NWOD Accountants

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NWOD Accountants Approachable, affordable & experienced accountants based in Preston. Specialising in small businesses, sole traders & limited companies.

Free initial consultation. PTMC/Biz Space,
Marsh Lane.

24/10/2026

UK State Pension: What’s Changing and Why It Matters 💷

The UK State Pension remains one of the largest items in the welfare budget, paid every four weeks to more than 13 million people.

From 6 April 2026:
• Full new State Pension → £241.30 a week (£12,547.60 a year)
• Old basic State Pension → £184.90 a week (£9,614.80 a year)
Many people on the lower rate can still receive top-ups depending on their National Insurance record.

🔒 The triple lock currently guarantees that the pension rises each April by the highest of three measures:

• September inflation
• Average wage growth (May–July of the previous year)
• A floor of 2.5%

Plans are now being discussed to move, in a few years, to a simpler system that would only guarantee the higher of inflation or 2.5% — and drop the automatic annual link to average earnings.

This is expected to produce more modest year-to-year increases, although the pension should still keep pace with earnings growth over the longer term.

⏳ State Pension age is already rising:
• Born 6 Oct 1954 – 5 April 1960 → age 66
• Born on/after 5 April 1960 → rising to 67
• Born on/after 5 April 1977 → rising to 68 (between 2044–2046)

These adjustments raise familiar questions: how generous is the UK system compared with other countries, and are current and future pensioners being adequately protected?

For anyone planning retirement, tracking these policy shifts is becoming just as important as monitoring private pensions and savings.

23/10/2026

🏠 UK Government sets income caps for new first-time buyer scheme
Households will need to earn under £110,000 (or £140,000 in London) to qualify for the new Your First Home equity loan scheme, according to BBC reporting. 💷

Key details:
• Government-backed equity loans covering 20% of the purchase price on new-build homes in England from participating developers
• Designed to enable deposits as low as 2.5%
• Initial interest-free period
• Expected to be confirmed in next week’s Budget 📊

The scheme was first outlined by Prime Minister Andy Burnham at the Labour conference and is intended to focus support on those who “really need” it, after earlier proposals for lower thresholds (£90k / £110k) were raised to include more middle-earning households such as teachers and nurses.
Unlike previous Help to Buy-style schemes, this one introduces income limits. Ministers also hope it will support housebuilding after conceding they are on course to miss the 1.5 million homes target.

Developers taking part will be asked to contribute to running costs. The Conservatives have criticised the plans as an admission of failure on housebuilding and warned the developer levy could push up new-home prices.

23/10/2026

🚨 Government pauses small company P&L filing… again

Small companies and micro-entities will not have to file profit & loss accounts with Companies House from April 2028.

The latest U-turn comes just months after the requirement was confirmed (with an opt-out option). It’s now “under review” as part of the government’s push to cut business red tape by 25% and streamline HMRC/Companies House processes.

Other April 2028 reforms (like mandatory commercial software filing) are still going ahead. The government claims the wider package could save businesses over £600m a year in admin costs.

Yet another twist in a five-year on-off saga… will they ever just bin it for good?

23/10/2026

Typical UK homes are currently selling for around a 10% discount to their initial asking price. 🏠📉

According to Knight Frank data cited in the This is Money article (updated 23 October 2026), properties that exchanged contracts between July and September 2026 sold for an average of 90.6% of their original asking price.
What that means in practice

• A home listed at £300,000 is typically selling for about £271,800.
• A home listed at £500,000 is typically selling for about £453,000.
This is a clear shift from the strong market of 2021–2022, when sellers were often achieving close to (or at) full asking price.

Why the discounts are happening
Higher mortgage rates and a large supply of homes on the market are putting sellers under pressure. Estate agents and sellers are frequently listing properties above the price they ultimately accept.
Buying agents report securing discounts of up to 26% in some cases. The biggest bargains are often found on:
• Small flats
• New-build homes
• Former buy-to-let properties
Sellers who overpriced initially or whose homes have been on the market for a while are particularly motivated to negotiate.

Bottom line
It’s currently a buyer’s market for many types of property. Patience and strong negotiation (or using a buying agent) can produce meaningful savings relative to the advertised price. 💰

22/10/2026

🩷🩷

22/10/2026

🌟 A little reminder for business owners…

You don’t have to be the biggest business to make a big difference. 🙌

Every happy customer, every recommendation, every invoice paid and every new opportunity is another step forward.

Running a business can be challenging, and it’s easy to focus on what you haven’t achieved yet rather than how far you’ve come.

So take a moment today to recognise the progress you’re making, celebrate the little wins and keep doing what you do best. 👏

And if you’re a local business owner, give yourself a shout-out in the comments! 👇

What’s one thing your business has achieved recently that you’re proud of? It could be landing a new customer, receiving a great review or simply making it through a busy week! 😊

Let’s celebrate the brilliant businesses we have in our local community. 🤝

07786 413622

21/10/2026

UK inflation hits 3.5% as fuel prices surge ahead of Budget
CPI rose to 3.5% in September (from 3.1%), the highest since Oct 2025, driven by petrol (169.5p/litre) and diesel (192.5p). Motor fuels up 29.8% year-on-year amid global supply pressures.
Comes days before Chancellor John Healey’s first Budget. Borrowing also jumped. Rate-hike odds rise.
Businesses: watch logistics and input
costs.

07786 413622

20/10/2026

💷 Capital Gains Tax: Could the Budget bring changes?

With next week’s Budget approaching, there’s been plenty of speculation about potential tax changes. However, Chancellor John Healey has reportedly dismissed calls to increase Capital Gains Tax, amid concerns that higher rates could discourage investment and encourage wealthy individuals to leave the UK.

Capital Gains Tax can affect individuals selling assets such as shares, second properties and business interests.

For anyone considering selling an asset, making changes to their investments or planning a business sale, it’s worth understanding the potential tax implications before making any decisions.

As always, good tax planning starts with understanding the rules and keeping up to date with developments.

📩 If you have questions about Capital Gains Tax or your tax position, get in touch with NWOD Accountants.

20/10/2026

📉 UK jobless rate falls to 4.7% – lowest in over a year!
But small firms are cutting back on hiring 💼
Vacancies dropped to 691,000 (lowest in 5+ years), mainly due to rising labour costs, energy prices & higher National Insurance/minimum wage.
Labour market remains “broadly flat” ahead of the Budget.

Address

PTMC, Marsh Lane
Preston
PR18UQ

Opening Hours

Monday 8:30am - 5:30pm
Tuesday 8:30am - 5:30pm
Wednesday 8:30am - 5:30pm
Thursday 8:30am - 5:30pm
Friday 8:30am - 5:30pm
Saturday 10am - 4pm
Sunday 10am - 4pm

Telephone

+441772978536

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