One of the most common questions we are asked by business owners is: "Should I continue as a sole trader or set up a limited company?" There is no single answer that suits everyone. The right time to incorporate depends on your profitability, future plans, tax position and attitude to administration. However, if your business is growing, it is worth reviewing your structure regularly to ensure you are operating in the most tax-efficient and commercially appropriate way. Understanding the...

Rachel Reeves has confirmed that she will deliver the Spring Statement to the House of Commons on Tuesday, 3 March 2026 . The Spring Statement is primarily an opportunity for the government to set out an update on the state of the UK economy, informed by the latest economic and fiscal forecasts from the Office for Budget Responsibility (OBR). Alongside this, the statement often serves as a platform for publishing consultations, including early-stage calls for evidence and discussions on...

From April 2026 , Making Tax Digital for Income Tax (MTD for IT) will become mandatory for many self-employed individuals and landlords. This represents one of the biggest changes to the UK tax system in recent years, moving away from a single annual tax return towards more regular digital reporting to HM Revenue & Customs . The aim of MTD for IT is to modernise the tax system, improve accuracy, and give taxpayers greater visibility over their tax position throughout the year. Who will need...