in September 2025.

For many, tax returns are something to be dealt with ‘later’, a task pushed to the edge of the January deadline. But more people are choosing to file theirs earlier in the tax year. In fact, HMRC recently reported that nearly 300,000 people submitted their 2024 to 2025 return in the first week after 6 April 2025 – HMRC article.

From 6 April 2025, HMRC implemented a significant change that will affect taxpayers across the UK, including many businesses and property owners. As part of a broader shift announced in the 2024 Autumn Budget, the interest charged on late tax payments will increase significantly, rising by 1.5%.

We wanted to let you know about the changes to Child Benefit effective from 7 April 2025. Families will receive a financial boost, thanks to increases in Child Benefit payments.

The increased payments for families are shown below. These payments, made every four weeks, are automatically transferred to bank accounts, helping to ease household budgeting.

Chancellor of the Exchequer Rachel Reeves held the spring statement on Wednesday, 26th March 2025. In the run up to the event, the Chancellor stated that she ‘remains committed to one major fiscal event a year to give families and businesses stability and certainty on upcoming tax and spending changes and in turn, to support the government's growth mission’.