The Autumn budget announced on 26 November 2025 by Chancellor Rachel Reeves marks the opening chapter of the 2026/7 tax year. Below are some of the key headlines that could affect your business. The rising cost of employment: wage changes The most immediate and administrative challenge for businesses stems from the confirmed increase to the statutory wage floor. The National Living Wage (NLW) for workers aged 21 and over is set to rise to £12.71 per hour from April 2026. This increase is mirrored across the lower age bands, with the minimum wage for 18-20-year-olds also rising. For many businesses, particularly those in the… Read more: The Autumn Budget: Key headlines

Making Tax Digital goes live in 2026 Significant changes are being introduced to the UK tax system. From 6 April 2026, sole traders and landlords with an annual gross income exceeding £50,000 will be legally required to comply with Making Tax Digital (MTD) regulations. Under MTD rules, affected individuals must maintain digital records using HMRC-compliant software and submit quarterly summaries of their income and expenses to HMRC. A final declaration must also be submitted at the end of each tax year, effectively replacing the current annual Self-Assessment tax return process. This government initiative aims to simplify and modernise tax reporting… Read more: Making Tax Digital