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Monday 7:30am - 5:30pm Tuesday 7:30am - 5:30pm Wednesday 7:30am - 5:30pm Thursday 7:30am - 5:30pm Friday 7:30am - 5:30pm

Harris & Co

Harris & Co Chartered accountants and Business Advisors We are a firm of chartered accountants who specialise in advising owner managed businesses.

Having spent the last 20 years growing our business from a zero base, we have first hand experience of the issues involved in setting up and running a successful business. We can offer practical solutions to your business issues. Oh and we're great at doing your accounts and saving you tax too!

02/09/2026

Like many of our politicians, our Prime Minister views the EU through rose-tinted spectacles and ignores the actual numbers. Today he blamed the UK's slow GDP growth rate for the past 10 years on "Brexit".

Three problems with that.

The first is that from 2016 to 2021 we were technically still part of the EU and didn't actually leave until 2021.

The second is that the numbers don't really back up his statement. From 2016-2024 (his "decade") the UK GDP grew at 1.46% pa whereas the two largest economies in the EU, Germany and France, GDP grew at 0.81% and 1.25% pa respectively. From 2021 to 2024 (when we were truly out of the EU) the UK GDP grew at 1% pa and again outperformed Germany at 0.04% annual GDP growth and France at 0.96% annual GDP growth. Anyway you look at it the UK is economically outperforming the major EU economies.

The third is that eye wateringly high Government requiring excrutiatingly high levels of taxation that destroy all incentives and an employer hostile environment (with added tax burdens, new emploment rights etc) are conventiently ignored. Given that 83% of SME's do not trade with the EU, these are far more likely to be holding growth back!

28/08/2026

Prime Minister refuses to rule out tax rises in upcoming Budget
Prime Minister Andy Burnham has refused to rule out tax rises in the upcoming Autumn Budget.

Mr Burnham recently stated that he ‘won’t be unrealistic’ in regard to the nation’s finances, adding that the public ‘needs to understand we are in a challenging position’.

The government will take a ‘careful approach’ to the economy, the Prime Minister confirmed. Economists have previously warned that the Chancellor will have little room to manoeuvre in the Budget on 28 October.

The Prime Minister has already taken action to help ease the cost of living by capping bus fares and cutting VAT on household electricity bills.

Mr Burnham said: ‘I will always take a careful approach to things. I ran Greater Manchester for ten years and we ran a very tight ship with rock solid finances.

‘Nothing will change as I come into this role as prime minister. I won't take risks with people's jobs or their livelihoods or their family finances.

‘I will try to help them in whatever way I can, I have already done some things that will help them.’

26/08/2026

Business leaders warn against rising tax burden on entrepreneurs

A group of prominent business figures has called on the Government to reverse what they describe as a gradual increase in taxes affecting entrepreneurs, arguing that higher charges on dividends, capital gains and business assets are discouraging investment and limiting job creation. In an open letter, signatories including billionaire entrepreneur and political donor John Caudwell and former Marks & Spencer chairman Lord Rose criticise Labour's increases to dividend and capital gains taxation. They argue that the ongoing erosion of entrepreneurial tax reliefs, combined with a steady rise in tax rates, is making it increasingly difficult to start, grow and scale businesses in the UK.

Separately, the Institute of Economic Affairs has highlighted a significant rise in investment-related taxes since the 2008 financial crisis, estimating an increase of 10 percentage points. The think tank also points to growing tax complexity and higher personal tax burdens as factors that may be undermining incentives for entrepreneurship, investment and economic growth.

21/08/2026

Data shows UK economy grew between April and June
The UK economy grew by 0.4% between April and June, official data has revealed.

The Office for National Statistics (ONS) found that the summer sunshine and sports fixtures helped the economy grow.

The ONS stated that growth has ‘remained fairly robust’. The services sector and manufacturing propelled growth in the second quarter.

According to the ONS, the economy is currently 1.2% bigger than a year ago.

Responding to the data, Stuart Morrison, Research Manager at the British Chambers of Commerce (BCC), said: ‘Faced with global headwinds from the Iran conflict, the UK economy showed welcome resilience in Q2, growing by 0.4%, according to [the] first estimate.

‘The service sector performed particularly robustly, alongside a welcome return to growth in construction.

‘But the headline figures shouldn’t disguise the cocktail of cost pressures choking long-term business growth.’

20/08/2026

The latest Wickes Mood of the Nation survey found that 79% of sole traders are ‘unprepared’ for MTD, with only 21% of trade professionals stating they were ‘fully prepared’. While they may have heard of MTD, they are not signed up in sufficient numbers yet, despite the 8 August deadline long past for the first wave of £50,000 plus income.

14/08/2026

Recruitment of permanent staff stops falling for first time in four years

Analysis carried out by the Recruitment and Employment Confederation (REC) has revealed that recruitment of permanent staff stopped falling in July for the first time in almost four years.

The Confederation’s latest survey showed that the index of permanent staff placements reached 50 - this figure separates growth from contraction. Since 2022, it had been below this level.

According to the survey, vacancies rose to 47.1, which represents the highest reading since September 2024. Part-time role vacancies also increased at their fastest pace since August 2023.

12/08/2026

HMRC tax plan prompts cash flow concerns
HMRC plans to introduce monthly tax payments for self-employed workers from April 2029 could force millions of taxpayers to pay the equivalent of two years’ tax within 14 months, experts have warned. Under the proposed system, self-employed people, landlords and those with investment or side-hustle income would move from the current system of two annual payments to a PAYE-style monthly collection method. However, during the transition period, taxpayers who already make advance payments could face overlapping bills. Around 3.6m people could be affected, as about 30% of the 12m Self-Assessment taxpayers currently make payments on account. The Association of Taxation Technicians warns that forcing the self-employed to pay two years of tax in 14 months could lead to significant cash flow issues.

07/08/2026

800,000 self-employed individuals could have gaps in their NI record

HMRC will write to nearly 800,000 taxpayers who could have gaps in their National Insurance (NI) record.

The issue affects taxpayers who became self-employed between 2015 and March 2024.

According to HMRC, taxpayers who receive a letter or those who utilise its online pension forecast tool and identify gaps in their NI record ‘will be able to make contributions further than the usual six previous tax years and at the original rate’.

Gaps in NI records may also have arisen where Class 2 National Insurance contributions (NICs) were paid after the 31 January deadline or where payments were used first to clear outstanding tax liabilities rather than NICs.

The letters will be sent to 160,000 taxpayers aged above State Pension age or within two years of State Pension age. These will be sent by summer 2027.

HMRC is urging taxpayers to check their Self Assessment tax returns for previous years to confirm if Class 2 NICs have been made.

05/08/2026

HMRC plans could see higher fines for errors
Tax experts have criticised HMRC proposals that could impose much higher penalties on taxpayers who fail to correct mistakes after being notified. Under the plans, an error that is currently treated as careless could be reclassified as deliberate if not fixed within a set timeframe, increasing maximum fines from 30% to 100% of the tax owed. The changes, experts say, could particularly affect freelancers, self-employed workers and landlords. HMRC could also gain powers to investigate up to 20 years of financial records for such cases, compared with the current six-year limit for non-deliberate errors.

31/07/2026

Don’t ignore Simple Assessment letters, says HMRC
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.

Address

2 Pavilion Court
Northampton
NN47SL

Opening Hours

Monday	7:30am - 5:30pm
Tuesday	7:30am - 5:30pm
Wednesday	7:30am - 5:30pm
Thursday	7:30am - 5:30pm
Friday	7:30am - 5:30pm

Website

http://www.harrisandco.biz/

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