With colder days on the horizon, many pensioners will soon receive their Winter Fuel Payment, a vital support when heating bills start to rise. But as that help rolls out, fraudsters are ramping up efforts to exploit it. Recent data shows scam referrals have leapt by a staggering 153 per cent over the last week of September compared to the week before.

The scam surge

These scams typically arrive via SMS or text message, with the fraudster posing as a government or tax official claiming you need to “apply” or “confirm details” to receive your payment. Recipients might be prompted to click a link, enter personal data or bank account details, or even make a payment upfront.

But here is the key point: you never have to apply or confirm anything. Winter Fuel Payments are made automatically to those eligible.

These messages had been trending down after a peak in June, but they are now increasing again just in time for payments to land in bank accounts next month. The timing is no coincidence.

Official warnings and advice

Pat McFadden, the Work and Pensions Secretary, issued a clear warning:

“If you get a text message about Winter Fuel Payments, it’s a scam. They will be made automatically so you do not need to apply.”

Jonathan Silvester, HMRC’s Digital Defence Lead, added that people should not let themselves be rushed. If someone pressures you to act immediately, it is a red flag. Never give personal or financial details or click on suspicious links or attachments.

Independent Age, a charity supporting older people, emphasised that scammers are targeting those already anxious about paying their bills. The messages can be unsettling, implying that the recipient must act to receive what is rightfully theirs.

What you can do

Here is how to protect yourself and how to help warn others:

1. Do not respond to texts asking you to “apply” or “confirm”. If a message mentions Winter Fuel Payments and asks you to do something, it is almost certainly fake.
2. Never share bank details or personal information. The government will never ask for that by text.
3. Forward suspicious texts to 7726. This helps telecom providers block the numbers.
4. Delete the message and do not click any links or attachments.
5. Report suspicious contact. For scams mimicking HMRC, forward emails to phishing@hmrc.gov.uk; for calls or texts, report via GOV.UK.
6. Check eligibility through the official government website if unsure. Payments are automatic and confirmed by letter in October or November.

Final thought

Each time the government offers new financial support, scammers see an opportunity. The Winter Fuel Payment is no exception. With the surge in scam texts, it is more important than ever to stay alert, understand how the genuine system works, and share the warning with friends and family. No one should lose money to a scam disguised as help.

The Chancellor’s Autumn Budget is only weeks away, and there is growing speculation that key tax reliefs and allowances could soon be reduced or restricted. Reports suggest that higher-rate pension relief, capital gains tax rates and dividend allowances may all come under review.

For business owners and higher-rate taxpayers, this could be a good time to review your position and take action before any announcements are made. Acting early could help preserve existing tax advantages and avoid being caught out by last-minute changes.

Pension top-ups may be worth reviewing

If you are a higher-rate taxpayer, topping up your pension before the Budget could be a sensible precaution. There is increasing talk that higher-rate tax relief may be replaced with a single flat rate of around 30 per cent. Making additional contributions now could therefore secure valuable relief while it remains available.

We can help you check how much unused pension allowance you have from the previous three years and confirm the maximum contribution that can be made without breaching the annual limit. Once the figure is agreed, you will need to contact your financial adviser to arrange the transfer of funds.

Consider dividend timing

If the Budget brings higher dividend tax rates or a further cut in the dividend allowance, taking available profits before the announcement could make sense. The timing of dividend payments is something that can be reviewed easily in advance, allowing you to decide whether an early payment would be beneficial.

Review planned disposals

There are also strong rumours that capital gains tax could be aligned with income tax rates from April 2026. If that happens, gains could be taxed at 40 or 45 per cent instead of 20 per cent. If you are considering selling an investment property, shares, or other chargeable assets, it may be worth reviewing the timing of any disposal now.

Make full use of current allowances

Now is also a good time to check that you have made full use of your ISA allowance, savings allowance and annual capital gains exemption for the current tax year. These smaller reliefs are often overlooked but can all add up.

Talk to us before the Budget

We recommend reviewing your position before the November Budget to ensure you are using every available planning opportunity.

Please get in touch if you would like us to review your pension contributions, dividend timing or planned disposals. A short discussion now could make a real difference later, and help you beat the Budget rather than being caught by it.

For many business owners and high value individuals, protecting family wealth is as important as creating it. Succession planning, deciding how ownership and control will pass on to the next generation, is no longer just a matter for the future. With possible changes ahead to inheritance tax (IHT) and Business Property Relief (BPR), this is an ideal time to review existing arrangements.

Family businesses often assume that shares or property will qualify automatically for IHT reliefs. However, the conditions can be strict. The business must normally be trading rather than holding investments, and the qualifying ownership period must be at least two years before death or transfer. If a company is mixed-activity or part trading and part investment, there can be uncertainty over how much of the value qualifies.

Similarly, property and agricultural enterprises that rely on Agricultural Property Relief (APR) need to ensure that land is being actively farmed and that ownership and occupation requirements are met. The rules are detailed and sometimes interpreted narrowly by HMRC.

Succession planning should therefore be treated as a continuing process rather than a single event. Reviewing company structures, shareholder agreements, and wills ensures that ownership passes smoothly and that tax reliefs are not lost. In some cases, establishing a family investment company or discretionary trust may be the best way to separate control from beneficial ownership and to protect wealth across generations.

It is also worth considering the role of pensions within succession planning. Pension funds usually sit outside the estate for IHT purposes, and nominations can be updated at any time.

A properly structured plan provides peace of mind for both founders and successors. It reduces the risk of disputes, ensures the right people are in control, and preserves as much family wealth as possible. Discussing your long-term plans with us now will help ensure that your business and family assets remain secure, compliant, and ready for the future.

Interest rates have now settled at levels many business owners and investors have not seen for over a decade. Even if the Bank of England begins to trim the base rate later this year, most commentators expect the cost of borrowing to remain well above the ultra-low rates of the past. That means every small business and higher-income individual should be thinking carefully about both sides of their balance sheet; the money they owe and the money they hold.

On the borrowing side, many companies and households are now facing the end of fixed-rate loans or mortgages arranged several years ago. Replacing these loans can mean a noticeable jump in interest costs, reducing cash flow and profitability. For directors, this might also affect drawings and dividends. Reviewing finance arrangements before they renew is therefore essential. Options may include refinancing with a longer-term fixed rate, negotiating flexible repayment terms, or repaying part of a loan where surplus cash is available.

On the savings side, higher rates are opening new opportunities. It is no longer sensible for business current accounts to hold large sums earning little or no return. Moving surplus funds into notice or fixed-term deposits can make a real difference, especially when supported by accurate cash flow forecasts. Individuals with significant personal savings should also ensure they are using tax-efficient wrappers such as ISAs or pensions where possible.

For limited companies, the use of directors’ pension contributions remains one of the most effective ways to take advantage of higher deposit returns while achieving corporation tax relief.

In short, higher interest rates are a mixed blessing. Borrowers face higher costs, while savers can finally earn a return worth having. A review with us will help identify how best to balance these two effects, manage debt prudently, and make cash work harder for both business and personal wealth.

Even the most advanced accounting software is built on a principle that has stood the test of time: double entry bookkeeping. First described more than 500 years ago, it remains the foundation of every set of accounts today. For business owners, understanding the basics can make reports and figures much easier to follow.

What is double entry?

Double entry means that every financial transaction affects at least two accounts. One side records where the money is coming from, the other shows where it is going. This ensures that the books always balance. In practice, for every debit there is an equal and opposite credit.

The accounting equation

At the heart of double entry is the accounting equation:

Assets = Liabilities Equity

Assets are what the business owns, liabilities are what it owes, and equity represents the owners’ interest. Every transaction will change at least two of these areas, but the overall equation must always stay in balance.

Debits and credits explained

The terms “debit” and “credit” can be confusing because they mean different things depending on the account type. The basic rules are:

• Assets increase with debits and decrease with credits
• Liabilities increase with credits and decrease with debits
• Equity increases with credits and decreases with debits
• Income is recorded as a credit
• Expenses are recorded as a debit

By following these rules, the accounts reflect the true financial position of the business.

An example in practice

Suppose a business buys a new computer for £1,000, paid from the bank account. The double entry would be:

• Debit: Computer equipment (asset increases) £1,000
• Credit: Bank account (asset decreases) £1,000

The books balance, and the transaction is fully recorded.

Why it matters

Double entry is more than a technical exercise. It gives business owners confidence that every transaction is captured, helps spot errors quickly, and forms the basis of reliable financial statements. Without it, reports such as the profit and loss account or balance sheet would not be possible.

Final thoughts

Modern software hides much of the detail, but the double entry rules are still working behind the scenes. For business owners, knowing the basics can make it easier to interpret accounts and to have more informed conversations with their accountant.

It is common for small business owners to put themselves at the back of the queue when it comes to pay. Staff are paid, suppliers are paid, tax bills are covered, and then, if anything remains, the owner may take a share. At first glance this may feel responsible and even admirable. However, there are strong reasons why owners should place their own remuneration higher up the list.

A reward for risk and effort

Running a business involves risk. Owners often commit capital, work long hours, and carry responsibility for decisions that affect employees and customers. It is reasonable that this commitment is rewarded. By prioritising their own pay, owners recognise the value of their contribution and avoid falling into the trap of always sacrificing personal needs for the sake of the business.

Encouraging discipline in the finances

If owner pay is treated as an afterthought, the business will expand to use whatever funds are available. This can create a cycle where there is never enough left for the person in charge. Setting a regular and realistic remuneration level encourages the business to operate within tighter boundaries. It focuses attention on efficiency and profitability since the owner’s pay is regarded as a non-negotiable cost in the same way as wages or rent.

Personal financial security

Placing personal income at the bottom of the pile can create real strain. Household bills, mortgages, and personal commitments do not wait until the business has a good month. Regular, predictable remuneration gives owners the stability to plan their personal finances with confidence. Without it, stress builds and can spill over into business decisions, sometimes leading to poor choices.

Clearer planning for growth

When owners set a fair level of pay from the outset, they gain a clearer picture of the true profitability of their business. If the company can cover staff, overheads, taxes, and the owner’s pay, then any surplus can be invested in growth or kept as reserves. This avoids the illusion of higher profits that appear only because the owner is underpaying themselves. Investors and lenders are also more likely to trust figures that include a realistic allowance for management remuneration.

Conclusion

Paying yourself first does not mean ignoring obligations to staff or suppliers. It means acknowledging that your role has a cost and that your efforts deserve fair reward. By building owner remuneration into the structure of the business, you create financial discipline, personal security, and a more accurate view of profitability. In short, prioritising your own pay strengthens both the business and your wellbeing.

If you cannot pay your tax bill, it’s crucial to contact HMRC as soon as possible. They may offer support through a Time to Pay arrangement, allowing you to repay your debt in instalments based on your financial situation. Ignoring the debt can lead to enforcement action, including visits to your home or business by HMRC or the use of debt collection agencies. The debt collection agencies are regulated by the Financial Conduct Authority and will only contact you by letter, phone, or SMS. They will not visit you in person at your home or place of work.

If these measures to do not work, HMRC can recover the debt using more serious measures. These include taking control of your possessions, recovering money directly from your bank account, adjusting your tax code or using court action. HMRC may also pursue debt through charging orders, deductions from wages or pensions or third-party debt orders.

If all else fails, insolvency proceedings may be started, including bankruptcy or winding-up orders. HMRC also has international recovery agreements that allow foreign tax authorities to collect UK tax debts if you live or have assets abroad.

If you are affected by any of these issues, please let us know so we can help you.

Banks must now give 90 days’ notice before closing accounts, giving customers more time to respond.

Since April 2026, new government rules strengthen protections for individuals and small businesses at risk of unfair bank account closures. Under the legislation, banks and payment service providers are required to give at least 90 days’ written notice before closing an account or terminating a payment service, commonly known as debanking. A significant increase from the previous 2-month limit.

Banks are also required to provide a clear explanation for the closure, allowing customers to challenge the decision including through the Financial Ombudsman Service. These changes are designed to protect customers, particularly small businesses, who have often found their accounts shut down without notice or reason, leaving them unable to operate or seek alternatives.

The new rules form part of the government’s wider Plan for Change, aimed at delivering economic security and supporting growth. The rules came into force for relevant new contracts agreed from 28 April 2026 onwards and also apply to the termination of basic personal bank accounts.

There are exceptions in cases where closure is necessary to comply with financial crime laws. Existing protections which prohibit a bank from discriminating against a UK consumer based on political opinions or beliefs remain in place.

Properties needing repairs still count as homes and false claims to recover Stamp Duty Land Tax could mean big tax bills and penalties.

HMRC has issued a warning to homebuyers about rogue tax agents promoting false Stamp Duty Land Tax (SDLT) repayment claims, especially those based on the condition of properties. Following a recent Court of Appeal decision, it has been confirmed that properties requiring repairs remain liable for residential rates of SDLT if they retain the fundamental characteristics of a dwelling. This applies even if the properties are temporarily uninhabitable.

Some agents exploit this by misleading buyers into believing they can reclaim SDLT by arguing the property is “non-residential.” These agents often charge hefty fees and leave homeowners liable for repayment of the tax, penalties, and interest.

HMRC’s press release on the matter provides an illustrative example of a person who bought a house in London for £1,100,000 with his solicitor filing the SDLT return and SDLT being calculated at the residential rates (£53,750). The home required some modernisation and repair.

The homebuyer was then targeted by a repayment agent who claimed he could recover £9,250 in SDLT due to property repairs. The agent took a 30% fee, and the homebuyer received £6,475. Later, HMRC carried out a compliance check and found the property was residential all along. This meant that the homebuyer was left owing the full £9,250, plus interest and penalties, with the agent refusing to assist.

The case reinforces that a property’s poor condition does not alter its classification as a dwelling if it is structurally sound and previously used as a home. SDLT claims that are invalid can result in serious financial consequences for the buyer, who is ultimately responsible for the accuracy of any SDLT repayment submission.

We would be happy to help you consider where you are eligible to make a claim without incurring unnecessary fees or risks.

There is no confirmed date for the Autumn Budget, although most commentary points to late October or early November. The Treasury has not announced a day, which helps explain why rumours are circulating. Market conditions have tightened since early summer, and borrowing costs remain elevated. That combination reduces fiscal headroom and increases the likelihood that revenue-raising options, or tax base reforms, will feature more prominently than giveaways.

Property taxes are doing the heavy lifting in the rumour mill

A series of briefings has put property near the top of the potential reform list. One strand is a levy paid by sellers of higher-value homes, often framed around a price threshold, for example sales above a mid to upper six-figure level. The idea is presented as a way to smooth transactions, to rebalance the burden between buyers and sellers, and to support a wider overhaul of stamp duty and council tax.

Another property angle that has been assessed in the press is a potential narrowing of the exemption for gains on main residences. The suggested approach would keep principal private residence relief for the vast majority of homes, while tapering or removing relief above a high valuation band. This would be a significant change to a long-standing relief, so treat it as a high-salience, low-certainty option until official documents appear. If something in this area does emerge, transitional rules, valuation mechanics, and anti-forestalling provisions would need careful study on the day.

Pensions stories are circulating again

Commentary has revived last year’s debate about the 25 per cent pension commencement lump sum. Some reports suggest that lowering the effective cap could raise meaningful revenue without changing contribution reliefs or headline income tax rates. Professional bodies are already engaging in the discussion. Since similar trails did not land previously, it is sensible to remind ourselves that acting solely on rumours can create irreversible tax outcomes. Any change, if pursued, could come with anti-forestalling measures to prevent a rush of withdrawals ahead of the effective date.

Inheritance tax remains a live testing ground

There is renewed talk of tightening the treatment of lifetime gifts and the taper that applies when gifts are made within seven years of death. The thrust of these suggestions is to reduce the scope for reducing an eventual inheritance tax bill through long-range planning, while avoiding a full rate increase. Specifics are scarce at this stage. If reforms appear, expect a focus on definitions, documentation requirements, and the interface with existing exemptions such as normal expenditure out of income.

Dividends and investment income are in the frame

Briefings continue to highlight the dividend regime. Possibilities include removing the small dividend allowance, now at a modest level, and adjusting dividend tax rates at the margins. For many owner-managed companies the combination of reduced allowance and possible rate shifts would raise effective liabilities on extraction. It is worth considering year-end planning that can be adapted quickly, so directors can weigh salary, dividends, pension contributions, and benefits with up-to-date figures once the Chancellor has spoken.

Income tax thresholds and the freeze question

There is ongoing speculation about the future of the personal allowance and higher rate thresholds. An extension of the freeze would quietly raise revenue as nominal incomes rise. This would be consistent with the constraint of maintaining headline rates for income tax, national insurance, and VAT, while still meeting fiscal rules. The political messaging may emphasise stability and fairness, while the numbers do the heavy lifting in the background.

A final calibration

Until the Treasury releases the official documents, everything above remains unconfirmed. The most reliable guide to what finally appears is the fiscal arithmetic calculated in the run-up to the statement. If headroom is tight, expect a bias toward base-broadening, threshold freezes, and relief adjustments. If conditions improve, do not be surprised to see targeted growth measures paired with a smaller number of highly specific tax changes that deliver revenue without breaking stated pledges.