Ross Boyd, founder and director of Belfast-based chartered accountancy firm RBCA, urges owner-managed businesses to prioritise tax planning and cash-flow management as 2026 begins.

“The New Year is traditionally a time for optimism and so it should be with reducing inflation, reducing interest costs, more clarity on taxes including the pre-Christmas changes to Agricultural Property Relief (APR) and Business Property Relief (BPR) which will benefit many owner-managed businesses in NI. That said, care is still needed. Planning ahead is not optional, but essential,” Boyd said.

He emphasises the importance of the 31 January self-assessment tax deadline, stressing, “This remains a critical moment for directors and self-employed individuals, not just to ensure compliance, but to analytically understand their tax position and cash-flow exposure for the year ahead.”

Boyd warns that fiscal drag, dividend tax changes, and increased company car benefit charges will impact business models, saying, “For owner-managed businesses moving forward into 2026, the challenge is twofold. On one hand, they face increasing external pressures including subdued demand due to a sluggish economy, and a challenging local labour market where the cost of talent often doesn’t directly correlate to competency and experience. On the other, there is a policy environment that offers limited incentives for growth while increasing the compliance burden.”

Recent APR and BPR changes, raising reliefs from £1m to £2.5m per person, also provide inheritance and succession planning opportunities. Boyd concludes, “The businesses that will come through 2026 strongest are those that plan carefully and act decisively. They will be the businesses that understand their numbers, engage early with advisers and remain agile enough to adapt as conditions change.”

Explore RBCA’s guidance on tax planning and reliefs to strengthen business resilience in 2026 in the full story.

Photo credits to RBCA’s official website