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Why Digital Accounting is No Longer Optional for Northern Ireland SMEs
For small and medium-sized enterprises (SMEs) across Northern Ireland, the business landscape is changing faster than ever. Rising costs, shifting trade rules, and an increasingly competitive marketplace mean that business owners need more than annual accounts to stay ahead — they need real-time financial insight.
That’s where digital accounting comes in.
Making Tax Digital: What Northern Ireland Businesses Need to Do Now
HMRC’s Making Tax Digital (MTD) for Income Tax is coming — and it will affect thousands of people in Northern Ireland. From April 2026, sole traders, landlords, and certain partnerships with turnover above the threshold will have to keep digital records and send quarterly updates to HMRC using approved software.
Inheritance Tax Changes Could Leave Families Facing Unexpected Bills
At Exchange Accountants, we are advising clients to review their inheritance planning following significant changes to the way pension savings are treated for inheritance tax (IHT).
Chancellor Rachel Reeves confirmed in the last autumn Budget that unspent pension pots will now form part of an individual’s estate for IHT purposes, regardless of age at death.
This is a major shift away from previous rules, where pensions could usually be passed on tax-free if the deceased was under 75.
Companies House Identity Verification: Rollout Starts 18 November
TCompanies House has confirmed that mandatory identity verification for directors and people with significant control (PSCs) will officially begin on Tuesday 18 November 2025.
Triple Lock Costs Soar: What It Means for Pension Planning in Northern Ireland
The cost of the UK’s state pension triple lock is now forecast to be three times higher than originally estimated by the end of the decade, according to the Office for Budget Responsibility (OBR). With the annual cost expected to reach £15.5bn by 2030, questions are once again being raised about the long-term sustainability of the policy — and what this could mean for individuals and families planning for retirement, especially here in Northern Ireland.
State Pension Age Review Brought Forward: What It Could Mean for Your Financial Future
As part of the Labour government’s broader fiscal strategy, it has been announced that the long-anticipated review of the state pension age will be brought forward. This decision arrives at a time when Chancellor Rachel Reeves is facing mounting financial pressures ahead of her next Budget — expected in October or November.
At Exchange Accountants, we want to help our clients stay ahead of the curve and understand what these developments might mean for your long-term financial planning.
The Countdown to MTD: 9 Months to Go – Are You Ready?
From April 2026, Making Tax Digital for Income Tax (MTD ITSA) becomes mandatory for thousands of individuals — including landlords and sole traders — with combined turnover over £50,000. While that may seem far off, nine months is not a long time when it comes to updating systems, learning new processes, and becoming fully compliant.
Companies House Changes: What You Need to Know
Major reforms are coming to UK company law, and business owners need to be prepared. Under the Economic Crime and Corporate Transparency Act 2023 (ECCTA), Companies House is set to roll out a wide-ranging package of changes between now and the end of 2026 — with the aim of improving corporate transparency, preventing fraud, and modernising reporting requirements.
While the details continue to evolve, a clear implementation timetable has now been released. Here’s what you need to know.
Pension Realities: Why It’s Time to Start Thinking Seriously About Retirement
If you’ve been wondering whether you’re saving enough for retirement, you’re not alone.
A recent article in the iPaper shared stories of people across the UK with strong pension pots — and highlighted the growing pressure on individuals to fund their own futures. With the Pensions and Lifetime Savings Association (PLSA) estimating that £1.2 million is now required for a “comfortable” retirement, many people are understandably feeling overwhelmed.
New Identity Verification Requirements for Company Directors: What You Need to Know
Companies House has recently begun emailing directors and people with significant control (PSCs) about upcoming identity verification requirements, due to become mandatory from autumn 2025. The change is part of the wider reforms introduced under the Economic Crime and Corporate Transparency Act 2023, aimed at reducing fraud and increasing transparency in UK company ownership.
Defence Plans, Tax Strategy & Business: What Starmer’s Defence Vision Means for You
The UK Government’s latest defence strategy, unveiled by Sir Keir Starmer, outlines an ambitious and expansive vision for the country’s armed forces — but it also raises big questions about how it will be funded and what trade-offs may lie ahead for the wider economy, taxpayers, and business owners.
Making Tax Digital for Income Tax: Who Needs to Comply by April 2026?
Making Tax Digital (MTD) for Income Tax is on the horizon — and for many individuals, the first compliance deadline is fast approaching.
If you’re self-employed, a landlord, or have a combination of qualifying income sources, you may be required to join the scheme from April 2026. In this article, we’ll break down who is affected, what “qualifying income” means, and how to work out if you’re in scope.
Making Tax Digital for Income Tax: What It Means and Who It Affects
Making Tax Digital (MTD) for Income Tax is the most significant change to the UK tax system in a generation. Designed to modernise tax reporting and reduce errors, it marks a shift away from annual tax returns to a more real-time, digital-first approach.
If you’re a sole trader, landlord, or self-employed individual, this change could affect how you run your business, manage your records, and interact with HMRC.
Here’s what you need to know.
Why Every Business Needs a Tax Strategy — Not Just a Tax Return
Most business owners know the importance of filing their tax return. It’s an essential compliance obligation — one that ensures you stay on the right side of HMRC. But beyond ticking the annual box, there’s a much more powerful financial tool that often goes overlooked: a well-planned tax strategy.
Child Benefit Changes for Parents of Teenagers
f you have employees or clients with children aged between 16 and 19 years old, there is an important deadline approaching that could impact their entitlement to Child Benefit — worth up to £1,354 a year.
