Latest news and industry insights

HMRC have clarified the position on Self Assessment tax return reporting requirements for directors of close companies and updated their guidance for directors of charities.

HMRC have updated guidance on UK VAT refunds for non-UK businesses in a VAT group. Revenue & Customs Brief 10 (2026) explains changes to how non-UK businesses in a VAT group should make future UK VAT refund claims and the transitional arrangements. It also explains how to ask HMRC to reconsider claims made since 1 January 2021 that have been refused.

Mayors across England are to be given the power to charge a tourist tax on overnight stays which would apply to British and foreign visitors alike.

The troubled Shetland SaxaVord Spaceport project has been saved. The £30 million rescue package for the ex-RAF station in Unst was announced the day after a rapidly rolled-out new UK space strategy was presented by the government.

The Apprenticeship Levy has undergone its biggest overhaul since its introduction, with major changes taking effect from 1 August 2026. For Small to Medium-sized Enterprises (SMEs), the most significant development is the expansion of what levy funds can be used for under the new Growth and Skills Levy. This expansion comes alongside tighter funding rules, making planning more important than ever.

The Chancellor, John Healey, has given a number of speeches explaining how he intends to boost growth, reduce red tape and maintain fiscal responsibility.

The latest Mergers and Acquisitions (M&A) data from the Office for National Statistics (ONS) reveal a depressing landscape for UK companies. Foreign acquisitions of UK companies soared in value to £25.4 billion, up £9.7 billion from Q1 2026 and £15.7 billion higher than Q2 2025, highlighting how cheap UK company valuations are compared to foreign markets.

The UK government has unveiled its comprehensive response to the consultation on the post-2025 rollout of smart meters for non-domestic sites.

Companies House has changed its login process and from December objections to a limited company being struck off must be made through its ‘Make an objection’ online service.