Card Processing Issues

Yesterday, Chancellor Rachel Reeves delivered her Spring Statement. We have sifted through the details and hope the following review, which we feel will be the most significant to our clients, will be helpful.

HMRC have issued guidance confirming that from 31 March 2026 their online filing service for company accounts and tax returns will close.

Further information has been released by the Government on the increase in the trading allowance rate and when this will come into effect, but beware; the £3,000 is not a tax relief increase, only an administrative increase.

If you are a taxpayer and you are concerned that you cannot pay your tax bill on time, you have the option to set up an online “time to pay” arrangement with HMRC.  This means you can spread the cost of you tax bill over a period of 6-12 months, helping improve cash flow.