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K2 Accountancy Group

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K2 Accountancy Group

The Gold Standard in Accountancy. Let's grow your business together.

28/08/2026

UK business confidence has reached its highest level since March.

The latest Lloyds Business Barometer shows that confidence rose four points to 53% in August, above the 12-month average of 47%.

Here in the East Midlands, confidence also increased, rising two points to 51%.

Stronger customer demand, improving financial conditions and greater optimism about the wider economy all contributed to the positive outlook.

It is an encouraging sign for businesses considering their next stage of growth. However, confidence needs to be supported by careful planning, realistic forecasts and a clear understanding of cash flow.

At K2 Accountancy Group, we help businesses understand the numbers behind their ambitions and plan confidently for what comes next.

27/08/2026

𝐎𝐅𝐅𝐈𝐂𝐄 𝐂𝐋𝐎𝐒𝐔𝐑𝐄 – 𝐒𝐓𝐀𝐅𝐅 𝐓𝐑𝐀𝐈𝐍𝐈𝐍𝐆

Please note that our offices are closed today for staff training.

For anything urgent, please call or message 07808 800956.

All other enquiries will be responded to tomorrow.

Thank you for your understanding.

26/08/2026

Lego has reported a 32% increase in net profit for the first half of the year, alongside revenue growth of 21%.

But rather than simply banking the gains, the business is investing further in new products, digital technology, sustainability and production capacity.

There’s a useful lesson here for growing businesses.

Strong performance can create an opportunity to invest for the next stage of growth. But knowing when to reinvest, how much the business can comfortably afford and what that investment means for future cash flow is key.

Growth is exciting. Making sure it’s sustainable takes planning.

At K2, we help businesses look beyond today’s numbers and plan confidently for what comes next.

21/08/2026

Last week, we confirmed that the Autumn Budget will take place on 28 October. One area business owners may wish to review ahead of it is exit planning.

No changes to Capital Gains Tax have been confirmed. However, if you are considering selling your business, transferring it to family, completing a management buyout or taking a partial exit, early planning gives you more options.

This does not mean rushing into a transaction because of speculation. It means understanding what your business is worth, the amount you may receive after tax and whether your preferred exit route supports your longer-term plans.

Business sales and restructures take time. If an exit is on your horizon, now is a sensible time to begin the conversation with your advisers.

19/08/2026

More than 436,000 sole traders and landlords have now submitted their first Making Tax Digital quarterly update.

Making Tax Digital for Income Tax has been mandatory since April 2026 for those with qualifying income over £50,000.

If you fall within the rules but have not yet signed up, HMRC will begin automatically enrolling customers from September. Signing up yourself means you can check your details, choose compatible software and prepare before HMRC contacts you.

There are no penalty points for late quarterly updates during the 2026/27 tax year, but updates must still be submitted.

From April 2027, the rules will extend to those with qualifying income over £30,000.

Need help understanding what Making Tax Digital means for you? Speak to the K2 Accountancy Group.

Source: HM Revenue & Customs

14/08/2026

The Autumn Budget will take place on Wednesday 28 October 2026.

While we will not know the details until Budget day, businesses do not need to wait to begin preparing.

Now is a sensible time to review your current position and consider any significant plans for the next 12 to 18 months. This could include investment decisions, business sales, succession planning, restructuring or how profits are extracted.

The aim is not to predict every announcement or act on speculation. It is to understand your options now, so you are better prepared for any changes that may be introduced.

If you are considering a significant business or financial decision, speak to your advisers well ahead of 28 October.

Source: HM Treasury.

12/08/2026

Eyes to the skies today...

A partial solar eclipse is taking place, with the Moon passing in front of the Sun and giving parts of the UK a pretty unusual view.

If you're planning to take a look, preparation is key.

Regular sunglasses won't protect your eyes. Use certified eclipse glasses or a proper solar viewer, and don't look through a camera, binoculars or telescope without the correct solar filter.

And yes, even if it's cloudy, the eclipse is still happening behind those very British skies.

Turns out eclipses and tax have something in common: it's much better to prepare in advance than realise afterwards that you should have.

For the eclipse, protect your eyes. For your finances, plan ahead.

Enjoy the view!

07/08/2026

UK GDP figures regularly make the headlines, but how much weight should we place on the first number?

The Office for National Statistics (ONS) has highlighted the balance between producing timely economic data and the revisions that inevitably follow as more information becomes available.

This is particularly relevant when looking at monthly GDP. Analysis by the Financial Times found that since the start of 2022, monthly UK GDP growth has averaged around 0.1%, while individual readings have typically been revised by more than 0.2 percentage points within two years.

It’s a useful reminder that one monthly figure doesn’t always tell the full story. Looking at longer term trends alongside subsequent revisions can provide a clearer picture of how the UK economy is performing.

Source: Financial Times / Office for National Statistics

05/08/2026

Prenuptial agreements are becoming increasingly common among younger couples and are no longer seen as something reserved for the rich and famous.

As people marry later, many enter relationships with property, savings, pensions, businesses or financial gifts from family. A prenup can help couples discuss how these assets would be treated if the relationship ended and provide greater financial clarity from the outset.

Prenups are not currently legally binding in England and Wales, but courts may give them significant weight if they are fair, properly prepared and both parties have been open about their finances.

Whether or not a couple chooses to have one, honest conversations about money before marriage can support better financial planning for the future.

31/07/2026

No change to the Bank of England base rate. It remains at 3.75%.

The Bank has chosen to keep interest rates on hold while it continues to monitor inflation, energy prices and the wider economy.

Although there is no immediate change, future decisions will depend on how economic conditions develop in the months ahead.

Interest rate changes can affect mortgages, business borrowing and savings, making them an important indicator for households and businesses alike.

Source: Bank of England.

Address

Ilkeston
DE7

Opening Hours

Monday	9am - 5pm
Tuesday	9am - 5pm
Wednesday	9am - 5pm
Thursday	9am - 5pm
Friday	9am - 5pm

Telephone

+441159303142

Website

http://www.k2accounting.co.uk/

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