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If your business operates in the manufacturing sector, you may recently have received a letter from the Department for Business, Innovation, Science and Trade regarding the British Industrial Competitiveness Scheme (BICS).

The new Government scheme could significantly reduce electricity costs for eligible businesses from April 2027, but receiving a letter doesn’t automatically mean that your business qualifies.

So, what is BICS, who could benefit, and what should you do if you’ve received a letter?

What is the British Industrial Competitiveness Scheme?

The British Industrial Competitiveness Scheme (BICS) is a Government scheme designed to reduce electricity costs for eligible manufacturing businesses within growth sectors identified in the UK’s Industrial Strategy.

From April 2027, eligible businesses will receive exemptions from three levies that currently form part of their electricity bills.

The Government expects the scheme to benefit more than 10,000 businesses, with electricity costs potentially reduced by up to £40 per megawatt hour, which, according to the letter, could represent a saving of up to 25% of their electricity bill.

Could there be an additional payment?

Yes. Eligible businesses are also expected to receive an additional payment during 2027, approximately equivalent to an extra year’s benefit under the scheme.

For businesses with substantial electricity costs, the combined support could therefore be significant.

I’ve received a BICS letter, does that mean I’m eligible?

Not necessarily, as the Government is contacting businesses it has identified as being potentially eligible for BICS.

However, the letter specifically states that this does not guarantee eligibility and that businesses will still need to make a full application to the scheme.

If you have received a letter, it’s certainly worth checking whether your business meets the requirements.

How can businesses check their eligibility?

The Government has published an online eligibility checker which businesses can use ahead of the application window.

It’s worth doing this sooner rather than later, particularly if you’ve received a letter, so that you can understand whether your business may qualify and prepare for the application process.

Check your eligibility for the British Industrial Competitiveness Scheme

When do BICS applications open?

Applications are expected to open at the beginning of October 2026 and will close at 23:59 on 30th November 2026.

With the potential savings available from April 2027, businesses that believe they may qualify should make sure these dates are on their radar.

What should you do next?

If you’ve received a BICS letter, check your potential eligibility, familiarise yourself with the scheme and make sure you’re prepared to apply once applications open.

For eligible manufacturing businesses, a reduction of up to 25% in electricity costs could make a meaningful difference – particularly for businesses where energy represents a significant overhead.

If you’ve received a letter about the British Industrial Competitiveness Scheme and would like to discuss what the potential savings could mean for your business, get in touch with the GLX team.

Running a business means keeping an eye on a number of factors including sales, costs, customers, staff, tax, and cash flow, to name a few.

But when it comes to understanding how your business is actually performing, you don’t necessarily need to monitor dozens of different figures.

Tracking the right financial key performance indicators (KPIs) for your business goals can give you a much clearer picture of its financial health, help you spot potential problems earlier and support better decision-making.

Every business will have a different view of what is important track, but as a starting point, here are 5 of the most common financial KPIs that every business owner should understand.

1. Gross profit margin

Your gross profit is what remains from your revenue after deducting the direct costs associated with delivering your product or service, and is typically expressed as a percentage.

For example, if your business generates £100,000 in revenue and the direct cost of delivering that work is £60,000, your gross profit is £40,000 and your gross profit margin is 40%.

Tracking your gross profit margin can help you understand whether your pricing and direct costs are working for you.

If revenue is increasing but your margin is shrinking, for example, it could indicate that your costs are rising, your pricing needs reviewing or the type of work you’re taking on is changing.

Looking at the trend over time can often tell you much more about business performance than looking at turnover alone.

2. Customer acquisition cost (CAC) and lifetime value (LTV)

How much does it cost you to win a new customer and how much is that customer worth to your business?

Your customer acquisition cost (CAC) is the average amount you spend acquiring a new customer which could include marketing spend, advertising, sales, events and other activities involved in generating new business.

Customer lifetime value (LTV) estimates the amount of revenue a customer will generate for you over the course of the business relationship.

These two numbers become particularly useful when looked at together, because if you’re spending £500 to acquire a customer who generates £600 of value, that’s a very different proposition from spending £500 to acquire one who goes on to generate £10,000.

Understanding the relationship between CAC and LTV can help you assess which marketing and business development activities are genuinely worthwhile, how much you can reasonably invest in winning new business and the value of retaining the customers you already have.

3. Cash flow

What is the difference between cash flow and profit? Profit tells you whether you’re making money. But cash flow tracks the money moving into and out of your business. Looking ahead through a cash flow forecast can help you identify when you might have more money going out than coming in.

Anticipating factors such as large bills, tax payments, and significant investments in advance gives you more time to plan and make decisions.

If you’re considering recruiting, purchasing equipment or investing in growth, understanding your future cash position can help you assess not only whether the business can afford it today, but what that decision could mean several months down the line.

4. Return on Investment (ROI)

When you spend money in your business, what do you get back? The ROI helps you assess whether an investment is generating enough value to justify its cost.

That investment could be a new piece of equipment, a marketing campaign, new software, additional staff or even moving into larger premises.

But looking at ROI encourages you to think beyond the price tag, because a cheaper option isn’t necessarily better value, and an expensive investment isn’t necessarily a bad decision if it can deliver a strong enough return.

ROI can also help you compare where your money could have the greatest impact. If you’re deciding between investing in additional marketing, new technology or extra capacity, understanding the potential return can help make that decision more informed.

Not every return is immediate or easily measured, but asking “what are we getting back from this?” is a useful habit for any business owner.

5. Break-even point

Your break-even point is how much your business needs to generate to cover its own costs.

Understanding your break-even point gives you a useful baseline for setting sales targets, assessing pricing, planning recruitment, making decisions about additional expenditure, and can be particularly useful when considering growth.

For example, if you’re thinking about taking on another member of staff, moving premises or investing in new technology, understanding how that additional cost changes your break-even point can help you assess what the business needs to generate to make that decision financially sustainable.

Which financial KPIs should your business track?

These five financial KPIs are a useful starting point, but they aren’t a universal dashboard that all businesses should abide by.

The financial KPIs that matter most to you will depend on your business, your sector and what you’re trying to achieve.

For example, a construction business might need to pay particularly close attention to project margins and work in progress, and a professional services firm might monitor utilisation, recovery rates or revenue per employee.

The important thing is identifying the numbers that genuinely tell you something about your business, and then using them to make decisions.

Turning your business numbers into useful information

Knowing your numbers should help you answer useful questions, such as: Are we making enough margin on the work we’re doing? Can we afford to recruit? Why is cash tighter this month? Which areas of the business are performing best? What happens if our costs increase? What do we need to achieve to hit our goals?

At GLX, our team will work with you to help you interpret your figures in a way that will help you turn it into information you can actually use. Get in touch with the GLX team to find out how we can help.

Are you happy with your current accounting platform? It might seem like a simple question, but many businesses continue to use the same accounting software for years without considering whether it is still the best fit.

Perhaps it was the system you chose when you first started the business. Maybe it worked perfectly well when you were a small business, but now your business has grown and your requirements have changed. Or perhaps you’ve simply become used to working around its limitations.

Your accounting software should make managing your finances easier, not harder.

At GLX, one of the first things we do when working with a new client is review their accounting system to make sure it is efficient, appropriate and capable of supporting the business both now and as it grows.

And if it isn’t? An accounting software migration might be worth considering.

Why might you need to change your accounting software?

Businesses evolve: you might employ more people, process more transactions, introduce new services, need better management information or start using other systems that you want your accounting software to integrate with.

A platform that was perfectly suitable several years ago may no longer give you the information or functionality you need.

However, we understand why businesses put off switching. The thought of moving years of financial information from one system to another can feel daunting. What happens to your historic records? Will everything transfer correctly? When should you make the change? And, perhaps most importantly, will it disrupt the day-to-day running of the business?

That’s where we can help.

How does accounting software migration work?

We can help you identify the accounting platform that suits your business the best and manage the migration process for you.

Depending on your requirements, we can transfer as much historic accounting data as you need and reconcile the new system against your existing records to make sure everything has moved across correctly.

We’ll also help plan the migration and discuss the best time to make the switch, helping to minimise disruption to your business.

What should you consider when choosing accounting software?

1. Ease of use

Good accounting software should make everyday financial tasks straightforward.

Is the system easy to navigate? Is information displayed clearly? If you complete your bookkeeping in-house, can your team process transactions and reconcile accounts without unnecessary complexity?

You should also consider how easily you can manage routine requirements such as VAT and CIS returns.

The best system should be the one your team can use effectively, not necessarily the one with the most features.

2. Security and reliability

How is your accounting data protected?

With traditional desktop-based software, businesses may need to think about hardware failure, backups, software updates and installing new versions.

Cloud accounting software can remove much of this burden, with data stored securely online and software updates generally managed by the provider.

However, you should still consider user permissions, access controls and the security practices you have in place within the business.

3. Cost

Are you getting value from your current accounting software?

You could be paying for functionality you rarely use or maintaining hardware simply because your accounting application requires it.

On the other hand, choosing software based purely on the lowest monthly subscription isn’t necessarily the answer either.

The overall value the platform provides should be considered, including the time it could save your team through automation and more efficient processes.

4. Connectivity and integrations

Modern cloud accounting software can often connect with other applications used within your business, which helps information flow between systems and reducing duplicate data entry.

Bank feeds are a good example, because instead of manually entering transactions from a bank statement, automated bank feeds can bring transaction information directly into your accounting platform.

Depending on your business, you may also benefit from integrations with payment systems, expense management tools, reporting platforms or other third-party software.

5. Capturing invoices and supporting documents

How much time do you spend manually entering information from invoices and receipts?

Many modern accounting systems can store supporting documents alongside the relevant transaction, making it much easier to find the information later.

Optical Character Recognition (OCR) technology can also extract information from documents and help populate fields automatically, reducing manual data entry.

6. Bank reconciliations

Bank reconciliations are an important part of keeping accurate accounting records, but they shouldn’t be unnecessarily time-consuming.

Consider how easily your current platform allows you to match transactions and identify outstanding items.

Some systems also allow notes or comments to be added directly against transactions, giving you and your accountant useful context without needing to maintain separate spreadsheets or handwritten notes.

7. Reporting and management information

Accounting software shouldn’t simply tell you what happened last year.

The right system can help you understand what is happening in your business now.

Can you customise reports to show the information and statistics that matter to you? Can you compare different accounting periods side by side? Can you quickly access the figures you need to make business decisions?

Better access to timely financial information can help turn your accounting records into a useful management tool rather than simply a compliance requirement.

8. Access to historic information

How easy is it to look backwards?

You should be able to access previous accounting periods and run reports for the dates you need without digging through archived files or restoring old backups.

Easy access to historic information can also make it much simpler to analyse trends and compare business performance over time.

9. Accessibility

Finally, ask yourself a very simple question: Where can you access your accounts?

If the answer is “the computer the software is installed on”, your current setup may be limiting you.

Cloud accounting software allows everyone to work from the same up-to-date system. This gives authorised users the ability to access financial information online, making it easier for business owners, internal finance teams, bookkeepers and accountants to work from the same live information.

That means your bookkeeper doesn’t necessarily need to be sitting in your office to maintain your records, and you don’t have to send a backup of your accounts to your accountant at year end.

Moving accounting software doesn’t have to be difficult

The prospect of changing accounting platforms can feel like a much bigger project than sticking to what you know, but continuing with an inefficient system has a cost too.

Manual processes take time, poor integrations create duplicate work, limited reporting makes it harder to understand performance, and software that isn’t suited to your business can become increasingly frustrating as you grow.

At GLX, we’ll evaluate your requirements, look at the way your business operates and help identify the platform that works best for you. We can then help with the accounting software migration and implementation, as well as providing tailored training to help your team use the new system confidently.

We’ll also look beyond the software itself, helping you review your financial processes and internal processes so that you’re getting the most from the technology available to you.

Our support doesn’t stop once you’re up and running, either. We can continue to help with areas such as reporting, management information, and fractional services as your requirements evolve.

Thinking about switching accounting software?

If you’re regularly working around your accounting software rather than letting it work for you, it may be time to review your options.

Speak to the GLX team about your current accounting setup and we’ll help you work out whether there’s a better way to do things.

Frequently asked questions

What is accounting software migration?

Accounting software migration is the process of moving financial data from one accounting platform to another. This can include current balances, transactions, customer and supplier information and, depending on your requirements, historic accounting data.

Will I lose my historic accounting information when changing software?

Not necessarily. The amount of historic information transferred will depend on the systems involved and your requirements. At GLX, we can discuss how much historic data you want to migrate and reconcile the new system against your existing records.

When is the best time to change accounting software?

There isn’t one answer that suits every business. Your financial year end, VAT periods, workload and existing processes may all influence the best time to switch. Planning the migration carefully can help minimise disruption.

What are the benefits of cloud accounting software?

Cloud accounting software can provide easier remote access, automated bank feeds, integrations with other applications, document capture and improved collaboration between a business, its bookkeeper and accountant. The right features will depend on the individual needs of your business.

Can GLX train our team on new accounting software?

Yes. GLX provides tailored accounting and payroll software training, which can be delivered onsite or remotely. We can help your team understand the software and make effective use of the features relevant to their roles.

Pubs, social clubs and live music venues in England are set to benefit from a further 20% cut to their business rates bills from April 2027, following a new announcement from Prime Minister Andy Burnham.

The measure is expected to benefit almost 32,000 venues across England, with the Government estimating that a typical pub could save around £1,100 a year.

What is changing for pub business rates?

From April 2027, qualifying pubs, social clubs and live music venues will receive a 20% reduction in their business rates bills.

This follows support already introduced for the 2026/27 financial year, under which eligible pubs and live music venues receive 15% business rates relief.

The new 20% reduction is due to take effect from 1 April 2027, with further details on how the scheme will operate expected to be confirmed by the Government.

Who will qualify for the 20% business rates cut?

The Government has said the new relief will apply to qualifying:

However, the largest live music venues will not qualify for the new reduction.
It is also important to note that this announcement does not apply to the entire hospitality sector; other hospitality businesses, such as restaurants, cafés and hotels, are not currently in line to receive the reduction.

What does this mean for pubs and venues?

For eligible businesses, the reduction could provide some welcome relief from rising operating costs.

Business rates can represent a significant overhead for premises-based businesses, so understanding the reliefs available and ensuring they are correctly reflected in your business rates bill is important.

If you run a pub, social club or live music venue, it is worth reviewing how the changes could affect your costs from April 2027 as further details of the scheme become available.

Need help understanding the impact on your business?

Changes to business rates are just one of many factors that can affect your business’s costs and cash flow. Businesses in the sector have been under significant strain and although the announcement will provide some relief, business owners may still be concerned around future profitability of their business. 

If you would like to understand how upcoming changes could affect your business, or need support with budgeting and financial planning, speak to the GLX team today.

You may have seen recently that HMRC has changed the rules around working from home tax relief. From April 2026, employees can no longer claim tax relief for working from home simply because they are required to do so and are not reimbursed by their employer.

However, this change does not affect business owners or sole traders in the same way.

If you run your own business and work from home, you may still be able to claim certain business expenses. Whether you work from a spare bedroom, your dining table or a dedicated home office, some of your household costs could qualify, provided they relate to your business.

Exactly what you can claim depends on whether you are a sole trader or operate through a limited company, as well as the type of expenses involved. Here’s what you need to know.

Can sole traders claim working from home expenses?

Yes, if you are a sole trader, you can claim the business proportion of your household costs, as long as the costs are incurred wholly and exclusively for your business.

This means you can claim expenses that are only directly related to running your business, but if an expense is used for both business and personal reasons, you can usually only claim a portion used for business.

For example, if you use your home internet for both work and personal use, the full cost cannot usually be claimed, and instead, you’d have to reasonably estimate how much of the cost relates to business purposes.

Alternatively, if you meet the qualifying conditions, you may be able to use HMRC’s simplified expenses method. This allows eligible businesses to claim a flat rate based on the number of hours worked from home each month, rather than calculating the exact proportion of household bills.

For some businesses, this is quicker and easier. For others, calculating the actual costs can result in a larger claim.

Can limited companies claim working from home costs?

Yes, if you operate through a limited company, there are several ways to claim the costs of working from home.

One option is to reimburse yourself for allowable household expenses. Another is for your company to pay you a small working from home allowance where the conditions are met.

The most suitable approach depends on your individual circumstances, so it is worth taking professional advice before making a claim.

What home office expenses can I claim?

If you work from home, you may be able to claim a proportion of certain household costs, including:

For example, if you’re a beauty therapist and have converted a spare bedroom into a dedicated treatment room that is only ever used for your business, you may be able to claim a portion of your household costs.

This claim is generally based on the part of the home used for business and the associated running costs. However, it’s also worth seeking advice, as using part of your home exclusively for business could have other tax implications further down the line.

Can I claim office equipment?

Yes. If you buy equipment that is needed for your business, this is normally an allowable business expense.

Examples include:

Bear in mind that if you also use the equipment personally, you may need to adjust your claim to reflect the business use.

Can I claim tea, coffee and snacks?

This is a question we hear quite often!

Tea, coffee and biscuits for yourself while working from home are generally considered personal living costs, so they cannot usually be claimed as business expenses.

If you buy refreshments for clients during a business meeting, different rules may apply depending on the circumstances.

What can’t I claim?

Not every household cost is an allowable business expense.

Some examples of costs that are usually not claimable include:

The key question to ask yourself is whether the expense was incurred for your business rather than your personal life.

Keep good records

If you are claiming business expenses while working from home, it is important to keep accurate records.

We highly recommend saving your receipts, invoices and bills, and making a note of how you calculated any business proportions. Good record keeping makes it much easier to complete your tax return and provides evidence if HMRC ever asks questions about your claim.

If you’re unsure what you can claim, it’s always better to ask before submitting your accounts. Claiming the right expenses can reduce your tax bill, but claiming the wrong ones could create unnecessary problems later.

At GLX, we help business owners understand exactly what they can and cannot claim. If you work from home and want to make sure you’re claiming everything you’re entitled to, contact our team today.

The Government has announced a temporary 5% VAT rate for children’s meals, admission tickets, and family attractions as part of its summer cost-of-living support measures. From 25th June 2026 to 1st September 2026, qualifying supplies will attract the new VAT rate instead of the standard 20% rate.

While the change is intended to help reduce costs for families during the school holidays, it also creates a number of practical considerations for businesses in the hospitality, leisure, entertainment, and attraction sectors.

What Is Changing?

For a limited period between 25th June and 1st September 2026, a reduced VAT rate of 5% will apply to:

Businesses that currently charge VAT at 20% on these supplies may need to update pricing, accounting systems, tills, and booking platforms to ensure the correct VAT treatment is applied during the qualifying period.

Which Children’s Meals Qualify?

Not every meal purchased by or for a child will benefit from the reduced rate.

To qualify, the meal must:

HMRC has made it clear that eligibility depends on how the meal is marketed, priced, and presented rather than who ultimately consumes it. A dedicated children’s menu will generally be a strong indicator that the meal qualifies.

What Doesn’t Qualify?

The reduced rate does not apply to:

Where a children’s meal is sold as a package, such as a main course, drink, and dessert for a single price, the entire package can qualify for the reduced rate. However, separately priced add-ons and upgrades may remain subject to the standard VAT rate.

How Does the Reduced Rate Apply to Tickets?

The temporary VAT reduction also applies to children’s tickets for:

Similarly to children’s meals, eligibility is determined by how the ticket is marketed and sold. Children’s tickets must be specifically presented as admissions for children. Adult tickets remain subject to the standard rate unless they form part of a qualifying family package.

Family Tickets

One particularly notable aspect of the announcement is the treatment of family tickets.

Where a family ticket includes at least one child admission and is sold as a single package, the reduced VAT rate applies to the entire ticket price, including the adult admissions within that package.

This could create significant VAT savings for qualifying family attractions and venues during the summer holiday period.

Which Attractions Are Included?

The reduced rate extends beyond traditional entertainment venues and covers admissions to a wide range of attractions suitable for families with children.

Examples include:

However, businesses should be aware that existing VAT exemptions remain unchanged. If admission is already exempt from VAT, the temporary 5% rate does not apply.

Practical Considerations for Businesses

Although the policy may appear straightforward, implementation may require careful planning.

Businesses affected by the change should review internal procedures and processes such as:

The reduced rate only applies for a little over two months, meaning businesses will also need a plan for reverting supplies back to their usual VAT treatment from 2 September 2026 onwards.

Will Customers See Lower Prices?

The Government’s intention is to reduce the cost of selected activities and services for families during the summer holidays. However, businesses are not required to reduce prices by the full VAT saving, meaning the impact on consumers may vary between organisations.

Some businesses may choose to pass on the saving in full, while others may use it to offset rising operating costs.

How GLX Can Help

If your business operates in the hospitality, leisure, entertainment, or visitor attraction sectors, it is important to ensure the reduced rate is applied correctly.

The rules depend heavily on how products and admissions are marketed, packaged, and sold, meaning the VAT treatment may not always be straightforward.

If you’re unsure whether a particular supply qualifies, or need support updating your systems and processes, our team can help you understand the rules and remain compliant throughout the temporary relief period – speak to us today.

Frequently Asked Questions: VAT Rate for Children’s Meals and Family Attractions

Does the 5% VAT rate for children’s meals include takeaway meals?

No. The temporary reduced rate applies to qualifying children’s meals supplied as part of catering services for consumption on the premises. Takeaway food remains subject to its usual VAT treatment.

Do family tickets qualify for the reduced VAT rate?

Yes. Where a family ticket includes at least one child admission and is sold as a single package, the reduced 5% VAT rate can apply to the entire ticket price.

When does the temporary VAT reduction start and end?

The temporary 5% VAT rate applies from 25 June 2026 until 1 September 2026. From 2 September 2026, the normal VAT rules will apply again.

Can adult tickets benefit from the reduced rate?

Adult tickets purchased separately do not qualify. However, adult admissions included within a qualifying family ticket may benefit from the temporary reduced rate.

Do all family attractions qualify?

Not necessarily. Businesses should review HMRC’s guidance carefully, as eligibility depends on the nature of the attraction and the VAT treatment of the admission charge.

What should businesses do before the reduced rate begins?

Businesses should review their pricing, accounting software, till systems, booking platforms, and VAT coding to ensure qualifying supplies are treated correctly during the temporary relief period.

Volunteers’ Week is an opportunity to recognise and celebrate the incredible contribution volunteers make to communities across the UK.

At GLX, we’re proud to have team members who dedicate their time outside of work to supporting a wide range of charities, organisations and community initiatives. From preserving local heritage and supporting vulnerable members of the community to providing vital mental health support and fundraising for good causes, their volunteering efforts make a real difference to people’s lives.

To mark Volunteers’ Week 2026, we caught up with four members of the GLX team to learn more about the organisations they support, what inspired them to get involved, and what volunteering means to them.

Karheena Woodroffe of GLX Advisory smiles while on the telephone wearing a red blazer and black blouse whilst in front of a slatted wooden wall which features the bottom half of the GLX logo.

Karheena Woodroffe

Karheena is one of our Client Managers who volunteers with Shout, the UK’s free, confidential, 24/7 text messaging support service for anyone struggling to cope.

We spoke to Karheena about her volunteering experience, what inspired her to get involved, and the impact that services like Shout can have on people during difficult times.

Tell us about Shout and the work they do

“Shout is the UK’s only free confidential 24/7 messaging service for anyone who needs mental health support and is struggling to cope. When you text 85258 (easy to remember as it is up and down the middle numbers on your phone), you will be connected to a volunteer who is ready to listen and support you. As a volunteer, we work with people in distress to take them to a calmer moment and empower them to take the next steps to feeling better.”

What inspired you to start volunteering?

“I’ve seen first-hand how difficult it can be for a young person with psychosis to access mental health support when they need it most. Charities such as Shout provide a vital lifeline, and seeing the difference these organisations make inspired me to get involved rather than simply talk about how our country’s mental health service is in crisis.

I applied to volunteer with Shout and was delighted when my application was accepted, and soon after had completed the 25-hour training programme. While it was nerve-racking taking my first conversation, the support from the clinical supervisors and volunteer community has been incredible, and I’m proud to help others.”

What do you enjoy most about volunteering for Shout?

“I feel like I am making a difference to someone who is struggling and has reached out for help. Our training teaches us to truly listen to someone, and it could be that we are the first people our texter has felt able to talk to. We try to help our texter move from a hot moment to a place of calm by listening with empathy and validating their emotions.

Many conversations are with young people and we talk about difficult subjects such as self-harm and suicide. It is immensely rewarding to be able to speak to a person in such distress, and help them feel calmer in that moment.”

What would you say to someone considering volunteering?

“Volunteering can be incredibly rewarding because you are doing something you want to do rather than something you have to do. It doesn’t matter if you only have a short amount of time to offer, the key is to find a volunteering opportunity that you feel personally invested in, and go from there.”

Will Moy

Manager, Will Moy, is involved with Sheringham and Cromer Round Table, helping to organise and support a variety of fundraising, charitable, and community projects throughout the year.

We spoke with Will about his involvement, the impact community-led initiatives can have, and why giving back remains so important:

Tell us about the organisation you volunteer with

“I’ve been a part of Sheringham & Cromer Round Table for over 7 years. Round Table is an international organisation with over 30,000 members but it was started right here in Norwich, almost 100 years ago. The Louis Marchesi pub is named after the founder, and those who’ve visited Cinema City may have spotted the Round Table rondel in the bar area, to mark where the group began way back in 1927. As well as hosting social events for our members, Round Table locally hosts a number of events to give back to the local community and its members donate time to local charities needing support.”

What inspired you to start volunteering?

“Round Table goes beyond a group of friends meeting up. It enables us to give something back to the local community through fundraising, events and supporting worthwhile causes. When I first heard about it, I knew it was something I wanted to be involved in. It’s incredibly rewarding to see the positive impact we can have while also building friendships and making memories along the way.”

What do you enjoy most about being a part of Round Table?

“The variety of events and activities we get to be part of. No two years are ever the same, and there’s always something new to get involved in, whether that’s organising fundraising events or supporting local community projects. From gin festivals to firework displays, being a part of Round Table is a great mix of having fun, building friendships and giving something back.”

What experiences has Round Table given you that you never expected?

“I’ve met Round Table members from all over the world. I even visited one of our twin groups in New Delhi back in 2022!”

Melissa Porter

Melissa is our Office Manager who volunteers as a Passenger Guard on the North Norfolk Railway.

We sat down with Melissa to learn about how she became involved and what being a Guard is all about:

Tell us about the North Norfolk Railway and the work it does

“The North Norfolk Railway is a heritage railway line that runs from Sheringham to Holt, via Weybourne. Run almost entirely by volunteers, from steam crew and platform staff, to lineside maintenance and gift shop staff, the North Norfolk Railway exists to preserve a piece of local history for our future generations.”

How did you first get involved with volunteering there?

“I took my dad to a steam gala there, and he made a passing comment: “it’s incredible what these volunteers do”. I had no idea that the whole operation relies mostly on volunteers and without their passion, dedication, and enthusiasm, it simply wouldn’t be able to continue.

It’s such a beautiful piece of local heritage, and I wanted to be a part of helping to preserve it.”

For those who may not know, what does a Passenger Guard do?

“A Passenger Guard is responsible for the whole train and the safety of the passengers on the day. Most people know the Guard is the one who “waves the green flag and blows the whistle”, but there’s so much more to the job! I prepare the train inside and out, check for any faults or defects, ensure vacuum brakes work as expected, and prepare for dispatch. It’s a safety-critical role that took me the best part of a year to train for and become qualified, but I love it!”

What do you enjoy most about the role?

“Seeing customers step on to the platform for the first time and seeing the awe as they feel like they have been transported into another era is so wholesome. The team are also incredible; as we are all there as volunteers, we all have one thing in common: we want to be there and we are passionate about seeing the railway succeed, so we always strive to give our customers the best day out.”

What would you say to someone considering volunteering?

“Give it a go! There are so many organisations that rely on volunteers. Not only are you helping a worthwhile cause, but you also gain new skills and meet fantastic people. You never know where it might lead!”

Donna Martin

Our Practice Manager, Donna Martin, volunteers with The People’s Picnic Norwich, serving wholesome and home-cooked meals and providing essential supplies to the homeless & hungry of Norwich.

We spoke to Donna to learn about her volunteering experience as well as the important work that The People’s Picnic Norwich does within our local community.

Tell us about The People’s Picnic Norwich

“The People’s Picnic Norwich is a grassroots organisation providing meals and essentials to the homeless and vulnerable in Norwich. They provide vital, much-needed support come rain or shine, and have become an integral part of the lives of so many in the community.”

How did you first get involved with volunteering there?

“I’ve been involved since the start of this year. Initially I went down to help as a one-off, however, after just one visit I wanted to go again on a regular basis and lend my support; not just to the other volunteers, but also to the community who need and use the support provided.”

What made you decide to start volunteering?

“I’ve wanted to get involved and give something back to the community for a while. I’m in a fortunate position where I have a good job, a home, food on the table, and a caring family and friends around me. There are so many people who are not so lucky, and giving a small amount of my time each month to hand out a hot coffee, biscuits, sweets and hot food, makes me feel like I’m helping to make a difference. Sometimes it is very hard, when the people you are serving are the same age as your own children, and we may be the only support they have.”

What do you enjoy most about the role?

“I love engaging and talking to those who need the service we offer. Many are so polite and thankful for the support we’re providing and sometimes just being there to listen about their days makes it feel so worthwhile.”

What would you say to someone considering volunteering?

“There are so many volunteering opportunities, sometimes you just fall into them, on other occasions you just find something that feels so right, so explore what’s out there, you never know how much a small amount of your time can mean the world to others.”

We’d like to thank all the GLX team members who shared their stories with us this week, and a huge thank you to volunteers everywhere for the time, energy, and dedication you give to making a difference in your communities!

If you have ever sold something valuable, such as a property, shares, or even a business, you may have come across Capital Gains Tax (CGT).

It is one of the most common areas of tax people feel unsure about, because the rules are not always obvious until you need them.

In this guide, we explain everything you need to know about Capital Gains Tax. We’ll cover what it is, when it applies, how it is calculated, and what you can do to manage it properly.

What is Capital Gains Tax?

Capital Gains Tax is a tax on the profit you make when you sell or dispose of an asset that has increased in value.

The key word here is gain. You are not taxed on the total amount you receive, only on the increase in value.

For example, if you bought shares for £5,000 and later sold them for £8,000, your gain would be £3,000. It is this £3,000 that may be subject to Capital Gains Tax.

What assets are subject to CGT?

CGT can apply to a wide range of assets. Some of the most common include:

Your main home is usually exempt, thanks to what is known as Private Residence Relief. However, there are exceptions, particularly if the property has been rented out or used for business purposes.

When do you pay Capital Gains Tax?

You may need to pay Capital Gains Tax when you:

Even if no money changes hands, a gain can still arise because HMRC often treats gifts or transfers as if the asset was sold at its market value. In other words, the gain is based on what the asset is worth at the time, not what you received, which is something that often catches people off guard.

How much do you pay in Capital Gains Tax?

The rate of Capital Gains Tax depends on two main factors: your income tax band and the type of asset you are selling.

For the 2026/27 tax year:

The exact rate will depend on your overall taxable income, which is why timing and planning can make a real difference.

What is the Capital Gains Tax allowance?

Each individual has an annual Capital Gains Tax allowance which is the amount of profit you can make before any tax is due.

For the 2026/27 tax year, the allowance is £3,000, or £1,500 for trusts.

If your total gains for the year fall below this threshold, you will not pay CGT. If your gains exceed it, you will only be taxed on the amount above the allowance.

This allowance cannot be carried forward, so if it is not used in a given tax year, it is lost.

How do you calculate Capital Gains Tax?

Working out your Capital Gains Tax starts with calculating your gain.

This is usually:

Sale price, minus purchase cost, minus allowable costs

Allowable costs can include legal fees, stamp duty, and improvement costs. These reduce your gain and, in turn, the amount of tax you pay.

Once your gain has been calculated, you deduct your annual allowance and apply the relevant tax rate.

While the process is straightforward in principle, the detail matters, as small adjustments can have a noticeable impact on the final figure.

Are there ways to reduce Capital Gains Tax?

There are legitimate ways to reduce your Capital Gains Tax liability, depending on your circumstances.

Using your annual allowance each year is one of the simplest approaches. Spouses and civil partners can also transfer assets between them, allowing you to make use of two allowances instead of one.

In some cases, specific reliefs may apply. For example, Business Asset Disposal Relief (formerly Entrepreneurs’ Relief) can reduce the tax rate when selling a qualifying business. The relief is subject to a £1 million lifetime limit, with qualifying gains taxed at 18% for disposals made on or after 6 April 2026. Any gains in excess of this limit are taxed at the standard CGT rates.

Planning ahead is key. Once a sale has taken place, opportunities to reduce tax are often more limited.

Do you need to report Capital Gains Tax?

In most cases, you will need to report your gains to HMRC.

This is typically done through a Self Assessment tax return. However, if you sell UK residential property and have tax to pay, you may need to report and pay within 60 days of completion.

Missing deadlines can lead to penalties, so it is important to understand your reporting obligations early on.

Capital Gains Tax on property

Property is one of the most common areas where CGT applies.

If you sell a second home or a buy-to-let property, any gain is likely to be taxable. The calculation can also be more complex, particularly if the property has been your main residence at any point.

Reliefs may still be available, but they depend on how the property has been used over time.

Why CGT catches people out

CGT often becomes relevant at key moments, such as selling a property, restructuring investments, or exiting a business.

Because it is not something most people deal with regularly, it can come as a surprise as the rules do require careful handling to get right.

A small misunderstanding can lead to overpaying tax or, in some cases, unexpected liabilities.

Getting the right support

Capital Gains Tax is about understanding your income, your assets, and your plans.

At GLX, we support clients with clear, practical advice tailored to their situation. Whether you are planning a sale or have already made one, getting the right guidance early can make a meaningful difference to the outcome.

If you are unsure how CGT applies to you, or you want to plan ahead with confidence, contact our team. We are always happy to talk things through.

The UK Government has announced a new £3,000 Youth Jobs Grant as part of its wider plan to reduce youth unemployment and support businesses in hiring young people.

While employment support schemes are not new, this grant takes a more direct approach by providing employers with a financial incentive to hire individuals who may otherwise struggle to secure work.

In this guide, we explain what the Youth Jobs Grant is, who qualifies, how it works, and what it means for employers.

What is the £3,000 Youth Jobs Grant?

The £3,000 Youth Jobs Grant is a government-funded incentive designed to encourage businesses to hire young people aged between 18 and 24.

Under the scheme, employers receive a £3,000 payment for each eligible individual they hire. The aim is to reduce the initial cost of recruitment and make it easier for businesses to bring in new talent.

Unlike more structured programmes, the grant does not require employers to create specific placements or follow a set employment model. Instead, it supports real, ongoing jobs, giving employers greater flexibility in how roles are designed and delivered.

Who is eligible for the Youth Jobs Grant?

The grant is targeted at young people who are at risk of becoming long-term unemployed.

To qualify, individuals must be aged between 18 and 24, currently claiming Universal Credit, and have been actively seeking work for at least six months.

This means the scheme focuses on those who may need additional support to enter the workforce, but have demonstrated proactivity in their search.

How does the Youth Jobs Grant work?

In practice, the scheme is relatively straightforward. Employers who hire an eligible individual can receive a one-off payment of £3,000 to support the cost of employment.

The grant is intended to help with expenses such as initial salary costs, training and onboarding, and any equipment or setup required for the role.

However, it’s important to note that the grant does not cover the full cost of employment. Unlike other schemes, it is a fixed contribution, meaning employers are still responsible for the majority of wages and ongoing costs.

At the time of posting, there is currently no formal timeline as to when employers can expect to receive the grant payment. However, further details are expected as they roll out the scheme from spring 2026.

How is the Youth Jobs Grant different from the Jobs Guarantee Scheme?

The Youth Jobs Grant sits alongside the Jobs Guarantee Scheme, but the two serve different purposes.

The Youth Jobs Grant is designed as an early intervention. It supports individuals who have been unemployed for around six months by providing a financial incentive to employers, but allows for flexibility in how roles are structured.

In contrast, the Jobs Guarantee Scheme is aimed at those who have been unemployed for longer, typically 18 months, and involves a more structured, fully funded placement with additional support built in.

In short, the Youth Jobs Grant helps encourage hiring earlier, while the Jobs Guarantee provides a more intensive level of support later on.

Why has the Youth Jobs Grant been introduced?

The introduction of the grant reflects a shift in focus towards preventing long-term unemployment, rather than responding reactively.

Research consistently shows that the longer someone remains out of work, the more difficult it becomes to re-enter employment. By introducing support at the six-month mark, the government is aiming to intervene earlier and improve long-term outcomes.

For employers, this also opens up access to a wider pool of candidates who are actively looking for work but may need an initial opportunity to get started.

What does this mean for employers?

For businesses, the £3,000 Youth Jobs Grant offers a practical way to reduce the upfront cost of hiring.

While it does not fully fund wages, it can make a meaningful difference when recruiting junior or entry-level roles, particularly when combined with a well-structured onboarding process.

It also provides an opportunity to invest in future talent. Many businesses struggle to find candidates with experience, but schemes like this allow employers to bring in individuals at an earlier stage and develop them internally.

Thinking about hiring?

The £3,000 Youth Jobs Grant is one of several new initiatives aimed at supporting employment, and understanding how it fits alongside other schemes can help you decide which route is best for your business.

If you’re considering hiring new staff, either through this scheme or more generally, it’s worth taking the time to understand the financial and practical implications. From payroll setup and employment costs through to longer-term planning, having the right structure in place makes a significant difference.

If you’d like to talk through what hiring could look like for your business, or how these schemes may apply to you, get in touch with the GLX team today.

Trivial benefits are one of the simplest ways to reward employees and directors without creating a tax liability, yet many business owners either overlook them or are unsure how the rules apply in practice.

In this article, we explain everything you need to know about trivial benefits, including what they are, how they work, what directors can claim, and how to use them correctly, especially as the tax year comes to an end.

What are trivial benefits?

A trivial benefit is a small, non-cash gift that a business can give to an employee or director. When certain conditions are met, these benefits are not taxable, nor subject to National Insurance, and do not need to be reported to HMRC.

This makes trivial benefits a simple and tax-efficient way to reward people without complicating payroll or creating unexpected tax bills.

What counts as a trivial benefit?

To qualify as a trivial benefit, the gift must meet a clear set of rules set by HMRC. The cost of the benefit must be £50 or less, and it must not be provided in cash or as a cash voucher. It also cannot be a reward for work or performance, and it must not form part of an employee’s contract or salary package.

In practice, this means the benefit should feel like a genuine gesture rather than a form of payment. If it is given as part of someone’s expected earnings or tied to their role, it will not qualify.

Examples of trivial benefits

Many everyday workplace gestures fall within the definition of trivial benefits. Common examples include giving a gift voucher for a birthday, sending flowers to mark a personal milestone, or providing a small hamper or bottle of wine at Christmas.

Whatever the reason for the gift, the key point to remember is that these benefits should be occasional, low in value, and not connected to an employee’s duties or performance.

Trivial benefits for employees

For employees, there is no fixed annual cap, although benefits must remain occasional and not form a regular pattern, and provided each one meets the qualifying criteria. This gives businesses flexibility to recognise personal events, celebrate milestones, or simply maintain a positive working environment.

Because these benefits are not taxed, they can often feel more valuable to employees than a small bonus would, while also being more cost-effective for the business.

Trivial benefits for directors

For directors of “close companies”, the rules are slightly different. While directors can still receive trivial benefits, there is an annual cap of £300 per tax year.

A close company is a company that is controlled by five or fewer shareholders, or by its directors. Most small limited companies fall into this category, which means the £300 annual cap on trivial benefits will usually apply to directors.

For example, this would allow for up to six separate benefits of £50 each, and if the total value of trivial benefits exceeds £300 in a tax year, the excess amount will become taxable.

This is an important distinction for owner-managed businesses, where directors may look to use trivial benefits as part of their wider tax planning.

What does not qualify as a trivial benefit?

Not all small gifts fall within the trivial benefits exemption. Gestures such as cash payments, bonuses, and anything that can be exchanged directly for cash will not qualify. The same applies to benefits that are linked to performance, such as hitting targets, or those that are written into an employment contract.

If a benefit forms part of someone’s expected reward for doing their job, it will be treated as taxable income rather than a trivial benefit.

Why timing matters, especially near the end of the tax year

Trivial benefits often become more relevant in the weeks leading up to the end of the tax year (5th April) as businesses review their finances and look for tax-efficient opportunities.

For directors in particular, as the allowance for trivial benefits run throughout the financial year (6th April to 5th April), not the business year-end, this means that now is the time to make use of the £300 annual allowance before it resets. If it has not been used during the year, there may still be time to take advantage of it.

Planning ahead helps ensure that you stay within the rules while making the most of the available allowances.

How to record trivial benefits correctly

Although trivial benefits are not taxable, it is still important to keep a basic record of what has been provided. This should include details such as the cost, the date, who received the benefit, and the reason it was given.

Keeping clear records helps demonstrate that the benefit meets HMRC’s criteria and provides reassurance if questions are ever raised.

Why trivial benefits are worth using

Trivial benefits are often overlooked, but they can play a valuable role in both tax planning and employee engagement, as they allow businesses to reward people in a simple and cost-effective way, without increasing tax exposure.

For directors, they offer a straightforward way to extract small amounts of value from the company tax-free, and for employees, they help create a more thoughtful and positive workplace culture.

Need help with trivial benefits?

If you are unsure whether something qualifies as a trivial benefit, or how the rules apply to your business, it is always worth checking.

At GLX, we support business owners with clear, practical advice on tax, rewards, and compliance. Get in touch with our team today for further guidance.