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Kenneth Morris Limited Chartered Accountants, Taxation Consultants, Business Advisers

20/10/2026

Small businesses considering taking on an apprentice have a new financial incentive to investigate following the introduction, from 1 October 2026, of a £2,000 hiring payment for eligible employers in England that do not pay the apprenticeship levy and recruit an apprentice aged between 16 and 24. ...

19/10/2026

Bank of England holds interest rates at 3.75%

A split decision by the Bank of England's nine-member Monetary Policy Committee has held interest rates at 3.75%. The 6-3 decision came in spite of the Office for National Statistics reporting UK inflation accelerating to 3.1% the day before. July's inflation rate was 2.9%.

Rising fuel prices due to war in the Straits of Hormuz, along with US tariffs, have seen global pressures on prices, with the UK's position exacerbated by poor domestic growth.

Businesses and homes have been put on notice by the Bank's governor, Andrew Bailey. He warned that should inflation move towards 4%, the Bank was likely to change its position.

In a surprise move, the Bank also announced that it was suspending an expected sale of £488 billion of government debt. £120 billion would be held to back the Bank’s issuance of banknotes. Other gilts would be sold to the market at a slower rate.

The Bank of England's decision came after the US Federal Reserve lifted borrowing costs for the first time since 2023.

And in other news ...

Do you know about the 159 service?

As online and telephone fraud rockets, employers and employees are being reminded of the 159 dedicated telephone number for helping people to safely contact their bank.

Launched in 2021, the service has received more than one million calls and provides a simple route for people receiving unexpected calls about financial matters to end the conversation and independently contact their bank.

The warning comes as the latest UK Finance Annual Fraud Report reveals criminals stole £1.28 billion through payment fraud during 2025, up 4% year-on-year. Authorised Push Payment (APP) fraud alone accounted for £576.4 million in losses, including £75.6 million in business losses.

England’s new tourist tax

Mayors across England are to be given the power to charge a tourist tax on overnight stays which would apply to British and foreign visitors alike.

Rather than being a flat fee, it would be a percentage of the visitor’s total spend, with proponents saying the money raised could be ring-fenced for tourism-related spending. The rules published so far, however, will allow mayors and strategic authorities to decide how levy revenues are spent.

The government consulted on the introduction of an overnight visitor levy between November 2025 and February 2026 and has decided to implement its consultation outcome document.

It will bring a bill to Parliament ‘in due course’ to introduce the levy.
All mayoral and foundation strategic authorities in England will be able to introduce an overnight visitor levy, subject to consulting locally and giving businesses advance notice of its introduction and any changes.

It will apply to all short-term visitor accommodation although there can be local exemptions for charitable accommodation, campsites or shelters. To avoid confusion for visitors and businesses, exemptions for localities will not be allowed.

Accommodation providers will be liable for the levy that will be paid through a self-assessment process. It’s up to these providers to pass on the levy to their customers or not. Local authorities will oversee both tax collection and regulation.

[email protected]

KM continuing to support you

Do get in touch if you have any queries

If you have any questions on this or other related matters please continue to call and e-mail us for help.

If you would like to have a one-to-one discussion with one of the team, please e-mail us to sort an appropriate time for a call on
[email protected]
01527 872888

New contacts

Is there anyone in your network that you think would benefit from this kind of support in these challenging times? If so, please feel free to forward this message to them so they can benefit as well.

Thank you

The team at KM

15/10/2026

When businesses think about recruitment, they can easily concentrate on attracting younger workers. The latest employment figures suggest there may be another group worth considering.Official PAYE statistics for August 2026 show that the number of payrolled employees aged 65 and over increased by 62...

14/10/2026

Another significant change to payroll is now only six months away.From 6 April 2027, employers will have to report and account for tax on several common benefits in kind through payroll in real time.The first phase covers company cars, car fuel, vans, van fuel and employer-provided medical benefits....

12/10/2026

SMEs warned on all internet-exposed systems

Disruptive cyber attacks are going beyond computers and into manufacturing and processing systems, Small to Medium-Sized Enterprises (SMEs) have been warned.

The National Cyber Security Centre (NCSC) has seen a concerted and increased number of attacks on what’s known as Operational Technology (OT) in numerous sectors both globally and domestically. These attacks have had real-world effects.

Hackers cut off a small gas-fired 'peaker' power station earlier this year. These UK plants have small local capacities, are remote with no employees and use OT to balance local baseload and feed into the national grid.OT is both the hardware and software systems that monitor, control and automate infrastructure and processes across a variety of sectors.

The NCSC is warning that organisations should not assume their equipment is not internet-exposed. It said, “Against the backdrop of technology-enabled uplifts in cyber capability and increased geopolitical instability, the NCSC assesses that the threat from state use of offensive cyber, including outside of conflict, has almost certainly increased.”

Without organisations testing legacy structures, older equipment or misconfiguration, systems can be easy to exploit for state and non-state actors.

Companies should examine all their Programmable Logic Controllers (PLCs), Industrial Control Systems (ICS) and Supervisory Control and Data Acquisition (SCADA) systems to ensure their security.

The NCSC has outlined a series of steps that should be taken.

Build a definitive view of your OT architecture, including all assets, communications pathways and external connections. This will help identify internet-exposed systems, unmanaged assets and legacy connectivity that may introduce risk.
Ensure OT devices are not directly exposed to the public internet.
Change any default credentials and prevent the use of shared passwords on web interfaces, management interfaces, and management protocols.
Use unique accounts for administrators and enable multi-factor authentication (MFA) wherever supported. Any stronger authentication mechanisms, such as public/private key authentication, are recommended.
This includes the control of access to OT networks. The NCSC recommends updating systems efficiently. This also includes ensuring that the management of these devices is only possible from a segregated management network that is not connected to the internet.

The NCSC proposes updating certain industrial protocols and security applications, which it lists on its website, including procedures.

If it wasn’t important before, IT departments should ensure they log and monitor all connectivity to and within OT networks. As OT environments are typically static and predictable, baseline monitoring can be highly effective at identifying unauthorised activity, misconfigurations, or potential cyber compromise.

Monitoring is also important during normal operations. PLCs, in particular, should not be left in programming or maintenance modes and should be in write-protected mode where possible.

The NCSC also recommends the separation of networks; for example, the business and management system should be separated from OT and, come to that, security systems.

Don’t just keep backups; it is important to test the backups and your recovery procedures. Many organisations, including those regarded as ‘tech-savvy’, have been diligent in backup procedures but then hit problems when it came to restoring their data.

[email protected]

KM continuing to support you

Do get in touch if you have any queries

If you have any questions on this or other related matters please continue to call and e-mail us for help.

If you would like to have a one-to-one discussion with one of the team, please e-mail us to sort an appropriate time for a call on
[email protected]
01527 872888

New contacts

Is there anyone in your network that you think would benefit from this kind of support in these challenging times? If so, please feel free to forward this message to them so they can benefit as well.

Thank you

The team at KM

08/10/2026

Most business plans assume that things will broadly go according to plan. Unfortunately, customers, suppliers and the economy do not always cooperate. One useful exercise is therefore to ask what would happen if sales unexpectedly fell by 10%.The answer may be reassuring. Alternatively, it may revea...

07/10/2026

Modern accounting software can give business owners access to financial information almost instantly. That does not necessarily mean they are looking at the right information.A dashboard containing turnover, bank balance and profit can be useful, but these figures may tell only part of the story.Con...

05/10/2026

1 October 2026 - Corporation Tax payment is due for companies with an accounting period ending 31 December 2025, unless the company is required to make quarterly instalment payments.5 October 2026 - Deadline for notifying HMRC of a new liability to Income Tax or Capital Gains Tax for the 2025-26 tax...

05/10/2026

Some taxpayers have already started to receive Simple Assessment letters from HMRC for the 2025-26 tax year, with a further tranche due to be sent between October and December 2026.Simple Assessment is used where HMRC cannot collect income tax through PAYE or self-assessment. The PA302 letter sets o...

05/10/2026

UK employers with employees who normally work overseas may have PAYE and National Insurance obligations when those employees come to the UK to carry out their duties in the UK on a short-term basis.Employers should consider the position whenever an overseas employee visits the UK to work. The fact t...

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