Author: Glenn

Student Loans help cover the cost of university or college in the UK. Whether you're full-time, part-time, or heading into postgrad study, here’s what you need to know about applying for 2025–26 funding—even if your plans aren’t final yet.

Student Loans are an essential part of the government’s financial support system for individuals pursuing higher education in the UK. These loans are designed to assist students in covering their living and educational costs during their time at university or college.

If you usually reside in England, you can apply for student finance for the academic year 2025-26. You can submit your application for student finance even if you are unsure about your living or studying arrangements. Applications for postgraduate students will be open at the end of April, while part-time applications will be available starting in May.

You can apply for several types of funding, including Tuition Fee Loans and Maintenance Loans. Applications can be made up to nine months after the start of your course’s academic year. If you are eligible for tuition fee-only funding, you will need to submit your application by post. However, for most applicants, the best way to apply is online through the Student Finance England website.

For those requiring financial assistance for further education courses at a college or training provider, it may be possible to apply for an Advanced Learner Loan instead.

The application procedures differ for students who are from Scotland, Wales, and Northern Ireland, and they should be aware of the specific requirements they need to meet.

Making Tax Digital for Income Tax (MTD for IT) will become mandatory in phases from April 2026. If you’re self-employed or a landlord earning over £50,000, get ready for quarterly updates, digital record keeping, and a new penalty system.

Initially, MTD for IT will apply to businesses, self-employed individuals, and landlords with an annual income exceeding £50,000. From 6 April 2027, the rules will extend to those with an income between £30,000 and £50,000. A new system of penalties for late filing and late payment of tax will also be introduced.

In the Spring Statement 2025, the government confirmed that MTD for IT will apply to sole traders and landlords with income over £20,000 starting in April 2028. The government will also explore how to treat those with income below the £20,000 threshold.

Starting in April 2025, HMRC will begin writing to taxpayers whose 2023-24 self-assessment returns show that their total income from self-employment and property is approaching or exceeds £50,000. These letters will notify them of their obligation to use MTD for IT starting in April 2026.

Although MTD for IT becomes mandatory in 2026, you can opt to sign up voluntarily before then. This allows you to help HMRC test and refine the system while also familiarising yourself with the new rules. While signing up is currently voluntary, there are specific eligibility requirements, and not all taxpayers will qualify. If you are eligible, you can sign up on GOV.UK.

If you volunteer to participate in testing the MTD for IT service, the new penalties for late submissions and late payments will apply. This will replace the existing penalties for the relevant tax years. No penalties will apply for the quarterly updates for volunteers in 2024-25 or 2025-26.

Not all LLP members are taxed as partners. HMRC may treat them as employees if they meet certain conditions. Here's how the salaried member rules work, what the three-part test involves, and who’s excluded from the legislation.

The salaried member legislation can apply to certain members of a Limited Liability Partnership (LLP). This can happen where HMRC consider that a member of an LLP is not a risk-taking partner and can be re-classified as a salaried member.

Prior to 2014, all individual members of an LLP were taxed as if they were a partner. The salaried member legislation brought in new provisions that means that individual members of an LLP are effectively treated as employees for tax purposes.

The legislation includes a three-part test to see if LLP members should be taxed as salaried members. If all three parts apply, then the member will be considered a salaried member.

In a simplified format they are:

• Condition A: a member’s regular payments from the LLP have the characteristics of a “disguised salary”, i.e., at least 80% of the member's pay is fixed or if variable do not vary in line with actual profits and losses of the LLP.
• Condition B: a member has no significant influence over the affairs of the LLP.
• Condition C: a member’s capital stake in the business is less than 25% of their expected reward package.

As long as an LLP member is able to demonstrate that at least one of the three conditions does not apply to their circumstances, they will continue to enjoy the status of a regular partner. HMRC’s internal manuals include a number of examples to help clarify how these rules are applied in practice.

This means that the salaried member provisions do not apply to:

• companies
• individuals who do no more than invest money
• individuals who no longer perform services for the LLP but who continue to receive a profit share.

Gift Hold-Over Relief lets you defer Capital Gains Tax when giving away business assets or qualifying shares. It can be a tax-smart move for passing on wealth, but strict rules apply. Here’s what you need to know to claim it properly.

Gift Hold-Over Relief is essentially a deferral of Capital Gains Tax (CGT) when assets, including certain shares, are either given away or sold for less than their market value to benefit the recipient. This relief ensures that any gain on the asset is 'Held-Over' until the recipient decides to sell or dispose of the asset themselves. To achieve this, the recipient's acquisition cost is reduced by the amount of the held-over gain.

The individual giving the gift of a qualifying asset is not required to pay CGT on the transfer. However, CGT could be applicable if the asset is sold for less than its actual market value. Gifts exchanged between spouses and civil partners are exempt from triggering capital gains. A claim for the relief must be made jointly by both the person giving the gift and the recipient.

If you are giving away business assets, you must meet the following criteria:

• You must be a sole trader, business partner, or hold at least 5% of the voting rights in a company (commonly referred to as your 'personal company').
• The assets must be used within your business or personal company.

In cases where the assets are only partially used for business purposes, you may still qualify for partial relief.

When gifting shares, the shares must be in a company that's either:

• not listed on any recognised stock exchange; or
• your personal company.

Additionally, the company’s main activities must be trading, such as providing goods or services, rather than being engaged in non-trading activities like investment.

Juggling higher education and parenting? Childcare Grants can ease the pressure by covering up to 85% of your childcare costs. If you're a full-time student with young children, this grant could make a real difference—and it doesn’t need to be repaid.

Childcare Grants provide financial support to help students cover the cost of childcare while studying. These grants are aimed at students who are parents or guardians, easing the financial strain of childcare during their higher education journey.

You may be eligible for a Childcare Grant if you:

• are a full-time higher education student; or
• have children under 15, or under 17 if they have special educational needs.

The grant:

• does not need to be repaid; and
• is provided on top of other student finance.

To apply for a Childcare Grant, you must first be eligible for student finance.

The amount you receive depends on:

• Your household income
• The number of dependent children

For the 2025-26 academic year, you can receive 85% of your childcare costs or a fixed maximum amount, whichever is lower. The maximum you can receive is:

• Up to £199.62 per week for one child
• Up to £342.24 per week for two or more children

For example, if your childcare for one child costs £100 a week, you’ll receive £85 (85% of your costs). If the childcare costs £250 a week, you’ll receive £199.62, as 85% of £250 is £212.50, which exceeds the maximum weekly amount.

You can apply for Childcare Grants as part of your main student finance application.