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Autumn Budget 2025: key implications for the Rural and Agricultural sector
The Autumn Budget 2025 brings a mix of measures that will shape the financial and operational landscape for rural businesses and farms over the coming years. While some changes aim to simplify succession planning and support planning capacity, others introduce cost pressures and compliance challenges.
In our article linked below, we detail the main points and the implications for the rural economy. | | James Cowper Kreston's Festive Emoji Quiz 2025
As Christmas is nearly upon us, the time has come for our Festive Emoji Quiz!
Our quiz includes Christmas themed Emojis for you to work out followed by a question related to the emoji...can you figure out all 24?
Please email all entries here no later than Tuesday 6th January 2026 for the chance to win a bottle of Champagne! Good luck, we wish you and your families a very Merry Christmas and a prosperous New Year! | | | |
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MTD penalties waived for first year of Income Tax | |
Self assessment taxpayers due to join Making Tax Digital (MTD) for Income Tax next April will not face penalties if late filing quarterly updates.
In the Autumn Budget 2025 documents, the government said it will not charge penalty points if those joining MTD submit any of their compulsory quarterly updates of income and expenses late during 2026/27. | | | |
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E-invoicing will be a fundamental change for VAT-registered businesses | |
The mandatory introduction of e-invoicing for all VAT-registered businesses selling to UK business customers from April 2029 will be a fundamental change, says the Chartered Institute of Taxation (CIOT). The government announced the requirement in the Autumn Budget 2025 policy documents.
It said: ‘Continued collaboration between the government and the private sector is essential for driving innovation. To drive productivity further, the government will require the use of electronic invoicing for all VAT invoices for business-to-business and business-to-government transactions from 2029, with a roadmap to be published at Budget 2026.’ | | | |
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Still time to start self assessment returns, says HMRC | |
Although there are less than two months until the self assessment deadline there is still time to start an accurate return, says HMRC. In addition, the tax authority is asking people filing their tax return for the 2024/25 tax year ‘What’s your filing style?’.
HMRC is launching an online poll asking people to pick how they choose to file. Are they an early bird – filing within a few days of the new tax year? A dipper – someone who dips in and out throughout the year? Or, a last minute panicker – rushing to submit their form in the last hours of 31 January?
The poll will run on HMRC’s X, LinkedIn and Facebook channels. | | | |
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Compliance & HMRC scrutiny: Understanding the new requirements | |
The merged scheme does more than redefine eligibility for claims, it also ushers in a new era of compliance and administrative oversight for businesses wanting to benefit from R&D incentives. To ensure claims are genuine and to improve transparency, HMRC has introduced additional checks and forms that businesses must now navigate.
To download the full merged R&D tax relief scheme document, please click below. | | | |
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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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