As we kick off 2026, it’s the perfect time to get your business in shape for the year ahead. From understanding your numbers and planning for tax changes like Making Tax Digital, to staying on top of payroll, VAT and compliance, small proactive steps now can save time, reduce stress, and help your business thrive. In this issue, we share practical guidance, key updates, and expert support to help you make informed decisions and build solid foundations for the months ahead.
Just weeks to go until Making Tax Digital for Income Tax comes into effect …
From April 2026, sole traders and landlords with income over £50,000 will need to keep digital records and submit quarterly updates to HMRC using approved software, plus a final year-end declaration. Eligibility is based on your latest tax return, so now’s the time to check where you stand.
We’ve put together a simple guide below explaining what you need to do next. If you’re unsure how this affects you, just get in touch with the team.
Making Tax Digital (MTD) – Quick Guide
- What’s changing?
From April 2026, Income Tax reporting is going digital for sole traders and landlords. - Who’s affected (and when)?
- April 2026 – Income over £50,000
- April 2027 – Income over £30,000
- April 2028 – Income over £20,000
- What you’ll need to do:
- Keep digital records (using MTD-approved software like Xero)
- Submit quarterly updates to HMRC
- Send a year-end final declaration
- Register before your start date
- What’s the main difference?
No single annual tax return – reporting moves to quarterly updates instead. - How we can help:
We can set up your software, train you, manage submissions, or handle everything for you.
Discover more in our blog on Making Tax Digital
How to Get Ahead in 2026
As 2026 gets underway, many business owners are thinking about how to make this year stronger, steadier and more profitable. The key isn’t doing more, it’s focusing on the right things and doing them well. That means understanding your numbers, planning ahead, and getting proactive advice before issues arise. From cash flow forecasting and tax efficiency to payroll, VAT and Making Tax Digital, the businesses that will thrive in 2026 are those with solid foundations and a clear plan.
Read our latest blog How to Get Ahead in 2026: Top Tips for Your Business and find practical ways to focus your time and effort this year.
Employment Rights Act Update – Essential Information for Employers
The Employment Rights Bill has now been approved and represents the most significant upgrade to UK employment law in a generation. The new measures will be introduced in phases, meaning early preparation will be particularly important for small and growing businesses with no or limited HR support.
Key highlights include:
– The proposed “day one” unfair dismissal right has been replaced with a reduced qualifying period of six months
– A substantial increase in the number of employees eligible to bring employment tribunal claims
– Day-one rights for statutory sick pay and certain family leave entitlements
Our partner at Brave HR, Stacey Lowrence, is hosting a series of events to help you understand how these changes will impact your business. Including a webinar on Thursday 5th March 2026 at 10:00 – 11:00am. Can’t attend? Don’t worry – the webinar will be recorded so simply get in touch with Stacey to request a copy at Stacey.lowrence@brave-people.com
Find out more and book your spot
Your One-Stop Shop for Legal, HR and Financial Support
We work closely with trusted partners in HR, Legal and Financial Planning so we can support every aspect of your business. Our legal partner can assist with shareholder agreements, supplier and client contracts, and probate matters; our HR partner helps with employment contracts, handbooks and workplace compliance; and our independent financial advisers provide guidance on pensions, succession planning and long-term financial security. Together, it means we’re a true one-stop shop for your business’s needs. Click here to read more and contact us today so we can put you in touch with the right expert.
Companies House identity verification – have you done it yet?
Since 18 November 2025, directors, people with significant control (PSCs) and others involved in UK companies are legally required to verify their identity under new Companies House rules. These changes are designed to improve transparency, reduce fraud and protect UK businesses.
As an Authorised Corporate Service Provider (ACSP), Richard Riley & Associates can manage the entire verification process for you, keeping everything straightforward, secure and fully compliant.
Click here to read our blog to find out who needs to verify, what happens if you don’t, and how we can help you stay on the right side of the rules.
If you have any questions or would like to discuss your business’s finances, don’t hesitate to get in touch. We’re always here to help. Have a great month ahead.
Richard