As we enter 2026, small businesses across the UK — including those operating in York — continue to adapt to an environment where accurate financial information and timely compliance are increasingly important.
One of the most practical steps for owner-managed businesses is improving the quality and frequency of financial reporting. Regular management accounts can provide clearer insight into profitability, cash flow and tax exposure throughout the year, rather than relying solely on year-end figures. This allows business owners to make informed decisions earlier and with greater confidence.
Digital record-keeping is now becoming a standard requirement for many businesses. With Making Tax Digital already established for VAT and expanding further, maintaining up-to-date digital records is no longer optional. Businesses that integrate bookkeeping into their routine processes often find it easier to stay compliant and respond promptly to HMRC queries.
Tax planning remains another key consideration. Understanding available reliefs, allowances and payment deadlines can help businesses manage cash flow more effectively and avoid unnecessary penalties. Reviewing tax positions in advance (rather than after the year end) can also highlight opportunities to structure income and expenditure more efficiently.
For businesses with staff, payroll accuracy and compliance continue to be essential. Changes to Employer’s National Insurance,, reporting obligations and pension duties mean regular reviews can help ensure systems remain aligned with current requirements.
For small businesses in York and across the UK, 2026 presents a clear opportunity to strengthen financial foundations. By focusing on accurate records, timely reporting and forward planning, business owners can place themselves in a stronger position to manage growth, meet obligations and plan with clarity.
MCO Accountancy are always on hand to assist our clients with there specific requirements. Feel free to get in touch for an informal chat about your circumstances and how we can help you.