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Payrolling Benefits in Kind – is your business ready?
The Government has mandated the payrolling of benefits in kind from April 2026 as a measure towards: - Simplifying the tax system
- Collecting income tax in real time
- Reducing the administrative burden
If your business provides taxable benefits in kind to employees, you will be affected by these changes.
Find out more about what the new rules are, what the changes mean and how we can help in our latest article, by clicking below. | | UK urged to remove low value customs duty relief
Goods sold direct to UK consumers by overseas sellers avoid customs duty on import if the consignment value is less than £135, although VAT is due. Overseas sellers who take advantage of this relief include the fast fashion Chinese companies Shein and Temu.
The low value relief was envisaged to be used primarily by small independent overseas sellers not large corporations.
To read our article in full or to speak to our Indirect Tax team, please click below. | | | |
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Webinar: Navigating the Upcoming Changes to FRS 102
In this webinar, our Audit and Assurance specialists, James Pitt and Sam Britton, covered everything you needed to know about the FRC’s significant amendments to FRS 102, which are set to take effect from 1 January 2026, and their potential impact on financial reporting. | | | |
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Q1 2025 Quarterly Economic Survey
The Q1 QES is now open until 10th March 2025. This survey presents a valuable opportunity for the Thames Valley business community to contribute their insights that will help shape the upcoming Thames Valley Report, set to be published in mid-April.
Are you part of the Thames Valley business community? We encourage you to take part in the survey by clicking below. | | | |
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Catch up on our latest webinar, where our Employment Tax specialists help navigate the complexities of year-end tax compliance. This session provides an update on the current landscape and upcoming changes, as well as insights and opportunities to help you prepare your business for the new tax year.
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Workplace efficiencies and how to achieve them
Employment costs are rising, and costs arising from employment litigation are set to increase too. For many employers this comes on the back of rising costs stemming from Brexit, and so it’s no wonder that employers are looking to reduce staff-related expenditure wherever they can. | | | |
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Selling your business? Let’s talk about tax
We know that understanding the tax implications of your business sale is critical to securing the best outcome and our expert team are here to support you throughout your journey.
We work closely with our clients, providing them with a partner lead, bespoke service to protect value when it matters most. We also work closely with our award-winning corporate finance team - or your existing advisers - to ensure a seamless service throughout the entire sale process. | | | |
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University Student Union loses VAT case on catering from a bar
Anglia Ruskin University (ARU) recently lost a request for a Judicial Review challenging HMRC’s decision that food sold at a Student Union bar does not qualify for the VAT education exemption.
Universities and Higher Education (HE) providers can supply catering to their students VAT-free if they are considered an “eligible body”. Read our full article by clicking below. | | | |
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Government consults on mandatory e-invoicing
The government has launched a consultation on plans for the rollout of electronic invoicing (e-invoicing) in the UK.
The 12-week consultation is being jointly conducted by HMRC and the Department of Business and Trade (DBT) and will consider whether to make e-invoicing mandatory for businesses in the UK. E-invoicing is the digital exchange of invoice information directly between buyers and suppliers. | | | |
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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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