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Could you be missing hidden risks in your business?
Introducing our Strategic Business Health Check, a simple tool to show where your business stands and where it could go next.
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✓ Identify potential risks before they become problems ✓ Highlight opportunities to improve tax efficiency and reduce liabilities ✓ Uncover areas for growth and operational improvement ✓ Plus additional insights tailored to your business goals
It’s quick and easy, take our questionnaire now! | |
Key changes to company filing requirements
The government has recently confirmed a number of significant changes to Companies House filing requirements which are expected to take effect from April 2028. These changes are aimed at improving transparency and reducing economic crime and will affect small companies.
Currently, many small companies can file accounts at Companies House without submitting a profit and loss account. From April 2028, small and micro companies will be required to file a profit and loss account with Companies House as part of their annual accounts filing.
Read our article in full by clicking below. | | | |
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Notice for January Year Ends | |
For companies with an accounting period ending on 31 January 2025, the deadline to submit an R&D claim notification form is 31 July 2026. Missing this deadline may mean losing the ability to claim R&D tax relief for that period. If you think this could apply to you, please get in touch by contacting us below. | | | |
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Advanced assurance for R&D tax relief | |
Advance assurance has historically seen very low take-up within the UK R&D tax relief regime, but that may now begin to change. Following consultation on whther a wider clearance model could reduce error and fraud while giving businesses more certainty, HMRC launched a new targeted advance assurance pilot in May 2026.
The existing advance assurance service is a voluntary scheme under which companies can submit details of their R&D activities before making a claim. | | | |
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| When is the right time for a Greentech Founder to upgrade? | |
For many Greentech founders, finance starts out as something that simply needs to “be done”. A bookkeeper, a set of accounts, and an annual tax return often feel sufficient in the early days.
But at a certain point, that setup simply stops being enough.
The challenge is that there’s rarely a single moment when the need to upgrade the finance function is obvious, until issues start appearing. | | | |
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| Cultural tax reliefs: An increasingly important source of funding | |
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Kreston Global Interpreneur Report 2026 | |
The Kreston Global Interpreneur Report 2026 has been released, offering new insight into how mid-market businesses are approaching international expansion in an increasingly complex global environment.
Drawing on the views of 1,100 business leaders worldwide, it explores what drives successful cross border growth, the challenges organisations face, and how attitudes have evolved since 2024. | | | |
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| Tom Russell: Reflecting on my year as R3 President | |
Tom Russell, Director in our Turnaround, Restructuring and Insolvency team, has completed his one-year term as President of R3, the UK’s insolvency and restructuring trade association, following his appointment in April 2025.
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Reflecting on his tenure, Tom commented: "It has been a privilege to serve as R3 President during such a significant period for the profession. The past year has highlighted a prolonged period of strain for UK businesses, with many operating on very tight margins. Maintaining strong dialogue with regulators and stakeholders remains essential to ensure the profession can respond effectively. It has been a busy and rewarding year, strengthening our profile and positioning us well to support clients in a complex and evolving landscape." | | | |
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Hospitality sector calls for 10% VAT rate | |
Hospitality businesses, teams and organisations are being urged to sign a new petition calling for the government to cut the VAT rate for the sector to 10% by UK Hospitality.
The trade group has launched #VATsTheProblem, a sector-wide campaign asking for the government to cut the rate of VAT for hospitality businesses, so it is in line with European levels. UK Hospitality is urging the entire sector to back its call by signing a new petition, with the aim to get a million signatures.
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| Advisory fuel rates for company cars | |
New company car advisory fuel rates have been published and took effect from 1 June 2026. 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 June 2026. | | | |
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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
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The information in this newsletter must not be relied on as giving sufficient advice in any specific case.
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