Bytheway & Co Accountants and Business Advisors

04/09/2026

Targeted subsidies, rather than expensive tax breaks, are the most cost-effective way of supporting employers to get young people into work, according to Resolution Foundation analysis.

The think tanks warns that the number of young people not in employment, education or training (NEET) passed one million earlier this year. It says this is a crisis that risks scarring the living standards of a generation.

A range of solutions have been proposed to encourage firms to hire more young people. But a Resolution Foundation report shows that there is a vast gulf in their cost-effectiveness.

The report estimated that the Youth Jobs Grant, which offers firms £3,000 to hire an 18-24-year-old who has been on Universal Credit for six months or more, will create 2,800 additional jobs at a cost of around £36,700 each.

The Jobs Guarantee, which funds six months' part-time employment for those out of work for at least 18 months, comes in at roughly £38,000 per additional job, making it three-and-a half times cheaper than scrapping employer National Insurance contributions (NICs).

02/09/2026

The government is stepping up its efforts to reconnect young people with unclaimed savings in Child Trust Funds (CTFs).

Around 6.3 million Child Trust Fund accounts were opened for children born between 1 September 2002 and 2 January 201

More than 750,000 young adults still have unclaimed matured accounts, holding £2,200 on average and totalling over £1.6 billion.

CTFs were introduced to give every child a financial asset at adulthood. However, accounts can go unclaimed for a number of reasons, including difficulty locating them, people forgetting they have them, or a decision to leave the funds invested for the time being.

The government has set up a Child Trust Fund Taskforce, bringing together CTF providers to drive a coordinated effort to increase reunification of accounts.

Members of the Taskforce will include One Family, Coutts, Nationwide, HSBC UK, Pilling, The Coventry (Co-operative), Sheffield Mutual, Unity Mutual, Forester, Healthy Investments and The Share Foundation.

31/08/2026

Please note that Bytheway Accountants are closed today, Bank Holiday Monday 3st August, and will reopen as normal on Tuesday 1st September.

We look forward to assisting you when the office reopens. Find out more at https://bythewayaccountants.co.uk.

28/08/2026

Significant reforms to small business finance have been announced by the government.

The centrepiece of the plans is an expansion of the British Business Bank's (BBB) Growth Guarantee Scheme (GGS) which provides a 70% government guarantee on commercial loans to SMEs of up to £2 million.

The scheme will scale up to facilitate an additional £2 billion of SME lending per year by 2028/29. This will bring the total SME lending supported through the scheme to £3.35 billion per year, more than double the current £1.35 billion.

The maximum term length of a loan is also increasing from six to ten years for loans of up to £1.1 million.

In addition, the maximum size of businesses that are eligible for a loan under the scheme is rising from £45 million in annual turnover to £54 million.

The BBB estimates these changes will support an additional 12,000 businesses per year by 2028/29, a 150% increase on the 8,000 currently being supported, bringing the total to 20,000.

26/08/2026

HMRC is reminding people with side hustles that they will need to tell it if they earn more than £1,000.

The Help for Hustles campaign aims to assist individuals with side hustles to 'get their tax right, quickly and easily'.

New entrants to self assessment should register for the 2025/26 tax year by 5 October 2026.They must file their online tax return and pay any tax due by 31 January 2027. HMRC has an online tool to help people with side hustles to check if and when they need to report their additional income.

Kevin Hubbard, Director of Small Business and Individuals at HMRC, said: 'For many people, a side hustle is a valuable source of extra income. If you're earning more than £1,000 a year from your side hustle it's important to understand your tax responsibilities, and HMRC wants to make that as straightforward as possible.

'You can check if you need to do a Self Assessment tax return by using the tool on https://GOV.UK.'

24/08/2026

Starting a new business can feel overwhelming, but you don’t have to do it alone. At Bytheway Accountants, we support new business owners from day one, helping with everything from registering your company and setting up business bank accounts, to advising on structure, tax, and compliance.

Our experienced team has helped countless start-ups turn good ideas into successful ventures, and we’re ready to help you do the same.

For a free consultation, call 01902 675243 or visit bythewayaccountants.co.uk.

21/08/2026

The government recently announced that VAT will be cut from household electricity bills from 1 October in time to impact the next Ofgem price cap.

The move is part of new Prime Minister Andy Burnham's commitment to help ease the cost of living.

The cost of this immediate action for this financial year is being funded from the cancellation of the £1.8 billion Digital ID programme.

Any further action on energy bills will be taken at the Budget, alongside the publication of a forecast from the Office for Budget Responsibility (OBR). All decisions at that point will continue to be funded and also consistent with the government's fiscal rules.

The Prime Minister said: 'Westminster has not been working for people for too long, with families struggling with the cost of living.

'We're taking immediate action to cut taxes on energy bills, put more money in people's pockets and bring back hope.'

19/08/2026

HMRC has urged customers not to ignore Simple Assessment letters for the 2025/26 tax year.

HMRC issues around 1.8 million Simple Assessment letters and stated that people should check the figures in their letter against their own records.

The letters will be sent to those who have tax to pay on income that has not been taxed through Pay As You Earn (PAYE) or Self Assessment.

Individuals may receive a Simple Assessment letter if they owe tax that cannot be collected automatically by HMRC, for example, if:

- there is tax to pay on interest on savings or dividends
- a second income has not been taxed
- tax is due on pension income
- they received more tax-free allowance than they were entitled to
- the tax cannot be collected through a tax code (for example, larger amounts owed, typically £3,000 or more).

Any tax owed should be paid by 31 January 2027, unless a different date is shown.

14/08/2026

Business debt can place significant pressure on both a company and the people responsible for running it, but support is available. This article from the British Business Bank outlines several sources of free guidance, including independent debt charities, banks, HMRC, local authorities and professional organisations, helping business owners understand where to turn and why seeking impartial advice early can make a real difference.

Need business debt advice? Try these information resources for guidance: independent advisors, your bank, HMRC, local help and free forums.

12/08/2026

UK manufacturers ramped up production last month for the fourth consecutive month and at the fastest pace in almost two years, according to a leading survey of the industry.

The S&P Global poll of manufacturers found them in upbeat mood in July, though anxious about the prospect of a long war in the Middle East that would block supplies of oil and gas, and raise the cost of production.

Read more online at -

Factories in upbeat mood despite fears over economic impact of US war on Iran, poll finds