Bradshaw Johnson Chartered Accountants St Neots, Yew Tree House, The Shrubbery, Church Street, Saint Neots (2026)

06/10/2026

📊 Nearly 3 in 10 UK Businesses Report Falling Turnover in August

New data from the Office for National Statistics paints a challenging picture for UK businesses this autumn.

Key findings from the latest Business Insights and Conditions Survey:

📉 28% of trading businesses saw turnover fall in August — up from 22% the month before
📉 Among larger firms (10+ employees), this rises to 31%

Top concerns:
😟 Economic uncertainty — cited by 29% of businesses overall
😟 Labour costs — the biggest worry for larger employers, at 37%
💰 Nearly 3 in 10 businesses reported higher input costs in August
💰 11% raised their own prices, with 17% planning to raise prices in October — led by the construction sector at 32%

⚡ Energy costs remain a major worry:
64% of businesses are concerned about energy prices — rising to a striking 90% among accommodation and food service firms.

✅ The good news? Despite the pressures, the vast majority of businesses are still trading — 95% were open in September, with 85% operating at full capacity.

What does this mean for you?

If you're a small business owner, these figures offer a useful benchmark for how your peers are managing rising costs, pricing decisions and energy exposure this autumn.

💬 Concerned about managing rising costs in your business? Get in touch with our team — we're happy to talk through your options.

📞 0800 026 0854 | 🌐 bjca.co.uk

05/10/2026

🏛️ Pensions are changing for Inheritance Tax.

From 6 April 2027, most unused pension funds and pension death benefits will count as part of a person's estate for IHT, something they generally haven't done until now.

What this means:
📌 The personal representatives (the people managing the estate) will be responsible for reporting and paying any IHT due on those pension assets.
📌 Transfers to a surviving spouse or civil partner stay exempt.
📌 Some benefits, including death-in-service benefits from registered schemes, remain outside the scope.

If you're planning your estate, or you hold significant pension funds, it's a good time to review your will and wider plans. Speak to us about estate planning. We're here to help.

📞 0800 026 0854 | 🌐 bjca.co.uk

02/10/2026

📱 Making Tax Digital for Income Tax reaches more people from April 2027.

If you're self-employed or a landlord with qualifying income over £30,000 in your 2025/26 tax year, you'll need to use MTD from 6 April 2027. The threshold drops again to £20,000 from 6 April 2028, based on your 2026/27 income.

What MTD means in practice:
✅ Keeping digital records of your business or property income
✅ Using compatible software
✅ Sending HMRC quarterly updates every three months
✅ Submitting your return through your software

Sound daunting? Getting set up early makes the change far smoother, and cloud accounting software can help. Not sure whether you're in scope? Get in touch and we'll help you check.

📞 0800 026 0854 | 🌐 bjca.co.uk

01/10/2026

⚠️ Attention Va**ng Sector: New Duty Rules Take Effect 1 October 2026

If you manufacture, import, wholesale or sell va**ng products, HMRC is urging you to make sure you're ready — the new Va**ng Products Duty and Va**ng Duty Stamps Scheme come into effect from 1 October 2026.

Why the change?

The new duty forms part of the government's wider efforts to tackle youth va**ng, improve public health, and support a smoke-free generation. It's expected to raise over £550 million a year by 2030–31.

What does this mean for your business?

🏭 Manufacturers & duty suspension businesses: Make sure you have the necessary HMRC approvals in place before the new regime begins.

🏪 Retailers & wholesalers: Check with your suppliers that the products you stock meet the new requirements.

📅 Key dates to know:
➡️ Until 30 November 2026 — UK representatives and warehousekeepers can buy transitional duty stamps
➡️ Until 31 December 2026 — Transitional stamps can still be affixed to products
➡️ From 1 January 2027 — Only digital duty stamps can be affixed
➡️ Until 31 March 2027 — Retailers/wholesalers can sell eligible unstamped stock already held
➡️ From 1 April 2027 — All va**ng products sold or supplied in the UK must carry a valid stamp

👜 Travellers bringing va**ng products into the UK for personal use will also face new rules from 1 October — with different requirements depending on whether you're entering Great Britain or Northern Ireland.

🚨 Important: HMRC has warned that businesses failing to comply could face civil or criminal sanctions.

Need help understanding how these changes affect your business? Get in touch with our team — we're happy to help you get ready.

📞 0800 026 0854 | 🌐 bjca.co.uk

30/09/2026

📢 HMRC Reviewing New Powers to Recover Unpaid Tax Debts

HMRC is looking at proposals that would give it new powers to recover smaller, persistent tax debts from individuals and businesses who repeatedly don't engage with collection efforts.

What's being proposed?

Under the plans, HMRC could recover debts through automated monthly instalments taken directly from a taxpayer's UK bank or building society account — but only as a last resort, once standard collection methods have been fully exhausted.

📊 To put the scale into context: HMRC estimates over 750,000 lower-value debts, worth more than £2 billion in total, go unresolved each year after normal collection attempts fail.

🔒 Proposed limits:
➡️ Capped at £5,000 for individuals
➡️ Capped at £10,000 for businesses

What safeguards are proposed?

Before any deduction, taxpayers would receive a formal Pre-Deduction Notice (PDN) — a final chance to:
✅ Pay the debt
✅ Contact HMRC
✅ Set up a Time to Pay arrangement
✅ Raise a formal objection

A 14-day notice period is currently proposed, though several professional bodies are pushing for this to be extended to at least 30 days.

HMRC has also proposed additional protections for those needing extra support or facing genuine financial hardship, including affordability checks and manual case reviews.

📅 The consultation closed on 28 August 2026, with a formal summary of responses expected later this year.

Worried about a tax debt, or want to understand how these proposals could affect you? Get in touch with our team — we're here to help.

📞 0800 026 0854 | 🌐 bjca.co.uk

29/09/2026

Hobby or Hustle? Understanding the Tax Rules for Side Hustles

Do you earn a bit of extra money outside your main job? Whether it's selling handmade crafts online, dog walking at weekends, tutoring in the evenings, or picking up delivery shifts, you're not alone. Side hustles have become an increasingly common way to top up income — but many people don't realise that, once earnings pass a certain point, HMRC expects to hear about it.

Here's what you need to know about where the line between "hobby" and "hustle" actually falls, and what to do once you've crossed it.

🔹What counts as a side hustle?

Almost any regular income-generating activity outside your main employment could count, including:

- Selling items online (via platforms like eBay, Vinted, Etsy or Depop)
- Freelance or creative work (writing, design, photography)
- Tutoring or coaching
- Dog walking or pet sitting
- Delivery or rideshare driving
- Renting out a room, driveway or equipment
- Content creation or social media income

If you're doing any of these on top of your main job, it's worth understanding how HMRC views that income.

🔹The £1,000 trading allowance

This is the key number to remember. HMRC allows everyone a £1,000 tax-free trading allowance each tax year for income from self-employment or casual trading activities.

Earn under £1,000 in total from your side activities? In most cases, this counts as a hobby in HMRC's eyes, and you don't need to register or report it.
Earn more than £1,000? You've moved beyond "hobby" territory. HMRC will expect you to register for Self Assessment and declare that income — even if it was paid in cash, or if you don't think of it as a "real" business.

It doesn't matter whether the money lands in your bank account, comes to you in cash, or arrives via a payment app — if your total side income exceeds £1,000 in a tax year, it needs to be reported.

🔹Why the distinction matters

Treating a genuine income stream as "just a hobby" can catch people out. HMRC has been increasing its focus on online marketplaces and payment platforms, which are now required to share seller data under new reporting rules. If your side income has been building up unreported, it's increasingly likely to come to HMRC's attention — and the earlier you get on top of it, the better.

Getting it right isn't just about avoiding penalties. It also means you're accurately tracking your own income, claiming any expenses you're entitled to, and avoiding a stressful scramble if HMRC does come asking.

🔹What to do if you've gone over £1,000

If your side hustle income for the tax year exceeds £1,000, you'll typically need to:

- Register for Self Assessment with HMRC if you haven't already.
- Keep records of your income and any related expenses throughout the year.
- Complete a Self Assessment tax return, declaring your side hustle income alongside any other income.
- Pay any tax and National Insurance due by the relevant deadlines.

You can choose to either deduct your actual business expenses from your income, or simply deduct the £1,000 trading allowance itself (rather than your real expenses) — whichever works out better for you.

🔹Keeping good records

Even if you're not sure yet whether you'll go over the £1,000 threshold, it's good practice to keep a simple record of what you earn and spend from the start. This makes it far easier to:

- Work out whether you need to register
- Complete your tax return accurately
- Claim any allowable expenses you're entitled to
- Provide evidence if HMRC ever asks questions

🔹The bottom line

A bit of extra income from something you enjoy doesn't automatically mean a tax headache — but once your side hustle earns you more than £1,000 a year, it's no longer just a hobby as far as HMRC is concerned. Knowing where you stand, and acting early, means you can enjoy your side income with confidence instead of worrying about what might be around the corner.

Not sure whether your side hustle needs to be declared, or need help registering and filing? Get in touch with our team — we're happy to talk you through it.

📞 0800 026 0854 | 🌐 bjca.co.uk

28/09/2026

📉 Waiting for Cheaper Borrowing? You May Need to Rethink Your Plans

The Bank of England held interest rates at 3.75% in September — but three members of the Monetary Policy Committee actually voted to raise them to 4%.

Why? Inflation is above target, and rising energy costs are adding further pressure. If this feeds through into wages and prices, rates could stay higher for longer.

So what should businesses do?

Rather than trying to predict the Bank's next move, the smarter approach is to make sure your borrowing and investment plans still work under a range of interest rate scenarios.

💡 Try this: Build three forecasts for any major investment or finance decision:
1️⃣ Rates stay broadly the same
2️⃣ Rates rise modestly
3️⃣ Rates eventually fall

This can significantly change the picture. A project that looks affordable if rates fall might leave very little breathing room if they don't. Meanwhile, an investment that still stacks up under higher rates could be worth pursuing now, rather than waiting indefinitely for cheaper borrowing.

🔍 Don't forget existing borrowing:
✅ Fixed-rate loans nearing renewal — know what refinancing could cost
✅ Variable-rate borrowing and overdrafts — keep an eye on rising costs eating into profit and cash flow

The bottom line: Don't base decisions on hopes of lower rates. Stress-test your plans instead — knowing how your business copes if borrowing stays expensive gives you a much stronger foundation for decision-making.

💬 Want help reviewing your borrowing or investment plans against different rate scenarios? Get in touch with our team — we're happy to talk it through.

📞 0800 026 0854 | 🌐 bjca.co.uk

25/09/2026

📢 New First Time Filing a Tax Return? HMRC Has Made It Easier

HMRC has launched an improved online service to make registering for Self Assessment quicker and simpler.

⏰ Key deadline: If you need to submit a tax return for the first time for the 2025–26 tax year, you must notify HMRC by 5 October 2026 to avoid a potential penalty.

✨ What's new?
✅ Access via your Personal Tax Account
✅ Pre-populated information to save you time
✅ Online support throughout registration
✅ Save and return later without losing your progress
✅ Confirmation by email or text once registered
✅ Your Unique Taxpayer Reference (UTR) now arrives within 72 hours online — instead of up to 15 days by post!

🤔 Not sure if you need to register? You may need to if you're:
👉 Newly self-employed with gross trading income over £1,000
👉 A new partner in a business partnership
👉 Receiving more than £2,500 in untaxed income

📅 Remember: The deadline to file your 2025–26 tax return and pay any tax owed is 31 January 2027.

❗ No longer need to file a return? Let HMRC know as soon as possible — but keep meeting your filing obligations until they confirm you're no longer required to.

💬 Have questions about registering or your Self Assessment obligations? Get in touch with our team — we're happy to help.

📞 0800 026 0854 | 🌐 bjca.co.uk

24/09/2026

Key tax deadlines for October and November 2026 — it pays to plan ahead.

October is busy: Corporation Tax falls due for companies with 31 December 2025 year-ends on 1 October, and anyone with new Income Tax or Capital Gains Tax liabilities for 2025–26 has until 5 October to notify HMRC. VAT returns for periods ending 31 August are due 7 October. Paper Self Assessment returns and Companies House accounts for January 2026 year-ends must be filed by 31 October.

In November, VAT returns for periods ending 30 September are due 7 November. It's worth noting that 22 November falls on a Sunday, so any electronic payments due that day should clear in advance.

See full list of dates/deadlines 👉⏰🗓 https://www.bjca.co.uk/news?command=viewitem&id=32389

Forward planning keeps penalties at bay. If any of these deadlines apply to you or your business, we're happy to help.

📞 0800 026 0854 | 🌐 bjca.co.uk

23/09/2026

💰 £210 million is now available for growing businesses in the South East — is your business eligible?

The British Business Bank has launched a new £210 million investment fund for smaller businesses across the South East of England, including rural, coastal, and urban areas throughout the region.

The fund offers two types of finance:
📌 Loans from £25,000 up to £2 million
📌 Equity investment up to £5 million

This is part of a broader British Business Bank programme now covering every UK nation and region outside London — designed to increase access to early-stage and growth finance for businesses that might otherwise struggle to find it.

Before applying, be clear on what you need and why:
✅ How much funding do you actually require for this stage of your plan?
✅ Is a loan (regular repayments, you retain full ownership) or equity (no regular repayments, but the investor shares in your business) more appropriate?
✅ Do you have current management accounts, financial forecasts, and a business plan ready?

Borrowing too much increases costs. Borrowing too little can leave a project unfinished. Getting the right amount — and the right type of finance — matters.

We can help you assess your funding needs, prepare financial forecasts, and build a compelling case for lenders or investors. Speak to us before you apply.

📞 0800 026 0854 | 🌐 bjca.co.uk

Bradshaw Johnson Chartered Accountants St Neots

06/10/2026

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