The new year marks our move into the final months of the tax year; a time when many businesses face a familiar but increasingly challenging environment. Margins are tighter than they were a few years ago, thresholds remain frozen, borrowing costs are higher, and both...
Business Asset Disposal Relief (BADR), formerly known as Entrepreneurs’ Relief, has long served as a valuable incentive for business owners planning to sell their business or shares. However, changes introduced in Budget 2024 are set to alter the landscape...
The change of government and advancement in technology has brought about significant changes over the last few years. And – as we’re probably all aware – there’s more still to come. With the aim of keeping you abreast of what these changes mean for you, the...
You may remember our article from July 2024 – Changes to the UK company size thresholds – what you need to know. In this article we outlined the proposed changes to the thresholds that were being reviewed as part of the governments aim to modernise the UK corporate...
Last month we reported on a series of changes announced to the Financial Reporting Standard 102 – known as the 2025 Triennial Review. One of the major impacts on many small businesses will be changes to lease accounting. This will directly affect how SMEs accounts are...
The Financial Reporting Standard 102 (FRS 102) is the principal accounting standard for small and medium-sized enterprises (SMEs) in the UK and the Republic of Ireland. Since its introduction in 2015, FRS 102 has provided a simpler alternative to International...
