TAX PRESSURE MOUNTS FOR SMALL BUSINESS OWNERS AS AUTUMN BUDGET LOOMS

By Sinéad Campbell, Head of Money, Debt and Quality at Advice NI

The UK Autumn Budget, due to be delivered on 26th November, comes at a time when small businesses across Northern Ireland are already feeling the strain. With National Insurance Contributions set to rise and the Self-Assessment tax return deadline now less than 100 days away, many business owners are looking anxiously at their balance sheets and wondering how they’ll make it through another financial squeeze.

At Advice NI, we’re hearing from more and more small business owners - sole traders, tradespeople, and family-run firms - who say the cumulative effect of rising costs, slower payments, and now potentially new tax obligations will become unmanageable. For some, these extra pressures risk tipping them from “just about managing” into serious debt.

The problem isn’t just the size of the bills; it’s the timing. Fiscal deadlines don’t always align with trading reality. November and December can be tight months for cashflow, particularly for seasonal or service-based businesses. Many are still recovering from quieter periods or covering increased energy and stock costs ahead of Christmas. Add higher National Insurance Contributions into the mix, and the result is a perfect storm for financial stress.

The natural instinct when faced with mounting obligations is to push them to the back of your mind. But this rarely helps and can make things worse. Our advice is to face it early and plan ahead. Start by listing all your financial commitments and separating priority debts (such as tax, rent, business rates, and utilities) from non-priority debts like unsecured loans or credit cards. This simple step helps you see which payments need urgent attention to avoid serious consequences like court action, disconnection, or enforcement notices.

Equally important is keeping a close eye on credit control. Many small businesses struggle to chase invoices or manage late payments, and that directly impacts their ability to meet tax deadlines. Simple measures like issuing invoices promptly, following up consistently, and setting clear payment terms can make a real difference. These are the small habits that build financial resilience over time.

If you know you’re going to struggle to repay the tax you owe , don’t wait for things to escalate, contact HMRC before the deadline passes. You may be eligible for a “Time to Pay” arrangement, which allows you to spread payments over a more manageable period. Our Business Debt Advisers at Advice NI can support you through that process, helping you negotiate and communicate effectively, so you can focus on running your business rather than firefighting financial crises.

Each business operates under different circumstances. Some just need help structuring their cashflow, while others need urgent intervention. Whatever the case, our service is free, impartial, and completely confidential. We don’t judge - we listen, we plan, and we help you take back control.

With tax deadlines approaching and the Autumn Budget likely to bring further change, there has never been a more important time for small businesses to get professional quality advice. You’ve worked hard to build your business, so don’t let debt or uncertainty undo that progress.

If you’re worried about your business finances, contact Advice NI’s Business Debt Service on 0800 915 4604 or visit www.adviceni.net

The earlier you act, the more options you’ll have and the more confident you’ll feel heading into the next financial year.