MTD Self Assessment Penalty Changes: What You Need to Know
If you are within the scope of Making Tax Digital for Income Tax, or approaching the threshold that will bring you into scope, there is an important change to the penalty regime that you need to understand. The way HMRC charges penalties for late submissions and late payments is changing under MTD for Self Assessment, […]
Major Changes Coming to UK-EU Shipping of Goods: The 2026 Customs Overhaul Explained
If your business ships goods from the UK into the European Union, an important change is coming on 1 July 2026. The EU is removing the traditional duty-free exemption for low-value imports and replacing it with a mandatory €3 customs duty on low-value parcels. Here is what that means in practice, and what you can […]
Temporary VAT Reduction on Children’s Meals and Family Attractions: What Businesses Need to Know
The government has announced a temporary VAT reduction that will affect a wide range of consumer-facing businesses this summer. From 25 June 2026 to 1 September 2026, a reduced rate of VAT of 5% will apply to certain supplies of children’s meals, children’s admission tickets, and entry to qualifying family attractions. This replaces the standard […]
Inheritance Tax (IHT) on Pensions: What the 2027 Changes Mean for You
For decades, leaving your pension untouched has been one of the most effective inheritance tax planning strategies available. Typically, pensions sat outside of estates for IHT purposes, meaning whatever was left in your pot when you died could pass to your loved ones free of inheritance tax. However, from 6 April 2027, that strategy is […]
What Future Tax Reform Could Mean For Discretionary Trusts
Discretionary trusts have long been a valuable tool for estate planning, offering flexibility, control and a way to manage inheritance tax (IHT) over time. However, the UK tax landscape is now shifting, with changes significant enough to warrant a careful review. The Autumn Budget 2025 has introduced a series of reforms that will change how […]
Spring Statement 2026 – The Key Takeaways
Overview Many possible changes were the subject of speculation leading up to the Budget: this list includes things that have been ruled out, as well as changes that the Chancellor announced These key points include measures that were announced previously but are about to come into force Measures which will not take effect until future […]
Spring Statement 2026 – The Complete Summary
The purpose of the Spring Statement was to present the economic and fiscal forecast prepared by the Office for Budget Responsibility (OBR). Their report estimates economic growth, inflation, unemployment rates and other factors for the next five years, and discusses the effect on the government’s finances. The economists recognise that theirs is not a precise […]
How Our Virtual Finance Office Can Transform Your Finance Function
For many growing businesses, managing finances becomes increasingly challenging as things scale. Processes that once worked well start to create friction, and leadership teams lack the information they need to make confident decisions. HB&O’s Virtual Finance Office (VFO) is designed to solve these challenges by providing a fully outsourced, customisable finance function that integrates seamlessly […]
New Business Guide: Essential Checklist for Limited Company Owners
Setting up a limited company is a big milestone, but it also comes with responsibilities. This guide gives you a clear, practical overview of the key things you need to know to help you stay compliant, manage your finances and grow with confidence. Company Setup: Directors and Share Structure Legally, a company is only required […]
HB&O encourages action on Making Tax Digital for Income Tax
A leading Midlands accountancy firm is urging small business owners not to get caught out by a major tax legislation change coming into force in April. HB&O, which has offices in Coventry, Leamington and Birmingham, is warning that many owner-managed business might not be aware of the change or could miss the deadline as they […]
HB&O supports Motormax investment deal
A fleet safety company in Lichfield is on the road to further growth after securing private equity investment in its 15th anniversary year. Motormax, a family-run business based at Shenstone Business Park, has entered into a strategic investment partnership with MxP Partners LLP (“MxP”), which is renowned for scaling high-growth businesses. Initially formed by brothers […]
HB&O delivers reverse advent calendar to support LWS Night Shelter
A leading independent accountancy firm spreads festive cheer to those in need after presenting a special self-curated reverse advent calendar to a local homeless charity. Every day through December, members of the team at HB&O, which has offices in Birmingham, Coventry and Leamington, have been donating essential items to the over-sized advent calendar. The gift […]