HMRC has recently clarified several points in its capital allowances guidance following consultations with professional bodies. These updates aim to reduce uncertainty and make claims easier for businesses to apply. While some ambiguity remains due to the principle-based legislation, the guidance provides useful improvements for companies planning capital investment.

The Prudential Regulation Authority (PRA) has confirmed that the Financial Services Compensation Scheme (FSCS) deposit protection limit will increase from £85,000 to £120,000 from the start of December. HM Treasury has approved the change, marking the first rise in the limit since 2017.

The Intellectual Property Office (IPO) has announced plans to increase its fees by an average of 25% from 1 April 2026, subject to parliamentary approval. The changes will apply to patent, trademark and design applications and renewals.

This is the first significant fee rise in many years, with some charges unchanged for more than two decades. According to the IPO, the increase is needed to keep pace with inflation and ensure services remain high quality and financially sustainable.

The end of the financial year is a strategic point for SMEs to assess their tax exposure and ensure they’re operating as efficiently as possible. Proper year-end planning helps safeguard compliance, manage liabilities, and capitalise on reliefs provided under UK tax law.

HMRC has started writing to taxpayers to help them prepare for the upcoming Making Tax Digital (MTD) for Income Tax rules, which come into force in April 2026.

The UK tax landscape is changing. The government’s Making Tax Digital (MTD) initiative, which currently applies to VAT, will soon extend to Income Tax Self Assessment (ITSA). From April 2026, many self-employed individuals, landlords, and sole traders will face more frequent digital reporting obligations.

The Department for Work and Pensions (DWP) has launched a new national campaign offering no-fee specialist recruitment support to UK employers through Jobcentre Plus. The service is open to all businesses, regardless of size, sector, or the number of roles they need to fill.

As part of major reforms to tackle economic crime and increase corporate transparency, Companies House is introducing new mandatory identity verification checks for company directors and key individuals. These changes form a core part of the Economic Crime and Corporate Transparency Act 2023, and will fundamentally change how UK companies are managed and validated.

From 18 November 2025, Companies House will begin requiring identity verification for all company directors and People with Significant Control (PSCs). This is part of a wider reform designed to make the UK company register more reliable and to combat economic crime.

We have known for sometime that the amendments to UK GAAP are coming and that there may be, for some businesses, quite an impact on KPIs, covenants and potentially remuneration schemes.

Have you really understood the impact of these upcoming changes and calculated any downside or potential upside to your reporting and what it means for your business?