Hansen Sweeney

HMRC to use AI from British tech firm to spot fraud and tax return errors

HM Revenue and Customs has announced a 10-year, £175m deal with the British tech firm Quantexa to provide AI-powered technology to help improve its performance.

https://www.bbc.co.uk/news/articles/c7v9ld262n4o

HMRC announces 10-year contract with British AI company Quantexa Quantexa, a financial data platform, won the £175m contract to spot fraud and tax return errors.

UK Employment Law Reforms Set for Major 2027 Shift

UK businesses are being warned to prepare for significant employment law changes coming into force in 2027, with reforms expected to reshape hiring, workforce management and retention.

The changes include expanded unfair dismissal protections after six months’ service, tighter rules on zero-hours contracts, and mandatory equality action plans for larger employers.

https://uk.entrepreneur.com/business-news/uk-employment-law-reforms-2027-preparation/

UK Employment Law Reforms Set for Major 2027 Shift - Entrepreneur United Kingdom Expert warns UK employers to prepare early for 2027 employment law reforms, including unfair dismissal changes, zero-hours contract rules, and new equality obligations.

Consumer Credit Act reformed to protect consumers and support modern finance

The government will modernise the Consumer Credit Act for the first time in over 50 years, giving consumers clearer information and firms the flexibility to innovate.

https://www.gov.uk/government/news/consumer-credit-act-reformed-to-protect-consumers-and-support-modern-finance

Consumer Credit Act reformed to protect consumers and support modern finance The government will modernise the Consumer Credit Act for the first time in over 50 years, giving consumers clearer information and firms the flexibility to innovate.

Creative Industry tax reliefs for Corporation Tax

Check if your creative industry company qualifies as the production company for Corporation Tax reliefs or expenditure credits.

You must now include the CT600P Creative Industries supplementary page in order to make a valid claim.

https://www.gov.uk/guidance/corporation-tax-creative-industry-tax-reliefs

Creative industry tax reliefs for Corporation Tax Check if your creative industry company qualifies as the production company for Corporation Tax reliefs or expenditure credits.

Watch out, prediction markets. The 'super apps' are coming.

Super apps are loosely defined as apps that subsume most of the reasons people look at their phones — messaging, shopping and payments, social media and news. The model is China's WeChat, which combines social media, mobile payments and messaging.

https://www.businessinsider.com/next-summit-prediction-markets-super-apps-2026-3

Watch out, prediction markets. The 'super apps' are coming. Did you think prediction markets were all the rage? Time to learn about "super apps."

Revolut launches UK bank after securing full regulatory licence

Revolut Bank UK Ltd has officially received a full banking licence from the Prudential Regulation Authority (PRA), enabling the FinTech to operate as a fully authorised UK bank for the first time.

The approval allows Revolut to offer retail and business accounts with deposits protected by the Financial Services Compensation Scheme, and follows a four-year licensing process.

https://www.fstech.co.uk/fst/Revolut_Launches_UK_Bank_After_Securing_Full_Regulatory_Licence.php

Revolut launches UK bank after securing full regulatory licence Revolut Bank UK Ltd has officially received a full banking licence from the Prudential Regulation Authority (PRA), enabling the fintech to operate as a fully authorised bank in the UK for the first time

864,000 sole traders and landlords face new tax rules in two months

Sole traders and landlords earning more than £50,000 from self-employment and property are urged to act now with two months left to prepare for Making Tax Digital (MTD) for Income Tax.

If you have any questions, queries or need more information, please contact us, we are happy to help.

https://www.gov.uk/government/news/act-now-864000-sole-traders-and-landlords-face-new-tax-rules-in-two-months

Act now: 864,000 sole traders and landlords face new tax rules in two months More than 860,000 sole traders and landlords need to start using digital tax reporting from 6 April.

Business investment boost with new government tax relief

A new 40% permanent first-year allowance for main-rate plant and machinery, to support business investment and growth, is in effect. This new relief will mean businesses can deduct much of the cost of their investment in the year they make that investment, cutting their tax bill.

Business investment boosted with new tax relief taking effect today Businesses to receive boost to investment as a new first-year allowance takes effect today (Thursday 1 January), as the government continues its drive to make Britain the best place to do business.

Season’s greetings to all of our clients and associates. We’re wishing for a prosperous 2026 to you all.

Please note our office will be closed on 25 December 2025 through to our return on Friday, 2 January 2026.

Making financial gifts to loved ones? Write it down or risk giving an IHT bill too

Giving gifts can be a way to pass on wealth and reduce the inheritance tax bill on your estate, but do it wrong and you could leave family and friends more than they bargained for.

https://moneyweek.com/personal-finance/inheritance-tax/financial-gifts-iht-bill

Making financial gifts to loved ones? Write it down or risk giving an IHT bill too Giving gifts can be a way to pass on wealth and reduce the inheritance tax bill on your estate but do it wrong and you could leave family and friends more than they bargained for.