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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.
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 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 Tax Income Tax Digital (MTD): What You Need to Know – Updated April 2025 HMRC’s Making Tax Digital for Income Tax (MTD for ITSA)
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 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.
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.
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.
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.
Running a business comes with many challenges, but managing your finances shouldn’t be one of them. Unfortunately, for many business owners, the financial side of things can feel overwhelming and confusing. At Exchange, we understand that. That’s why we’re committed to helping you take control of your finances, streamline your processes, and get back to focusing on what really matters — growing your business.
As a business owner, you invest significant time, effort, and resources to grow your company. But what happens when the unexpected occurs? Whether due to retirement, illness, or any unforeseen event, businesses without a clear and effective succession plan face serious risks that could disrupt operations, damage reputation, and even jeopardize financial stability. This article explains why succession planning is essential, the challenges businesses may face without it, and how you can take proactive steps to ensure a smooth leadership transition.
As January comes to a close, we’re reflecting on one of the busiest months of the year for businesses and accountants alike. Self-assessment season is a time of last-minute filings, frantic receipt sorting, and late-night spreadsheets. But it’s also a time of learning. For many business owners, January reminds us of the importance of staying organised throughout the year.
At Exchange Accountants, we’ve seen it all this month—from early birds who prepared months in advance to last-minute filers scrambling to meet the 31st January deadline. Whatever your situation was this year, the end of January offers a valuable opportunity to take stock, plan ahead, and start fresh for the year to come.
As we begin 2025, now is the perfect time for businesses to reflect on the previous year and look forward with clear financial goals. January sets the tone for the entire year, and by planning effectively, business owners can ensure they are positioned for growth, success, and smooth operations. Whether you’re a start-up or an established SME, here’s how you can set up your business for success in 2025—and why Exchange Accountants can be the perfect partner to help you achieve those goals.
A New Year brings new opportunities, and for many, it’s the perfect time to act on the dream of starting their own business. If launching a business is on your list of New Year’s resolutions, you’re not alone—2025 could be the year that changes everything for you.
At Exchange, we’re here to guide you every step of the way, ensuring that your new venture is built on a solid foundation. From developing your business plan to managing your finances and taxes, our Start-Up Business Package is tailored to make your entrepreneurial journey as smooth and stress-free as possible.
As the festive season approaches, businesses often face an increase in spending on staff celebrations, gifting, and other year-end expenses. However, there are several tax-saving opportunities available to businesses, especially in the run-up to Christmas. From staff parties to gifting, businesses in Northern Ireland can benefit from tax relief and deductions that can help reduce the financial impact of seasonal spending.