Thorntons Accountants

03/09/2026

More than 600 employers have been named and shamed by the Government for failing to pay their staff the national minimum wage, with penalties totalling £7 million issued.

More than 600 companies underpaid staff, with £4m returned to workers, according to the government.

01/09/2026

Yesterday The Guardianuardian published an article looking at how a court case could result in the end of a tax avoidance scheme called 'box shifting'.

The practice involved temporarily placing boxes in empty commercial properties to establish a period of ‘occupation’, before removing them again and claiming a further period of empty property rates relief.

The Court of Appeal has ruled that this is not genuine occupation, which could have implications for commercial property owners. More information here:

Exclusive: How a court case over an unoccupied office block could end a widely used tax avoidance scheme

28/08/2026

Could your side-hustle land you in hot water?

HMRC has issued a reminder, that anyone who earns more than a £1000 through secondary incomes and 'side-hustles' need to complete a return.

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 ...

27/08/2026

More than one million young people in the UK are now not in employment, education or training (NEET).

With support and funding available to encourage businesses to play their part in solving the problem, research from the Resolution Foundation has suggested targeted employment subsidies could prove to be more cost-effective than broad employer tax breaks:

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 m...

26/08/2026

This morning OFGEM has confirmed that the domestic energy price cap will increase in October by 4%. The increase is likely to add £60 to the average annual household bill.

A household using a typical amount of gas and electricity will pay £60 a year more, regulator Ofgem says.

21/08/2026

Figures released this morning by the Office for National Statistics have revealed that the government borrowing in July increased to £1.8 billion. The figures also revealed that total national debt is close to £3 trillion:

Chancellor John Healey said the government is 'committed to meeting our fiscal rules'

19/08/2026

Data released by the Office for National Statistics this morning has revealed that inflation has risen to 2.9%. The increase has been attributed to the continued uncertainty in the Middle East contributing to the rising costs of energy and fuel:

The cost of things is now rising at a faster pace compared with last month.

13/08/2026

On behalf of all of us at Thorntons Accountants, we’d like to pass on our best wishes to everyone receiving their today. Whether you are celebrating or commiserating, today marks the first step of your next journey. Whatever path you choose, we wish you every success for the future.

12/08/2026

The Government has announced reforms to small business finance. Amongst the measures introduced includes an expansion of the Growth Guarantee Scheme, designed to help SME businesses overcome barriers to finance. New measures include:

- The option to increase maximum term loans from six years to ten years for loans of up to £1.1 million.
- Provision of an additional £2bn of lending

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 ...

06/08/2026

Future public sector procurement contracts are likely to place greater emphasis on local community impact, such as the creation of new jobs and apprenticeships, according to a announcement yesterday:

Successful bids for government contracts will have to include more UK jobs, local skills and opportunities for young people.