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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…
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Countdown to Autumn Budget 2025
With just over one month to go until the Autumn Budget, businesses and individuals are being reminded to take stock of their financial planning. At Burgis & Bullock we are closely monitoring developments to ensure our clients are prepared for what could be a critical Budget update on 26th November 2025. As debt is now…
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Making Tax Digital for Landlords and Sole Traders – What you need to know
From April 2026, Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) will change the way sole traders and landlords report their income to HMRC. Whether you’re a seasoned business owner or just starting out, Burgis & Bullock’s free MTD briefings will help you get ahead of the curve. What to Expect Who…
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Have You Declared All Your Dividend Income?
Burgis & Bullock is reminding clients to check their Self Assessment tax returns for the year ended 5th April 2024. HMRC has launched a new wave of ‘one to many’ letters, this time focusing on potential omissions of dividend income from 2023/24 Self Assessment Tax Returns. Remember to check that your tax return for the…
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Charities SORP Update: What’s Changing and How to Prepare
The Charities SORP-making body (SMB) has completed its consultation phase, with nearly 150 individuals and organisations contributing valuable feedback. As we approach the release of the revised SORP this October, Burgis & Bullock is highlighting the key developments charities need to be aware of – and how to prepare. Some changes are already set in…
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Lloyds Bank Charity Quiz Night Success
A big thank to Lloyds Bank for inviting us to their Annual Charity Quiz Night on 2nd October at the Manufacturing Technology Centre (MTC). With a record turnout of 24 teams, the event raised over £3,000 for Myton Hospice and thanks to Lloyds Bank’s generous match funding, the total reached over £6,000! Unfortunately, Burgis &…
Last week, our trainees took part in an internal audit training session designed to strengthen their technical knowledge and support their professional development. While gaining practical skills was the key objective, we also wanted to make the learning experience engaging and enjoyable, so we incorporated some games. At Burgis & …
October 14, 2026
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