News and Insights
Plain-English accounting updates, tax guidance, and business insights for UK startups and SMEs.
Latest articles
Bokio Accounting Software Closing UK Operations on 30 June 2026
Swedish accounting platform Bokio is shutting down its UK service on 30 June 2026. All UK users must export their data before the deadline to avoid losing access to invoices, receipts, and accounting records.
FRS 102 and FRS 105 Revenue Recognition Changes Take Effect in 2026
UK GAAP is moving to a new five-step revenue recognition model in FRS 102 and FRS 105, effective for accounting periods from 1 January 2026. This aligns UK GAAP with IFRS 15 and changes how businesses record customer revenue.
IASB Issues IFRS 20 Standard for Regulatory Assets: Effective 1 January 2029
The International Accounting Standards Board has issued IFRS 20 Regulatory Assets and Regulatory Liabilities, effective from 1 January 2029. The new standard improves financial reporting for rate-regulated entities in utilities and infrastructure sectors.
Companies House Accounts Filing: Software-Only Mandate from April 2028
All UK companies must file accounts using commercial software from April 2028. Paper and web filing routes will close. Small companies and micro-entities must now file profit and loss statements.
Anti-Money Laundering Reform: New Rules Come Into Effect 30 June 2026
Parliament approved 15 targeted AML reforms to reduce compliance burden on accounting firms. Enhanced due diligence now applies only to blacklist countries. Changes take effect 30 June 2026.
Data Protection Complaints: Formal Procedures Required by 19 June 2026
UK organisations must establish data protection complaint procedures by 19 June 2026 under the Data Use and Access Act 2025. Complaints must be acknowledged within 30 days.
GDPR Complaints Process: New June 2026 Deadline for UK Businesses
From June 2026, all UK organisations processing personal data must establish formal complaints procedures. The ICO requires acknowledgment within 30 days and timely resolution communication. Failure to comply risks enforcement action.
Companies House Filing Delays: Same-Day Processing Suspended
Companies House confirmed 11 June it cannot process same-day account filings until further notice. Companies and accountants must plan for longer processing times when filing accounts and director details.
AI Adoption Accelerating in Accounting Firms: Xero JAX Usage Up 61% in Three Months
Artificial intelligence is transforming accounting practice workflows. Xero's JAX assistant saw 61% usage growth in Q1 2026, automating transaction handling from data capture to reconciliation. QuickBooks and other platforms are rapidly embedding AI capabilities.
HMRC Confirms MTD for Income Tax: What Self-Employed Owners Must Do Now
HMRC has confirmed that Making Tax Digital for Income Tax Self Assessment (MTD ITSA) will apply to self-employed individuals and landlords with income over £50,000 from April 2026. Businesses in scope must use compatible software to keep digital records and submit quarterly updates. Here's what you need to action before the deadline.
Companies House ACSP Deadline: Accountants Must Register Before October 2026
Companies House has set an October 2026 deadline for accountants and tax advisers performing anti-money laundering (AML) supervised activities to register as Authorised Corporate Service Providers (ACSPs). Firms that miss this deadline will not be able to file on behalf of clients via the new Companies House online service.
Corporation Tax in 2026: Small Profits Rate, Marginal Relief, and What to Pay
The UK corporation tax regime has two rates: 19% for profits up to £50,000 and 25% for profits over £250,000, with marginal relief applying in between. Many small companies are confused about what they owe. This plain-English guide explains the current rules and when to plan proactively.
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