News - 8 May 2026

An old pub on a quiet High Street

Accounting News - 8 May 2026

In this week’s Enews, we look at HMRC’s reminder to extend child benefit for those eligible. There are also warnings that small firms are being excluded from EU markets and the heavy tax burden contributing to pub closures to update you on.

Photo by Aedrian Salazar on Unsplash

HMRC reminds parents to extend Child Benefit claims

HMRC is reminding parents of 16-19-year-olds to extend their Child Benefit claim if their teenager is staying in certain types of education or training after their GCSEs or National 5s.

Child Benefit will automatically stop on 31 August on or after a child's 16th birthday unless parents confirm their teenager's plans. Around 1.5 million reminder letters will be sent from late April, with most landing on doorsteps in early May.

HMRC’s digital service for extending opened on 1 April, so those who already know their teenager's plans can act immediately.

Claim extensions can be made on the HMRC app or online at GOV.UK. The letters also include a QR code linking directly to the digital service.

Child Benefit is worth £27.05 a week – or £1,406.60 a year – for the eldest or only child and £17.90 a week for each additional child. Last year, 874,000 parents extended their claim, with more than half doing so online or through the HMRC app.

Myrtle Lloyd, HMRC’s Chief Customer Officer, said:

‘Child Benefit is a real financial boost for families, so if your teenager already knows they're staying in education or training after their GCSEs or National 5s, you don't need to wait for our letter.’

Internet link: HMRC press release


Small firms pushed out of EU markets by red tape and rising costs

Red tape, rising costs, and complex rules are pushing small firms out of EU markets, new research by the Federation of Small Businesses (FSB) has warned.

The FSB’s data shows that 34% of SME traders expect to reduce or stop EU trade altogether if current rules do not change.

Meanwhile, 45% expect to maintain current trading levels and only 6% see an opportunity to grow trade with the EU under the existing arrangements.

The FSB says compliance costs are also eating into margins, with 34% facing expenses of more than £5,000 a year.

Disruption at the border is common, with firms reporting goods being turned away or held up, resulting in unpredictable delivery times and damage to customer relationships.

Tina McKenzie, Policy Chair at the FSB, said:

‘With growth at the top of the agenda, now is the time to get EU trade working for small firms.

‘Small firms are not short of ambition but they’re being worn down by a system that feels stacked against them. Many want to grow into EU markets, but don’t have time to be swallowed by paperwork, creeping costs and delays that put hard-won customer relationships at risk.

‘This isn’t complicated – a de minimis deal, an SPS agreement, simpler VAT rules and our other recommendations could unlock so much potential. They would take pressure off small firms and give them the breathing space they need to grow.’

Internet link: FSB website


‘Disproportionate tax burden’ closing two pubs a day

A total of 161 pubs closed across Britain in the first three months of 2026, an equivalent of almost two a day, according to figures from the British Beer and Pub Association (BBPA).

The industry body blamed a ‘disproportionate tax burden and heavy new costs’ for the closures.

The BBPA says that the scale of closures underlines exactly why the pub-specific business rates relief that came into effect in April was so necessary for the sector – and why a long-term plan is needed to save local pubs.

It said the key to securing the future of pubs is delivering permanent, fair business rates reform, a cut in beer duty and VAT, and reducing the regulatory burden.

Emma McClarkin, CEO of the BBPA, said:

‘The scale of these closures is avoidable because pubs are doing a brisk trade, but their profits are wiped out by a disproportionate tax burden and huge costs.

‘For too many, the sheer weight of taxes and regulatory costs have forced them to shut up shop, which will only hurt communities, workers, and the wider economy.

‘This underscores why government’s business rates relief was so necessary, and the support such a welcome relief.

‘We want to work with government to establish a permanent long-term plan that will deliver permanently lower bills, a fairer system and ultimately protect this treasured sector. This means more people in jobs, precious community spaces protected, vibrant high streets, and more investment and growth.’

Internet link: BBPA website



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