News

Companies House has delayed major accounts filing reforms until April 2028, giving businesses additional time to prepare. The changes will introduce mandatory digital filing, require small companies to submit profit and loss accounts, and remove abridged accounts, marking a significant shift in reporting requirements. While immediate action may not be necessary, businesses should begin reviewing their processes, software and disclosure considerations to ensure a smooth transition.

By Phil Grainger, Managing Director, Ward Williams If there is one thing business owners have learned over the last decade, it is that certainty is becoming increasingly difficult to find. Many organisations have navigated Brexit, a global pandemic, supply chain disruption, soaring inflation, rising employment costs, changes to tax legislation and an ever-evolving regulatory ...

We’re pleased to be attending this year’s Hillingdon Chamber of Commerce Business Expo on Thursday 5 June in Uxbridge and would love to see clients, contacts and local businesses there too.

HMRC has increased the approved mileage rate for cars and vans from 45p to 55p per mile for the first 10,000 business miles, effective from 6 April 2026. This long-awaited change helps employees, directors and business owners better offset rising vehicle costs. Businesses should review their expense policies, reimbursement rates and payroll processes to ensure they reflect the updated guidance and consider any backdated claims.

As of April 2027, income tax rates on savings interest and property income will increase, affecting landlords and individuals with taxable investment income. While the overall tax structure remains unchanged, higher rates will place greater pressure on net returns, particularly for higher and additional rate taxpayers.

Business owners and farming families should be aware of changes to Business Property Relief (BPR) and Agricultural Property Relief (APR), which took effect from 6 April 2026.

These reliefs have historically formed a key part of inheritance tax planning, allowing qualifying business and agricultural assets to be passed on with reduced — and in some cases no — inheritance tax liability.

Upcoming changes from April 2029 are set to reduce the tax and National Insurance advantages of salary sacrifice pension schemes, particularly for employers. Businesses may face higher costs and will need to reassess remuneration strategies, pension structures, and overall benefits packages. While details are still emerging, early planning—such as reviewing current arrangements and modelling potential impacts—will help employers adapt effectively.

From April 2028, owners of higher-value residential properties may face an additional council tax surcharge under proposed changes currently under consideration. While full details are yet to be confirmed, the move signals a broader shift towards taxing property wealth more progressively, particularly in areas such as London and the South East where property values have risen significantly. This change forms part of a wider trend in property taxation, including increased scrutiny of second homes and evolving stamp duty rules.

The Employment Rights Act reforms rolling out across 2026 and 2027 will introduce important changes for employers, including day-one rights for certain leave, updates to Statutory Sick Pay and stronger employee protections.

These developments mean businesses will need to review policies, contracts and internal processes to remain compliant and manage risk effectively. Ward Williams supports employers in aligning their HR, payroll and compliance processes with the evolving legislative landscape.

Companies House is introducing mandatory identity verification for directors, People with Significant Control (PSCs), and those filing on behalf of companies, as part of wider efforts to strengthen corporate transparency.

With a transition period underway from November 2025 and further enforcement from November 2026, individuals must verify their identity to act for a company. Businesses will also need to ensure records are accurate and processes are robust, as scrutiny increases.

These changes mark a shift towards greater accountability, making proactive compliance more important than ever.