News & Insights

As Rachel Reeves prepares for the Spring Forecast Statement in March, it’s an opportune moment to review her fiscal journey since being appointed Chancellor in 2024. Ms Reeves has faced significant challenges, from inheriting what the government described as a £22 billion ‘black hole’ in the public finances, to navigating global economic uncertainty and rising borrowing costs.
Here we examine her major fiscal statements, their impact on business and the wider economy, and look forward to Reeves’ Spring Forecast Statement 2026.

Welcome to our January Newswire.
With the end of tax season fast approaching, the 31 January deadline will signal the close of one of the busiest periods in the professional calendar.

Managing expenses is a core part of running a business — but understanding which costs are tax deductible is not always straightforward. Mistakes in this area can increase the risk of an enquiry, penalties and unexpected tax bills. Common problem areas include motor and travel costs, entertainment, training and misclassified personal expenses. HMRC has made it clear that mis‑classifying expenses is a major contributor to the small business tax gap, meaning increased focus on taxpayer compliance.

Welcome to our January Newswire.
With the end of tax season fast approaching, the 31 January deadline will signal the close of one of the busiest periods in the professional calendar.

HMRC have published guidance on what to do to disincorporate a company.

At Mercia, we watched the Autumn Budget with great interest, despite the OBR blunder that led to the details being widely leaked before the Chancellor had a chance to address Parliament.