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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.
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.
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.
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.
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.
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.
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’.
Following the announcements made by the Chancellor in the recent Spring Budget, we have put together a roundup of some key planning points for small
