Grass & Holm

01/10/2026

Do you know how much State Pension you're on track to receive when you retire?

According to HMRC, one in eight people surveyed have never checked their State Pension forecast.

For anyone running their own business, retirement planning is particularly important. Without an employer contributing to a workplace pension, the responsibility for building your retirement income rests largely with you.

At Grass & Holm, we encourage every sole trader and business owner to check their State Pension forecast, review their National Insurance record and consider whether they're putting enough aside for the future.

It's also worth remembering that pension contributions can offer valuable tax relief, depending on your circumstances.

Retirement might feel a long way off, but understanding what you're entitled to now gives you more time to address any gaps.

How to find out how much state pension you're likely to receive - and what you can do about it now.

15/09/2026

For SMEs, the move to electric vehicles is increasingly becoming a financial decision, not simply an environmental one.

New research from the International Council on Clean Transportation found that battery electric vehicles were around 33% cheaper to drive than comparable petrol cars in the EU in 2025. Falling battery costs and higher fuel prices could widen that gap further.

This is important for business owners, particularly those running company cars or small fleets.

But running costs are only one part of the calculation. Before changing vehicles, it’s worth looking at the total cost to the business, including purchase or lease costs, charging infrastructure, insurance and maintenance, alongside the tax treatment and available allowances.

As electric vehicles become more competitive on price, the numbers may increasingly stack up.

The important thing is to do the sums based on your own business rather than assume that what made financial sense a few years ago still does today.

01/09/2026

Europe’s workforce appears to be shrinking faster than expected and this isn’t just an employment issue. It has potentially significant implications for businesses, the economy and ultimately tax.

New LinkedIn data suggests that while hiring has slowed across the UK and Europe, unemployment hasn’t risen at the same rate. Instead, more people are leaving the labour market altogether.

For accountants and business owners, that’s worth watching.

A smaller workforce can mean greater competition for skilled employees and continued pressure on wages. For employers, that has implications for payroll costs, employer National Insurance contributions and overall workforce planning.

But there’s a wider tax question too.

Fewer economically active people potentially means a smaller pool of workers generating income tax and National Insurance revenues, at the same time as an ageing population increases pressure on pensions, healthcare and other public spending.

That raises difficult questions about where future tax revenues will come from – businesses, individuals, wealth, consumption or a combination of all four.

Demographic change can feel like a long-term issue. The interesting point here is that some of the changes expected in the 2030s may already be happening.

For businesses, understanding these wider economic trends matters because they can ultimately influence everything from recruitment and wage costs to government spending and future tax policy.

Hiring slowed in countries including Germany, France and the UK in July, LinkedIn data shows. Unemployment hasn't risen to match as more people left the job market, speeding up workforce decline.

24/08/2026

Across Europe, governments are looking at ways to encourage people to move more of their savings into investments, including through tax-friendly investment accounts.

While the UK is outside the EU, the wider conversation is still highly relevant here.

From a UK tax perspective, where you hold your savings and investments can make a significant difference to the return you ultimately keep.

ISAs, pensions and other tax-efficient arrangements can help protect investment income or gains from tax, while investments held outside these wrappers may create liabilities for Income Tax, Capital Gains Tax or Dividend Tax.

And with allowances and tax rules changing over time, an approach that made sense several years ago may not necessarily be the most tax-efficient today.

The important point isn't that everyone should move cash into the stock market. It's that savers and investors should understand the tax implications of the choices they make.

Good tax planning isn't simply about how much you earn on an investment. It's also about how much of that return you get to keep.

Growth-hungry EU governments want citizens to buy equities, and financial firms are looking for a piece of the action.

13/08/2026

Working from anywhere might sound like a great employee benefit. From a tax and compliance perspective, however, it can quickly become complicated.

Recent reporting in The Times suggests around 1,000 Bank of England employees have worked overseas, spending an average of more than 12 days working outside the UK.

For any business offering similar flexibility, there are some important questions to consider.

An employee working abroad can potentially trigger payroll obligations in that country from their first day there. At the same time, they may remain subject to UK PAYE, creating the possibility of tax being withheld in two jurisdictions.

And payroll is only one consideration.

Social security rules need to be checked, including whether reciprocal arrangements exist and whether a certificate of coverage is required. Local employment law, minimum wage requirements and immigration or visa rules may also apply.

There can even be implications for the business itself. Depending on the activities undertaken by the employee, their presence overseas could potentially create a taxable presence for the employer, bringing corporation tax, registration and profit attribution considerations into play.

Some jurisdictions offer concessions for short-term business visitors, but these vary considerably and generally need to be considered before the overseas working begins.

Flexible and international working arrangements can be valuable when it comes to attracting and retaining people.

But agreeing that someone can simply “work from abroad for a few weeks” shouldn't be treated as just an HR decision.

Tax and compliance need to be part of the conversation too.

10/08/2026

HSBC's latest results are another reminder that strong financial performance isn't just about higher profits, it's about having a clear strategy and the confidence to invest in the future.

The bank reported a 60% increase in second-quarter pre-tax profits, announced a new $1bn share buyback and raised its expectations for net interest income this year.

For business owners, there are some valuable lessons here.

Profit is only one measure of success. Equally important is understanding your cash flow, reviewing performance regularly and making informed decisions about what to do with any surplus. Should you reinvest in the business, strengthen your cash reserves, reduce debt or reward shareholders?

These are strategic decisions that can have a lasting impact on the long-term health of your business.

While most SMEs won't be announcing billion-dollar buybacks, the principle is exactly the same: a healthy balance sheet gives you more options.

Working closely with your accountant can help you understand your numbers, identify opportunities and make decisions that support sustainable growth rather than simply focusing on year-end profit.

HSBC reported second-quarter pre-tax profit of $10.1 billion on Tuesday, exceeding analysts' estimates on the back of stronger growth in banking net interest income and other higher fees.

04/08/2026

Barclays has reported a strong second quarter, with pre-tax profits rising 31% year on year to £3.3bn, while its bonus pool increased by almost 30%.

But beyond the headline numbers, the results have reignited a wider debate around how banks are taxed in the UK, including renewed calls for a windfall tax on banking profits.

For business owners, this is worth watching.

Changes to the taxation of banks may seem removed from the day-to-day realities of running a business, but shifts in government tax policy can have much wider implications for the economy, investment and the overall tax environment.

It also comes at a time when many businesses continue to face pressure from higher employment costs, borrowing costs and an evolving tax landscape.

Our advice to clients is always to look beyond individual tax announcements and consider the direction of travel. With pressure on the public finances continuing, businesses need to be prepared for further changes and understand how these could affect their costs, cash flow and longer-term plans.

Good tax planning is increasingly about being prepared, rather than simply reacting when the rules change.

Barclays Plc is moving to pay its bankers more like Wall Street firms do, offering higher variable compensation and lower fixed pay, Chief Financial Officer Anna Cross said on Tuesday.

21/07/2026

As more businesses switch to electric vehicles, it's important to keep an eye on how the rules are changing.

The Government has now confirmed that a new pay-per-mile Electric Vehicle Excise Duty (eVED) will be introduced from April 2028. Under the plans, fully electric vehicles will pay 3p per mile, while plug-in hybrids will pay 1.5p per mile. Drivers will initially self-report their mileage until MOT records take over, following changes made after the public consultation.

If you run your own business, this is more than just another motoring update.

Whether you operate a company car, manage a fleet or regularly travel to clients, these changes could have a direct impact on your future running costs and budgeting. It also highlights why reviewing the total cost of vehicle ownership should be an ongoing process, rather than a one-off decision when buying a new vehicle.

Keeping up to date with changes like these gives you time to plan ahead, avoid unexpected costs and make informed decisions that support both your business and your cash flow.

After years of trying to separate VED from the car, the government's marrying the two back together for electric cars.

13/07/2026

The Office for Budget Responsibility's latest Fiscal Risks and Sustainability report is a reminder that today's tax decisions don't happen in isolation.

An ageing population, the transition to electric vehicles, AI's impact on employment, and rising public spending will all shape the UK's tax landscape over the coming decades. For businesses and individuals alike, understanding these wider economic trends is becoming just as important as keeping up with the latest tax rules.

While none of these changes will happen overnight, they reinforce the value of proactive financial planning. The more prepared you are for the direction of travel, the better placed you'll be to make informed decisions for the future.

Tax isn't just about what happens this year. It's about understanding what's coming next.

Our Fiscal risks and sustainability report examine the likely major pressures on the public finances over the next 50 years. Long-term projections are highly uncertain and sensitive to the underpinning assumptions. But almost all our scenarios show public debt eventually moving onto an unsustainable...

07/07/2026

Pressure is something every business owner faces.

When you run your own business, it's easy for pressure to become one big, overwhelming feeling. Revenue targets, client expectations, cash flow, competition and the fear of getting things wrong can quickly blur into one.

John Amaechi's advice is to break pressure down into its component parts. Ask yourself what is actually causing it, what you can control and whose opinions genuinely matter.

Business owners receive feedback from many directions. Some of it is valuable insight from trusted clients, colleagues and mentors but some of it is simply noise.

What is important is knowing the difference.

What helps you manage pressure when things get challenging?

Pressure can come from scrutiny, isolation or fear of failing publicly. The key is to identify what you can control and whose words you should pay attention to, says this leadership expert.