| |
| |
| |
| |
| |
Autumn Budget 2025
This week, Rachel Reeves delivered the 2025 Autumn Budget. Guided by the OBR’s latest outlook, signals slower growth, the budget signals slower growth, higher near-term inflation, and a record tax take of 38% of GDP by 2030–31, with fiscal targets only narrowly met.
Below, you can access our Autumn Budget Summary report which provides a clear overview of the key measures announced in the Chancellor’s statement. Throughout the summary, you will find helpful insights designed to support your understanding of how the proposed changes could impact you personally.
We also held an online seminar which was delivered by our panel of experts with guest speakers, discussing the changes announced and the impact on individuals and businesses. To watch the full seminar, please click below. | |
| |
| |
| |
The merged R&D tax relief scheme: What does it mean? | |
The landscape of incentives for Research and Development (R&D) in the UK has witnessed a significant transformation with the rollout of the merged scheme for R&D tax relief. | |
Overview of the merged scheme: Changes & impact
The merged R&D tax relief scheme, introduced for accounting periods beginning on or after 1 April 2024 to encourage British innovation, consolidates previous tax incentives into a single, unified framework. Businesses, both large and small, now access R&D tax relief through a harmonised process, designed to reduce complexity and encourage broader participation. | | | |
To download the full merged R&D tax relief scheme document, please click below. | |
| |
| |
| |
| Profits & dividends after you leave the UK | |
HMRC has changed the tax rules for people who move abroad, take dividends while non-resident, and then return to the UK.
From 6 April 2026, any dividends you take while living abroad may be taxed when you come back to the UK, if you return within a certain time window. This is a major tightening of the rules and removes what used to be a key exemption. | | | |
| |
| |
| |
James Cowper Kreston Partner represents Great Britain at UCI Gravel World Championship 2025 | |
James Cowper Kreston is proud to announce that Fiona Hawkins, Partner, has represented Team Great Britain at the UCI Gravel World Championship 2025, held on 11 October in the Zuid-Limburg region of the Netherlands, with the start in Beek and the finish in Maastricht.
The UCI Gravel World Championship is an annual global event organised by cycling’s world governing body, the Union Cyclist Internationale (UCI). | | | |
| |
| |
| |
Christmas crafters urged to check tax rules | |
HMRC is urging those making money from Christmas crafts, seasonal market stalls, or selling festive items to check if they need to report their earnings. As the festive season approaches, the tax authority has launched a Help for Hustles campaign.
This aims to remind anyone earning extra income from activities like making Christmas decorations, upcycling furniture for seasonal sales, or running market stalls, that they will need to tell HMRC if they earn more than £1,000. | | | |
| |
| |
| |
UK inflation rate falls for first time since March | |
The UK inflation rate fell to 3.6% in the year to October, according to the latest data from the Office for National Statistics (ONS).
October’s decline was led by a smaller rise in gas and electricity prices compared with a year ago as well as a drop in hotel prices, the ONS said. | | | |
| |
| |
| |
VAT zero rate on medical goods extended
| |
HMRC have updated VAT Notice 701/6 “Charity funded equipment for medical use”.
Until recently, HMRC considered that equipment could only be VAT zero-rated by external providers if it was capable of being used in medical practice. | |
Replica items and training models did not qualify for relief. Section 4.2.2 of the Notice has been updated by HMRC to make clear that medical equipment includes that designed for ‘the training of medical professionals’. Section 4.9 has been updated to describe when ‘training models’, such as resuscitation models, can be zero-rated when used in medical or veterinary, or first aid training. | | | |
| |
| |
Advisory fuel rates for company cars | |
New company car advisory fuel rates have been published and took effect from 1 December 2025. The guidance states: ‘you can use the previous rates for up to one month from the date the new rates apply’. The rates only apply to employees using a company car.
The advisory fuel rates for journeys undertaken on or after 1 December 2025 can be found by clicking below. | | | |
| |
| |
| |
| |
James Cowper Kreston is a leading firm of accountants and business advisers with offices across the South of England. We deliver focused, innovative advice to a diverse range of businesses and individuals helping our clients to maximise their potential.
If you have any questions about the topics covered in this newsletter or want to explore how we can help you please contact us here:
Email: info@jamescowperkreston.co.uk
Call: 01635 35255
James Cowper Kreston
| | | |
| |
| |
The information in this newsletter must not be relied on as giving sufficient advice in any specific case.
| |
| |
| |
| |
| |
