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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.
Why Making Tax Digital Will Ultimately Benefit Everyone
At first glance, Making Tax Digital (MTD) may seem like another administrative burden — more reports, more deadlines, more compliance. However, when we look beyond the surface, MTD represents a major opportunity for individuals, businesses, and the wider economy.
You’ve Received Your MTD Letter from HMRC — What’s Next?
If you’ve recently received a letter from HMRC about Making Tax Digital (MTD) for Income Tax, you’re not alone. HMRC has started writing to sole traders and landlords with combined turnover over £50,000 to prepare them for major changes starting from April 2026.
Do You Know Your Business’s Break-Even Point?
Running a successful business isn’t just about making sales — it’s about knowing your numbers. And one of the most important numbers any business owner should understand is their break-even point.
At Exchange Accountants, we believe that financial clarity is the foundation of confident decision-making. Whether you’re a start-up or an established SME, understanding your break-even point can provide essential insight into pricing, growth, and long-term sustainability.
Making Tax Digital: What You Need to Know
From April 2026, Making Tax Digital (MTD) for Income Tax will bring major changes to how many sole traders and landlords report their income to HMRC. At Exchange Accountants, we’re helping clients prepare for what will be a significant shift in tax compliance — not just in terms of timing, but also in the systems and processes you’ll need in place.
State Pension, NICs & Personal Allowance Changes — What They Mean for You
The Spring Statement 2025 brought several important updates affecting individuals, especially those who are self-employed or approaching retirement. From changes to National Insurance Contributions (NICs) to adjustments in the State Pension and the continued freeze on the personal allowance, these updates will shape the way many people plan their finances going forward.
At Exchange Accountants, we’re here to help you understand how these changes impact you and what steps you may need to take.
The Future of Furnished Holiday Lettings: What the Abolishment Means for Landlords
From April 2025, the Furnished Holiday Lettings (FHL) tax regime will be abolished. This change, announced in the Spring Budget 2024 and confirmed in the 2025 Spring Statement, marks a major shift for landlords who operate short-term holiday accommodation in the UK and the EEA.
Changes to Inheritance Tax: Planning Ahead for the New Relief Caps
Major changes are on the horizon for Inheritance Tax (IHT) — and they could have significant implications for business owners, landowners, and families looking to pass on wealth.
The Spring Statement 2025: 10 Things You Need to Know
The Chancellor’s Spring Statement on 26 March 2025 introduced a number of policy changes that will directly impact business owners across the UK. While the government maintained its promise of “no major tax announcements,” the statement still outlined significant shifts in spending, national insurance, and tax administration that SMEs should prepare for now.
Read the 10 most important takeaways for small and medium-sized business owners.
Making Income Tax Digital
Making Tax Income Tax Digital (MTD): What You Need to Know – Updated April 2025 HMRC’s Making Tax Digital for Income Tax (MTD for ITSA)
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’.
State Pension Top Up Deadline: What You Need to Know
The State Pension is a crucial part of retirement income for millions of people in the UK. However, if you have gaps in your National Insurance (NI) record, you might not receive the full amount when you retire.
Right now, there is a limited-time opportunity to top up missing NI contributions dating back to April 2006—but the deadline to do this is 5 April 2025.
Spring Statement 2025: What to Expect From Chancellor Rachel Reeves
Chancellor Rachel Reeves is set to deliver her Spring Statement on 26 March 2025. The Treasury has confirmed that the Office for Budget Responsibility (OBR) has been commissioned to provide an updated economic and fiscal forecast, which will be presented to Parliament alongside this statement. While Reeves has expressed a commitment to holding only one major fiscal event per year, this spring announcement is expected to bring further tax changes.
Understanding Payroll and Auto-Enrollment: Essential Services for Your Business
Managing payroll and auto-enrolment can be time-consuming and complex for many businesses. Whether you’re a small business owner or managing a larger company, outsourcing these functions can significantly reduce administrative burdens and help you focus on running your business. Here’s a deeper look into the payroll and auto-enrolment services we offer at Exchange Accountants.
Understanding Inheritance Tax – What You Need to Know
Inheritance tax (IHT) is a significant consideration for those looking to leave wealth to family members or loved ones. While the topic may seem complicated, understanding the basics of how it works, who is liable to pay it, and the ways to reduce it can help you make more informed financial and estate planning decisions. This guide will walk you through the essentials of inheritance tax in the UK, helping you understand how it’s calculated, exemptions, and the strategies to manage it.
