Accounting for business owners who want financial clarity and control, not just compliance

Being married has many benefits. Tax allowances probably weren’t on your mind on your wedding day, but reviewing your savings together could help you make better use of them. For married couples and civil partners, ISAs can be a useful place to start. Making use of both ISA allowances For the 2026/27 tax year, each eligible adult can pay up to £20,000 into ISAs, where qualifying income and investment gains are sheltered from UK tax. A couple could therefore contribute up to £40,000 between them, provided each has their full allowance available. These allowances belong to you individually, so each ISA must be held in one person’s name. You cannot transfer your unused allowance to your partner, but you can give them money to pay into their own ISA, provided you’re happy for that money to become theirs. Transferring investments between spouses If you hold investments outside an ISA, transferring some to your spouse or civil partner may help you make use of both partners’ tax allowances. You can usually transfer investments to your spouse or civil partner without paying Capital Gains Tax (CGT) at that point, provided you are living together for tax purposes. This is known as a ‘no gain, no loss’ transfer. However, any increase in value is carried over with the investment. If your partner later sells it, their gain is generally calculated using what you originally paid for it. HMRC explains this treatment in its guidance on Capital Gains Tax for spouses and civil partners . Moving investments into an ISA ‘Bed and ISA’ involves selling investments held outside an ISA and using the proceeds to buy investments within your own stocks and shares ISA. A similar arrangement can involve your spouse buying equivalent investments within their ISA, using money you have given them. You may still have CGT to pay when you sell the original investments. Paying the proceeds into an ISA does not remove that tax bill, but future qualifying income and gains within the ISA are sheltered from UK tax. For 2026/27, individuals generally have a £3,000 tax-free allowance for capital gains, officially called the ‘annual exempt amount’. If you have not used any of it, you may be able to make gains of up to £3,000 without paying CGT. This allowance covers your total taxable gains for the tax year, so gains from other sales also count. It’s easy to confuse the gain you make with the amount you pay into your ISA. They count towards different allowances. For example, if you sell investments for £15,000 that originally cost £12,000, the gain is £3,000. Paying all the proceeds into an ISA uses £15,000 of ISA allowance. HMRC confirms the treatment of these transactions in its guidance on managing ISA subscriptions . Speak to us before arranging a sale if you are unsure how much of your CGT exemption or ISA allowance remains available. Could you claim Marriage Allowance? If one of you earns less than the other, it’s worth checking whether you qualify for Marriage Allowance. This separate relief could reduce your household’s Income Tax bill. It allows an eligible lower-earning spouse or civil partner to transfer £1,260 of their Personal Allowance to their partner. This can reduce the recipient’s annual tax bill by up to £252. The lower earner will usually have income below the standard Personal Allowance of £12,570. Their partner must normally pay Income Tax at the basic rate, which usually means income between £12,571 and £50,270. Different income bands apply in Scotland, where the recipient must pay the starter, basic or intermediate rate. The transfer is a fixed amount, rather than the whole of any unused Personal Allowance. It can cause the lower earner to pay some tax, so the couple’s overall saving may be less than £252. Speak to us You may already be making good use of your allowances, or there may be an opportunity you’ve overlooked. At MSF Associates, we can review your circumstances and explain what any proposed changes would mean for your tax bill. To discuss your options, call us on 0113 240 4100 or book a call with our team . This article provides general information based on the rules and allowances for 2026/27. It does not constitute personalised tax or investment advice. Tax rules can change. Please speak to us if you would like to understand how the rules apply to you before taking action.

The Autumn Budget brings changes to employment costs, business rates and the tax paid on savings and rental income. For business owners, the next step is to understand which measures affect your finances and when to prepare for them. Here, we explain the announcements most relevant to your business, along with practical steps to help you update your budgets and prepare for changes to your tax bills. Prepare for higher wage costs from April 2027 The legal minimum wage will increase by 3.9% from April 2027. If you employ staff on minimum wage, you will need to account for this in next year’s payroll budget. Importantly, you may also need to review pay for employees earning just above the minimum, particularly where differences in pay reflect additional responsibilities or experience. When updating your forecast, include any associated increases in employer National Insurance and pension contributions. This will give you a more accurate picture of the cost before you make decisions about recruitment or pricing. Check whether your premises qualify for business rates relief From April 2027, the threshold for full Small Business Rate Relief will increase from £12,000 to £18,000 for qualifying retail, hospitality and leisure properties in England. This could reduce costs for eligible independent shops, cafés, restaurants and other businesses operating from smaller premises. However, a rateable value below £18,000 does not automatically mean a property will qualify. The type of business and the relief conditions also matter. Check your eligibility before including a saving in your cash flow forecast. For businesses with several premises, it is particularly important to understand how the rules apply to your circumstances so get in touch if you're unsure. Review VAT arrangements for marketplace sales From October 2027, online marketplaces will become responsible for collecting VAT on qualifying sales made by UK businesses through their platforms. The rules will cover UK VAT-registered businesses and other UK businesses meeting an annual sales threshold of £90,000 per platform. Exclusions include personal sales, second-hand goods and business-to-business transactions. For businesses selling through platforms such as Amazon or eBay, this could affect how VAT is collected and how payments from those platforms are recorded. So, review how your marketplace reports feed into your bookkeeping. If you sell across several platforms or operate both online and from physical premises, we can help you understand how the arrangements will fit together. Update your mileage policies and transport forecasts The existing 5p fuel duty cut and freeze will continue until 1 July 2027. This avoids a planned duty increase, although wider changes in fuel prices will still affect what you pay at the pump. The 55p tax-free mileage rate for the first 10,000 qualifying business miles in a car or van is also being made permanent. From 6 April 2027, the rate above 10,000 miles will increase from 25p to 35p. If employees use their own vehicles for business journeys, review your reimbursement policy ahead of the change. Check eligibility for targeted electricity support The British Industrial Competitiveness Scheme will start in April 2027, providing eligible manufacturers with electricity discounts of around 20–25%, including support for costs incurred in 2026/27. Around 10,000 energy-intensive manufacturing businesses are expected to benefit. For qualifying firms, this could reduce a substantial overhead. However, the scheme is targeted, so having high electricity bills alone does not establish eligibility. Check whether your activities fall within the scheme before adjusting your budget. We can help you assess what any confirmed support would mean for your cash flow. Ask suppliers about import tariff reductions The government has announced tariff suspensions covering more than 100 food products, alongside cuts affecting kerosene and fertilisers. These measures may be relevant to hospitality businesses, food retailers and family farms. The saving will depend on the goods you purchase and the tariffs that currently apply. If you buy through a supplier, any benefit will also depend on whether the reduction is passed on. Ask how affected products will be priced and use confirmed figures when reviewing your margins. Review personal tax forecasts for savings and rental income From April 2027, income tax rates on savings and property income will rise by a further two percentage points. This is in addition to the two-percentage-point increase announced in the 2025 Budget. Business owners with personal savings or rental income should review the effect on their overall tax position. This also matters where you own commercial premises personally and rent them to your company. Speak to us if you would like a clearer view of how these income sources fit together. Cash ISA allowance remains at £20,000 The planned reduction in the cash ISA allowance to £12,000 for under-65s has been scrapped. The annual cash ISA limit will remain at £20,000. If you are building personal savings, this preserves an option for receiving savings interest tax-free. With tax on savings income set to increase, it is worth reviewing how your personal savings are held and whether you are using the allowances available to you. Parental pay extended to more self-employed parents The Budget announced that parental pay will be extended to self-employed fathers and partners. For people running their own business, financial support around the arrival of a child could make taking time away from work more manageable. The final eligibility rules and implementation timetable should be checked before including any payment in your plans. Alongside this, consider how the business would operate during your absence and what income you would need to cover your commitments. Turn the announcements into a practical plan The impact of the Budget will depend on your staffing, premises and sources of income. A business benefiting from rates relief may also face higher payroll costs, so it helps to assess the overall effect. Start by updating your cash flow forecast for April 2027 onwards. Include confirmed cost increases and check your eligibility for support before relying on savings. For company directors and family business owners, review your personal finances at the same time. This will give you a clearer view of what the business needs to retain and what is available for you and your family. Talk to us If you're unsure how this Budget will affect you, we can review the announcements relevant to you and update your forecasts, helping you prepare for costs and tax payments with greater confidence. Call us on 0113 240 4100 or book a strategy call to discuss what the Autumn Budget means for you.