Happy New Year! No doubt you’ll be eager to dot the i’s and cross the t’s on your finances in 2026. But while it pays to be savvy all year round, there are a number of time-sensitive opportunities where quick decision-making now can stand you in better stead for growth later in the year.
From capitalising on Autumn Budget announcements to getting ahead of HMRC changes, here’s a handful of smart moves to consider before it’s too late.
Plan capital investments
From January 2026, there’s a 40% first-year allowance for qualifying plant and machinery expenditure for both companies and unincorporated businesses. If your business needs to invest in equipment this year, then exploring your eligibility for this allowance could be pivotal – providing invaluable savings to reinvest into other areas of your business.
React to changes in accounting standards
Amendments to the FRS 102 accounting standard, announced in 2024, come into effect for accounting periods beginning on or after 1st January 2026. This is the primary accounting standard for most UK businesses that aren’t large public companies or micro-entities. Small businesses must adapt to the new presentation of their accounts, which could affect the timing of profits and whether your business can still qualify for small company provisions.
Adopt digital accounting tools early
From April 2026, Making Tax Digital for Income Tax will come into effect for those earning over £50,000 from self-employment or property income. This presents a shift from an annual return to quarterly updates – all the while keeping digital records of income and expenses. Smaller firms without in-house accounting resources will do well to prepare for this change now, as there could be cost implications for any additional accounting software, training or hiring needed to handle the change.
Take advantage of free apprentice training
Rising recruitment costs and the subsequent financial burden can make taking on a full-time permanent employee a challenging prospect. If you need to hire in 2026, consider taking on an under-25 apprentice instead. Announced in the 2025 Autumn Budget, the government will make training and assessment completely free for SMEs who hire young apprentices. SMEs already have tight budgets and are feeling the impact of rising wages – this opportunity could ease the pressure while helping you get the talent you need to grow.
Never miss a beat with Nabarro Poole
Staying on top of crucial changes while taking advantage of financial opportunities isn’t easy when you’re trying to lead your business from the front. As an owner-managed accountancy firm, we understand these challenges well – and we can help you identify and plan for it all.
Nabarro Poole does more than simply take away the heavy lifting, working with you to ensure your business is in the best shape for growth. Get in touch to find out more.
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