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Important Update: Recent Changes to the Trust Registration Service (TRS)
As part of the UK government’s ongoing efforts to improve transparency and align with international anti-money laundering regulations, further updates to the Trust Registration Service (TRS)are expected to take effect in early 2026. These changes will arise from the upcoming “Money Laundering and Terrorist Financing (Amendment and Miscellaneous Provision) Regulations”, published in draft form in…
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Are your payroll year-end obligations under control?
As an employer, you must issue P60s to all employees by 31 May. A P60 is a key document summarising pay, tax, and deductions for the year and your employees will rely on it for things like tax returns, mortgage applications, and financial planning. If you miss the deadline or get it wrong, you risk…
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You Are Invited to the next MTD free briefing on 21st May 2026
From April 2026, HMRC requires all sole traders and most landlords to follow new rules under Making Tax Digital (MTD) for Income Tax (MTD ITSA). Under Making Tax Digital, HMRC requires affected taxpayers to keep digital records, submit quarterly updates to HMRC and use MTD-compatible software. HMRC is phasing MTD ITSA based on gross income…
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First Friday Networking at Maeving Ltd
We were delighted to attend another excellent First Friday networking event, this time hosted by Maeving Limited at their Coventry headquarters. Founded five years ago as the UK’s first electric motorcycle manufacturer, Maeving has been built on the rich heritage of British motorcycling. Designing and manufacturing its electric motorcycles in Coventry, the historic heart of…
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Remembering Mr Burgis: A Final Story from the Shop Floor
Following on from our earlier posts, we are pleased to share the third and final story from Evelyn, a former colleague of Mr Burgis. Evelyn worked at Burgis and Colbourne during the 1940s, the department store run by Mr Burgis alongside Burgis & Bullock. It was a time of bustling shop floors and oversized accounts…
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New Charities SORP: Income Recognition & Exchange Contracts
The new Charities SORP introduces some helpful (and occasionally head‑scratching) updates when it comes to income recognition. In respect of income the new SORP prompts you to take a fresh look at your income streams and decide whether each one is an exchange transaction or a non‑exchange transaction. So, what’s the difference? An exchange transaction…
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Corporation Tax Late Filing Penalties Have Increased – What Businesses Need to Know
Filing a Corporation Tax return late has always meant a fine, but from April 2026 it is noticeably more expensive. HMRC has increased late‑filing penalties for the first time in 30 years, and the change affects all limited companies. It applies regardless of company size, whether the business made a profit, or even if it…
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Holiday Pay Records Are Changing – What Every Employer Needs to Know
The Employment Rights Act 2025 brings major changes to UK employment law, including a new requirement from 6 April 2026 for employers to keep detailed holiday pay records for at least six years, with failure to comply potentially treated as a criminal offence carrying unlimited financial penalties. Holiday pay has often been a difficult area…
Making Tax Digital (MTD) for Income Tax represents one of the biggest changes to the UK tax system in recent years. With the first quarterly submission deadline approaching on 7th August, now is the time for businesses to ensure they are prepared. MTD for Income is relevant to a wide …
July 22, 2026
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