On 21 July 2025, the government published draft legislation for Finance Bill 2025-26 for consultation. In this brief episode, Mark Morton shares his immediate reaction. 

Much of the content was pre-announced, including:

• Inheritance Tax Overhaul – the government is proceeding with reforms to agricultural and business property reliefs, effective from April 2026, and bringing unused pension funds and death benefits into the scope of IHT from April 2027.
• Making Tax Digital (MTD) Evolves – the legislation aims to refine and simplify the MTD Income Tax and penalty reform regimes, including the deferral of implementation for specific groups and the pre-announced reduction in the qualifying income threshold to £20,000 from 2028/29 (based on returns for 2026/27).
• Tax Adviser Regulation - HMRC will mandate registration and minimum standards for tax advisers from April 2026, aiming to improve compliance and transparency.
• Carried Interest Recast – As announced at Autumn Budget 2024, qualifying carried interest will be taxed as trading income from 6 April 2026, aligning the tax treatment with other forms of remuneration.

For more information on this topic and more, please visit www.mercia-group.com for further details.

Helen Knight and Norman Allison discuss some of the key points to consider around Making Tax Digital for Income Tax Self Assessment. Following a recent lecture we take the opportunity to unpack some of the most frequently asked questions, clarify common misconceptions, and explore what these changes mean for taxpayers and particularly their advisors.

For a more in depth consideration of Making Tax Digital for Income Tax access the on demand recording of the lecture referred to in this podcast.

We have also written a Topical Issue to help you communicate the key changes and requirements to clients, here. 

For more information on this topic and more, please visit www.mercia-group.com for further details.

Jenny Faulkner and Gemma Archer discuss common audit quality findings following the publication of ICAEW's latest audit monitoring report and reflect on issues identified in Mercia's own file reviews.

For more information on this topic and more, please visit www.mercia-group.com for further details.

In our latest episode, our in-house VAT expert, James Hurst, shares some brief thoughts on recent VAT cases that caught his eye.

For more information on this topic and more, please visit www.mercia-group.com for further details.

Mark Morton breaks down the government's abrupt reversal on winter fuel payments and the tangled tax mechanics that follow. From pensioners navigating deductions to the complexities of taxable income, he asks—does anyone in power truly understand self-assessment? A sharp, insightful take on yet another policy puzzle.

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In this episode, Gemma Archer rounds up the key points from the publication of Charities SORP exposure draft and consultations relating to the financial thresholds in charity law.

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Helen Knight examines the implications of the upcoming changes to company size thresholds, effective April 2025, on off-payroll working and IR35 rules.

Gain a deeper understanding of IR35 with our IR35: The Definitive Guide course.

Stay ahead of key regulatory updates and keep your clients informed with insights from our latest newsletter. 

For more information on this topic and more, please visit www.mercia-group.com for further details.

In the aftermath of the Spring Statement, a number of consultations have been released on the government website. 

Mark Morton delves into the Making Tax Digital Consultation and how this could potentially impact accountants over the next few years. 

For more information on this topic and more, please visit www.mercia-group.com for further details.

In this short episode, join Mark Morton as he reflects on the Spring Statement delivered by Chancellor Rachel Reeves today (25 March 2025).

Don't forget there is still time to order your Spring Statement Summary to easily communicate the key announcements to your clients.

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Mark Morton takes a look at the proposed IHT changes for pensions from April 2027.

Communicate tax changes easily with expert content that makes a difference to your clients. 

Spring Statement - https://www.mercia-group.com/promote/all-promote-products/budget-and-tax-rates/spring-statement-2025/ 

Tax Cards - https://www.mercia-group.com/promote/all-promote-products/budget-and-tax-rates/tax-cards-and-rates/ 

For more information on this topic and more, please visit www.mercia-group.com for further details.

Mark Morton takes a look at the current position on changes to APR and BPR. 

Communicate essential tax rates to your clients this spring with Mercia.

Order personalised Tax Cards for your firm now.

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Jenny Faulkner and Gemma Archer discuss the FRC's 2025 campaign to support UK SMEs and how the market study presents a once-in-a-lifetime opportunity for firms to have their say and impact the future of the audit profession from an SME perspective.

For more information on this topic and more, please visit www.mercia-group.com for further details.

Mark Morton takes a look at possible changes to ISAs in the run-up to the Spring Statement.

Order your Spring Communication essentials and communicate tax updates to your clients with ease.

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Mark Morton reviews the recent issues relating to employment status ahead of our Spring Tax Update courses. 

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Communicate essential tax updates to your clients with Mercia this spring. 

Click Spring Statement and Tax Cards for more information.

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Mark Morton discusses the recent issues relating to travel and subsistence ahead of our Tax Update courses this Spring.

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James Hurst explores HMRC’s recent communication to smaller charities regarding VAT claims. Are some organisations inadvertently claiming too much?

With real-life case studies and tribunal cases, James will break down these issues at the upcoming Mercia Charities Conference. Book your place today

For more information on this topic and more, please visit www.mercia-group.com for further details.

Mark Morton discusses the recent issues affecting state pensions, ahead of our Spring Tax Update courses starting in March 2025. 

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Mark Morton discusses the recent developments in R&D, ahead of our Tax Update and R&D courses this Spring.

URLS for further information:
Tax Update - What's New for Spring 2025
Research and Development - The Definitive Guide

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Helen Knight examines some of the risks of technology recently covered in the media and some of the opportunities AI can provide.

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Helen Knight summarises HMRC's most recent agent updates in advance of tax filing deadlines and upcoming changes.

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Lee Eagling and Danny Noon discuss the recently published legislation which will change company size thresholds in April 2025 and the factors both entities and practitioners should be considering.

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Joanne Gregory, a Senior Manager in Mercia's A&A and Compliance team, joins Shez Hamill from Caseware to discuss the latest trends in the accounting and auditing space.

Delving into the evolution of the profession, from traditional paper-based methods to the adoption of cloud technology and AI, the podcast covers market consolidation, regulatory changes, and the increasing importance of data analytics and sustainability assurance reporting. They also explore how firms can stay compliant with evolving standards and the role of AI in driving efficiency and quality in audits. 

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James shares his personal thoughts regarding the complexity of the new regime, especially for smaller private schools getting to grips with VAT for the first time.

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James Hurst looks beyond the big news headlines on how to keep up to date on VAT.  

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