Welcome to May's Financial Update from Ward Williams
Welcome to May's Financial Update from Ward Williams.
The start of the new 2026/27 tax year has brought a number of changes, updates and planning considerations for businesses and individuals alike. Alongside immediate tax and compliance developments, there are also wider changes on the horizon that many businesses, landlords and taxpayers should now be preparing for.
In this edition, we have brought together a range of insights, guidance and practical updates covering topics including Making Tax Digital for Income Tax, Companies House developments, business tax planning and HMRC enquiry support. We also share some wider updates from across Ward Williams and the communities we continue to support.
As always, if any of the topics featured raise questions or you would like to discuss how changes may affect you, your business or your family, our team is here to help.
What’s changing in 2026 and beyond?
A number of significant tax, regulatory and compliance changes are being introduced between 2026 and 2029.
Individually, each change may appear manageable. Taken together, they represent a meaningful shift in how individuals, families and businesses will need to approach tax, planning and compliance.
UK Budget & Tax Changes: What it means for you
Stay up-to-date with the latest insights and developments from the Budget.
Tax planning strategies: A guide for Small Medium sized Enterprises (SMEs)
As a SME business owner, the thought of tax season can evoke feelings of dread. The complexities of tax regulations, coupled with the fear of making mistakes, can be overwhelming. With so many responsibilities on your plate, it’s easy to overlook effective tax strategies that could save you money and enhance profitability.
Making Tax Digital
Making Tax Digital for Income Tax is now underway, with self-employed individuals and landlords with qualifying income over £50,000 having entered the new reporting regime from April 2026.
Whilst the changes will affect some taxpayers immediately, this is only the beginning of HMRC’s wider move towards digital tax reporting, with further groups expected to fall within the regime in the years ahead. As a result, even those not currently mandated may wish to begin considering how these changes could affect them in future.
For some, the transition may simply involve adapting existing systems and processes. For others, it may mean moving towards digital record keeping and quarterly submissions for the first time.
To help clients better understand the changes, what they mean in practice and the steps involved, we have created a dedicated Making Tax Digital hub and downloadable guide which you can access below.
Companies House WebFiling security issue: What you need to know
Companies House has recently sent an e-mail to all registered e-mail addresses that they hold on their records regarding an issue with its WebFiling service. While the issue has now been resolved and was not the result of a cyber-attack, it is important that businesses are aware of what happened and take a moment to review their company records as a precaution.
Tax Enquiry Fee Protection Service
Our Tax Enquiry Fee Protection Service is an insurance-backed service that protects you and your business from the professional fees we incur on your behalf if HMRC opens an enquiry, compliance check, visit or investigation into your tax affairs.
Ward Williams Supports Youth Employment Initiative in Hillingdon
Ward Williams is proud to be contributing to the growing conversation around youth employment in Hillingdon, following the recent involvement of Corporate Services Director, Colin Hamilton, in a Youth Employment Hub roundtable alongside partners from across the local business and education community.
Join Us at Stand 23 at the Hillingdon Chamber of Commerce Business Expo 2026
Join us at the Hillingdon Chamber Expo 2026 on Thursday 5 June. We’ll be exhibiting throughout the day and would love to see clients, contacts and local businesses there. Register using our dedicated booking link or QR code below and come and say hello at Stand 23.”
Make Your Voice Count and Shape What’s Next
Got a few minutes? Turn it into real impact.
Complete the QES survey before the deadline of 9th June and help shape the outlook for Surrey and the wider economy next quarter. Every response helps build the bigger picture for local business.
Jump in, have your say and be part of what happens next.
Important financial dates
A helpful 2026 calendar that includes all the important financial dates to keep you on track for the year head.
Any assumptions, opinions and estimates expressed in the information contained in this content constitute the judgment of Ward Williams Limited and/or its associated businesses as of the date thereof and are subject to change without notice. This information does not constitute advice and professional advice should be taken before acting on any information herein. No liability for any direct, consequential, or other loss arising from reliance on the information is accepted by Ward Williams Limited. Ward Williams Limited is regulated by the Institute of Chartered Accountants in England & Wales. More details are available on our website at www.wardwilliams.co.uk
