News

Wishing you all the best for the holiday season and hoping for a successful 2026 

From all the Team at Solutions in Accounting Ltd

Wishing you all the best for the holiday season and hoping for a successful 2026 

From all the Team at Solutions in Accounting Ltd

Please note our team will be working reduced hours over the festive period and our office will be closed from lunchtime on 19th December to 4th January – reopening on the 5th January. We will endeavour to reply to any messages or calls during this period.

MTD for income tax will be with us for the tax year 2026/2027 which will mean quarterly digital online filings for certain clients. Initially affecting self employed and landlords with a turnover of £50,000 in 2024/25. Some of you already have been notified that you will be enrolled following submission of your self assessments for 2024/2025. We will need to review with you the extra compliance and services required.

The Government link gives further information.

Autumn Budget November 2025

In the Autumn Budget delivered on 26 November 2025, Chancellor Rachel Reeves announced up to £26 billion in tax-raising measures, including a three-year extension of the Income Tax threshold freeze, alongside increases to taxes on property, dividends and savings. The Budget also introduced both employee and employer National Insurance contributions on salary-sacrifice pension contributions above £2,000 a year and brought in a new tax on homes valued at £2 million or more.

On spending, Ms Reeves took action to cut energy bills, freeze rail fares and end the two-child benefit cap.

Ms Reeves said: ‘I can tell you today that, for every family we are keeping our promise to get energy bills down and cut the cost of living with £150 taken off the average household energy bill from April.

‘Money off bills, and in the pockets of working people. That is my choice.’

Autumn Budget 2025 read full document

The Spring Statement 2025

Chancellor of the Exchequer, Rachel Reeves, held the Spring Statement on Wednesday 26 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’.

The Chancellor did meet her commitment that there would be no major tax announcements but tax is only one side of the equation. The other is spending and the Spring Statement confirmed a number of the measures recently announced, namely:

•          cuts to the welfare state

•          cuts to the civil service

•          an increase in defence spending.

There were also announcements about the rollout of the Making Tax Digital (MTD) for Income Tax project.

Spring Statement 25 read full document

Personal tax deadline has now passed

Please remember the payment deadline for your 2023/2024 personal tax deadline has now passed and interest will be accruing on any tax owed.

Also any tax owing for 2023/2024 will incur a 5% surcharge if not paid within 30 days of the deadline – see below for late payment penalties

Penalties are set as follows:

The penalties do not apply to payments on account – although interest will be due.

If you are struggling to meet the tax due  – you could apply online for a time to pay arrangement, to avoid penalties it is important this is in place before 1^st March.

Please review the attached document for more information on interest and penalties

Wishing you all the best for the holiday season

Please note our team will be working reduced hours over the festive period and our office will be closed from 24th December to 2nd January.

The Autumn Budget 2024

Chancellor Rachel Reeves delivered her Budget on Wednesday 30 October 2024. She pledged to ‘invest, invest, invest’ to drive growth and ‘restore economic stability’.

Billions in tax rises

Ms Reeves said the Budget will raise £40 billion in taxes. Employers’ National Insurance contributions (NICs) will be increased from next April while Capital Gains Tax rates will also rise. Inherited pensions will fall within the Inheritance Tax net from April 2027 while reliefs will be reformed on the passing down of agricultural and business assets. The Chancellor also confirmed the introduction of VAT on private school fees and the abolishment of the tax regime for non-UK domiciled individuals.

We are pleased to enclose a copy of our Autumn Budget 2024 which summarises the main points relating to taxation in the Chancellor’s speech.

We hope the summary will provide you with a useful update and allow you to get to grips with the changes. If you have any questions in understanding how the changes to tax affect you, please do get in touch.