Almost half the people eligible for Making Tax Digital (MTD) for Income Tax have missed the first filing deadline, according an analysis from international accountancy and business advisory group Azets. Figures from HMRC showed 436,000 taxpayers filed their first MTD for Income Tax quarterly … [Read more...]
News for: Accountancy
Azets explains July corporate insolvency figures
There were 1,931 corporate insolvencies in July 2026. This was an increase of 4.5% compared to June 2026 (1,847) and a 4.9% decrease compared to July 2025 (2,031). Jonathan Amor, Restructuring and Insolvency Partner at international accountancy and business advisory group Azets, explains the … [Read more...]
Manufacturers urged to check eligibility for support with electricity costs
Cowgills, part of the Sumer Group and formerly IN Accountancy in Stockport, is urging businesses to assess their eligibility for an upcoming government scheme to support them with high electricity costs. The British Industrial Competitiveness Scheme (BICS) is set to begin in April 2027 to support … [Read more...]
Iran war pushing up borrowing costs for North West SMEs, believes Azets specialist
The ongoing war in Iran is pushing up the cost of borrowing for North West SMEs, and may be the final nail in the coffin for some businesses, says a sector specialist from accountancy firm, Azets. Mark Barrie, Head of Debt Advisory at Azets, believes the conflict – which began in February and … [Read more...]
436,000 file first quarterly update through Making Tax Digital for Income Tax
More than 436,000 sole traders and landlords have successfully submitted their first quarterly update after Making Tax Digital for Income Tax became mandatory for those with annual incomes over £50,000. Taxpayers who have not yet sent their update can do so now in a few simple steps through … [Read more...]
Stockport compliance professional appointed to FCSA board
The Freelancer & Contractor Services Association (FCSA) has welcomed the Compliance Director of a Stockport-based payroll specialist to its board to support umbrella companies. Chris Bloor (pictured), Compliance Director of Bramhall-based Sapphire, has been appointed to the FCSA board after … [Read more...]
Deadline approaches for first Making Tax Digital quarterly update
More than 864,000 sole traders and landlords within scope of Making Tax Digital (MTD) for Income Tax have until 7th August to submit their first quarterly update. The quarterly update covers income and expenses for the first three months of the tax year for those earning more than £50,000 from … [Read more...]
Expert Opinion: How Stockport’s SMEs can trade with more confidence after a decade of Brexit change
Paul Richards, partner at the Stockport office of accountancy and business advisory group, Xeinadin, discusses how, 10 years on from the Brexit vote, SMEs in the borough are continuing to trade internationally. Ten years on from the Brexit referendum, and with more than 360,000 UK businesses … [Read more...]
Tax advisers have less than one month to register under new requirements
HMRC is warning tax advisers that they have less than one month to register under new mandatory requirements that come into force in August. The first phase of Modernising and Mandating Tax Adviser Registration (MMTAR) closes on 18 August 2026 for new tax advisers, or advisers interacting … [Read more...]
Late payments data shows improvements ahead of new legislation
New official statistics have revealed large businesses are improving payment practices and the time taken to pay suppliers ahead of new legislation to strengthen protections for small businesses against late payments. Since data began being collected by government in 2018, the time large … [Read more...]
Two-thirds of Making Tax Digital for Income Tax clients haven’t registered, Azets finds
Following a Freedom of Information (FOI) request from the accountancy and business advisory firm, Azets has found that more than 580,000 people who should have registered for Making Tax Digital (MTD) for Income Tax have not done so. HMRC data shows that 864,000 individuals and landlords should … [Read more...]
Late payments legislation set to offer world’s strongest protections for SMEs, finds new report
Small businesses across the UK are set to benefit from the strongest commercial late payments regulations of any major economy, according to a new report conducted by the Enterprise Research Centre. The report found that new legislation to protect smaller firms from late payments and unfair … [Read more...]
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