News
At Hysons we want to make sure we are providing the latest new and useful accounting information to businesses and people in need of advice.
Key UK Tax Deadlines: September 2026 to January 2027
It’s not unusual for business owners to fall behind on tax obligations simply because they can’t see what’s coming up. The next four months are busy for everyone, from sole traders to limited company directors. That’s why we’ve put together a complete list of the key deadlines for VAT, PAYE, Corporation Tax, CIS, Self Assessment…
What Triggers an HMRC Investigation?
HMRC has a legal obligation to ensure taxes are reported accurately and honestly across the UK. Each year, its compliance teams carry out a significant volume of checks and investigations against both businesses and individuals. In 2024/25 alone, HMRC secured £48 billion in compliance yield, money that would otherwise have gone unpaid, and it is…
Financial Considerations When Setting up a New Limited Company
Setting up a limited company is an exciting move for any business. In fact, there are more than 800,000 limited companies set up in the UK annually. To ensure any business starts with a solid foundation, it’s essential to plan for strong financial health from day one. From initial setup costs to corporate tax obligations,…
Benefits in Kind Tax for Employees
Managing employee tax correctly is essential for any business, and benefits in kind (BIKs) are one of the areas where companies most commonly fall short. At Hysons, we regularly support businesses with company tax returns and planning and BIK reporting is a recurring theme. This guide explains what you need to know. What Are Benefits…
What the Income Tax Rate Rises From April 2027 Mean for Your Take-Home Pay
UK taxes and reporting have undergone a variety of changes in recent years. In April 2027, this will change again as tax rates are set to increase. While the headline of the changes may not sound too intimidating, every employee and business needs to consider what these rises mean. In this blog, we’ll explain what’s…
Understanding Cross-Border Tax Compliance
Achieving international growth for any business is exciting. However, it also brings new compliance requirements to be aware of. At Hysons, we believe it’s important to understand cross-border tax rules before international trading even commences. Keep reading to learn more. What Is Cross-Border Tax Compliance? UK companies that undertake international activities need to be aware…
What Expenses Can a Sole Trader Claim?
As a sole trader, claiming the right expenses is one of the most effective ways to reduce your tax bill. Understanding which costs are allowable helps you manage cash flow, plan ahead, and avoid paying more tax than necessary. Managing expenses properly is important for any business, but for sole traders it is especially significant…
How to Avoid Inheritance Tax When Second Parent Dies
We understand that the last thing most people want to plan for is their own passing. However, the reality is that family members can be left with hefty inheritance tax bills if the right preparations are not considered. As inheritance tax specialists, our team can mitigate this problem. In this blog, we’ll outline how to…
What the Close Company Consultation Means for Your Business
If you run one of the UK’s 5.7 million small firms, listen up. A consultation is currently open until 10th June that proposes all small businesses become ‘Close Companies’. Keep reading to find out more and to learn how this could impact your business operations if the consultation is successful. What Is the Close Company…
What Does Making Tax Digital Actually Mean for Your Business?
From radio adverts to TV commercials, it’s hard to escape messaging around Making Tax Digital at the moment. The government-run financial initiative, also known as MTD, has been designed to improve efficiency for everyone from sole traders to large businesses. Keep reading to understand how you can remain compliant and avoid any late filing penalties.…
Spring Statement 2026
The Chancellor held the Spring Statement on 3 March 2026. The government has been keen to have only one tax event per year (the Budget), and so the Spring Statement was intended to provide an interim update on the economy and public finances. Whilst the Chancellor did meet the commitment not to make major tax…
Year End Tax Planning February 2026
Key points this year For companies and business owners Profit extraction planning points Dealing with directors’ loan accounts Unincorporated business matters Plan for tax-efficient business motoring Property matters The family business FOR FAMILIES, COUPLES AND INDIVIDUALS Tax rates and allowances Tax and the family Where Gift Aid fits in Pension planning High Income Child Benefit…
Why Avoid Using AI for Tax Advice
You would be hard-pressed to find an industry that hasn’t built up a reliance on AI for day-to-day support. However, although artificial intelligence is a proven way to help companies run efficiently, there are some areas where it can cause more harm than good. In this article, we will explore the issues that can arise…
The Impacts of the Rising National Living Wage
The 2025 Autumn Budget Statement announced an upcoming increase to the National Living Wage and the National Minimum Wage, to keep wages in line with inflation. What does a rise in wage rates mean for employers? Higher wages for those on the National Living Wage (NLW) The NLW will rise from 1 April 2026 by…
Autumn Budget Statement 2025
Chancellor of the Exchequer Rachel Reeves set out tax-raising measures worth up to £26 billion in the Autumn Budget on 26 November 2025. The increases will be achieved through a range of measures, including extending the freeze on Income Tax thresholds for a further three years. Tax increases In addition to maintaining Income Tax thresholds, taxes…
Could Taxes Go Up in the Autumn Budget? How to Be Ready
The Autumn Budget will be outlined on November 26th, with the Chancellor expected to announce a number of financial changes. Issues such as rising living costs, plateauing wages and imbalances across the economy have already been cited as key issues the budget is set to help with. While there are expected to be a number…