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Charity Sector Timely Reminders
A couple of reminders about changes happening this month: Fundraising Code The new code came into force on 1st November 2025. The new code is designed to be less prescriptive than the previous code and introduces a broader principles-based approach to fund raising matters. In practice this means that there is now a greater burden…
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From £85k to £120k: What the FCSC Increase Means for Your Business
If your business holds significant cash reserves, a major change is coming that could simplify your banking strategy and reduce risk. The Financial Services Compensation Scheme (FSCS) is a UK government-backed scheme that protects deposits if a bank, building society, or credit union fails. Currently, the FSCS guarantees up to £85,000 per person, per authorised…
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Identity verification requirements start from 18 November 2025
More than 1 million individuals have already verified their identity for Companies House. From 18 November 2025, identity verification becomes a legal requirement. This date is not a deadline, it marks the start of a 12-month transition period, giving your company time to make sure all directors and people with significant control (PSCs) have verified…
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Promises, Promises
For my third blog in our series on the imminent implementation of FRS 102 (2024) I thought we’d take a look at the changes to revenue recognition. Whilst in reality for many companies income will be reported in exactly the same way, the whole way to approach how to decide an appropriate accounting policy for…
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Charities SORP 2026 Has Finally Been Published!
After quite a wait and lots of debate the Charities SORP 2026 has finally been published! The new standard is effective for accounting periods beginning on or after 1 January 2026. It confirms that charities will be tiered into three categories, with each tier having differing levels of reporting requirements: As expected, the new SORP…
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Business Owners: Why the £1M IHT Relief Cap Is a Strategic Risk – Not Just a Tax Issue
From April 2026, the UK government will cap full Business Property Relief (BPR) from Inheritance Tax (IHT) at £1 million per person. Any business assets above this threshold will only qualify for 50% relief, significantly increasing the IHT liability on death. For many business owners, this isn’t just a tax change – it’s a business…
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One of the Key Changes Under FRS 102 – Leases
As promised here is our follow up blog covering one of the key headline changes under FRS 102. Leases. We’ve talked for some time about ‘bringing operating leases’ onto the balance sheet – but what does that actually look like in practice? We thought the best way would be to show a simplified example. Example…
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New Advisory Electric Rate for Fully Electric Company Cars
Burgis & Bullock is advising clients that HMRC has updated its Advisory Fuel Rates (AFRs), which now includes the Electric Rate (AER) for fully electric company cars. These changes take effect from 1st September 2025 and reflect the increasing use of electric vehicles in business travel. AFRs are reviewed quarterly and are designed to simplify…
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Timely Consideration of the 2024 Amendments to FRS 102
As accountants we have been talking about the impact of the Financial Reporting Council’s (FRC) periodic review of FRS 102 for so long now and any of our clients who are thoroughly bored by this would be easily forgiven! With the proposed changes first being published in December 2022 there’s been quite a wait until…
Understanding your business finances is about far more than meeting your statutory obligations. While many business owners focus on sales and turnover, a deeper understanding of profitability, cash flow and overall financial performance can lead to better decision-making and long-term business success. The financial statements produced by your accountant can …
August 14, 2026
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