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Half of sole traders unprepared for looming tax reporting changes, new IRIS Software Group research shows

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1 year ago

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Almost half (45%) of UK sole traders are at risk of failing to comply with new tax legislation.Three quarters (76%) say that they feel they should be more aware of the changes.Awareness and preparedness declines with age, while younger generations are more likely to manage their finances using technology like third-party software.

LONDON, May 13, 2025 /PRNewswire/ — Nearly half (45%) of UK sole traders – representing approximately 1.4 million businesses* – report feeling unprepared for upcoming tax reporting changes, putting them at risk of non-compliance. That’s according to new research from IRIS Software Group**, who surveyed 1,000 UK sole traders.

Under the new Making Tax Digital rules, which mandate digital record-keeping and quarterly income tax updates starting April 2026, non-compliance can lead to significant penalties. These will likely match existing penalties for VAT non-compliance, which include fines of up to £400 for not using compatible software and £200 penalties for repeated late submissions, along with accruing interest charges for late payments.

Alarmingly, the study found that almost one in three (31%) sole traders have never heard of MTD, underscoring the urgent need for increased awareness and preparation to avoid potential financial repercussions.

MTD for Income Tax Self Assessment (ITSA) will require self-employed individuals, landlords and small businesses earning over £50,000 to keep digital financial records and submit quarterly updates using compatible software like IRIS Elements from April 2026. The threshold drops to £30,000 in 2027 and to £20,000 in 2028.

The changes could place a significant burden on business owners, who will be required to submit at least five  updates to HMRC each year. IRIS’ study suggested an anxiousness from sole traders, with three quarters (76%) of respondents telling IRIS they wished they were more aware of the requirements. Many sole traders pointed to a lack of awareness around the changes, with a third (34%) believing HMRC could have done more to proactively inform them. Almost three quarters (74%) of respondents told IRIS they would welcome more support and guidance from HMRC to help them navigate the changes.

Others were more relaxed, with nearly a third (32%) believing they should be more aware but plan on researching it in their own time, and 7% trusting their accountants to advise them at the appropriate time.

With less than a year to go, only 23% of sole traders believed they were very prepared for the requirements.

Mark Chambers, Managing Director at IRIS Accountancy, said: “These findings highlight an important moment of opportunity for the UK’s sole traders. With MTD just around the corner, there’s a real chance for businesses to modernise their financial processes, unlock efficiencies, and gain better visibility of their income and expenses.

“It’s encouraging to see that nearly a quarter feel ready to meet the requirements, but that leaves a significant portion not experiencing the benefits of digitalised tax reporting that compliance will bring.”

Generations divided over digital accounting

Younger sole traders were more likely to feel very prepared for the forthcoming requirements and expressed greater optimism about the changes compared to older respondents. This generational divide may reflect broader attitudes toward digitalisation — with MTD representing just the first step in the government’s wider push to modernise and digitise tax and accounting processes in the years ahead.

Nearly two in five (37%) of 25–34-year-olds felt they were very prepared for April 2026, compared to 23% of those aged 35-44, and only 10% of 45–54-year-olds. Following the trend, nearly two thirds (64%) of those aged 25-34 felt the changes would have a positive impact on their approach to filing taxes, compared to 48% of those 35-44 and only 30% of respondents aged 45-54.

Younger generations were the most likely to be using third party software for managing their taxes, and the least likely to be using paper-based filing systems, highlighting the link between technology and compliance.

Overall, more than half (56%) agreed that MTD will support their budgeting and help them to avoid surprises when paying their tax bill, with younger sole traders even more likely to agree. Respondents overall were also more likely to agree than disagree that MTD changes would have a positive impact on their costs.

Mark Chambers continued: “It’s particularly promising to see younger sole traders already embracing digital tools. That trend signals real momentum for a wider transition to more efficient, tech-enabled ways of working. The next step is making sure everyone, regardless of age or experience, has access to the knowledge and resources they need to move confidently towards compliance.

“As an HMRC-recognised software provider for Making Tax Digital, IRIS is well-positioned to support both sole traders and accountants on their journey to compliance. With intuitive tools and expert guidance, we’re here to help users not only meet regulatory requirements but also embrace the wider benefits of digital bookkeeping – from improved accuracy to greater efficiency.”

For more information, visit IRIS’ MTD hub.

*Based on 3.1 million sole traders operating in the UK

**A poll of 1000 UK sole traders aged 18+ completed independently by Censuswide, commissioned by IRIS, between the 9th April 2025 and 15th April 2025.

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Vantrue Announces Early Black Friday Sale with Up to 44% Off Select Dash Cams

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2 hours ago

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October 25, 2026

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November 1–21, 2026 | Official Website: Vantrue.com

SHENZHEN, China, Oct. 25, 2026 /PRNewswire/ — Vantrue, a dash cam brand dedicated to helping drivers capture the road with confidence, is launching its three-week Black Friday campaign from November 1 to November 21, 2026. The event brings together discounts of up to 44% on selected dash cams, a 100% win-rate prize wheel for subscribers, and exclusive bidding events, giving drivers multiple ways to discover and save on Vantrue products.

Every Eligible Spin Wins a Prize

The Black Friday excitement starts with Vantrue’s 100% win-rate spin wheel. Visitors can subscribe through the official website and spin for a chance to receive exciting rewards, including the latest Vantrue dash cams, special prize bundles, and other surprises. Each subscriber is eligible for one spin during the campaign.

Black Friday Deals in Two Waves

Vantrue’s Black Friday offers will roll out in two waves, featuring discounts on selected dash cams for everyday drivers, rideshare professionals, and those looking to upgrade their in-car recording setup.

Wave 1: November 1–10, 2026

Vantrue E1 Lite: 36% off — $69.99 (regular price: $109.99)
 Vantrue N2X: 36% off — $159.99 (regular price: $249.99)
 Vantrue N4S: 44% off — $199.99 (regular price: $359.99)
 

Wave 2: November 11–21, 2026

Vantrue E1 Pro S: 35% off — $129.99 (regular price: $199.99)
 Vantrue N5S: 36% off — $293.99 (regular price: $459.99)
 Vantrue N4 Pro S: 40% off — $279.99 (regular price: $469.99)
 

Exclusive Bidding Events Add More Excitement

In addition to the promotional pricing, Vantrue will host two special bidding events, offering participants another way to pursue selected dash cams at competitive prices.

BID #1: November 5–7, 2026 — Bid on featured products for a chance to secure them at a lower price.BID #2: November 12–14, 2026 — Return for another opportunity to bid on premium models.

With multiple ways to participate throughout the three-week event, Vantrue’s Black Friday campaign combines savings, interactive rewards, and special shopping opportunities in one destination.

Join Vantrue’s Black Friday Event

From November 1 through November 21, 2026, drivers can explore the latest offers, take part in the prize wheel, and join the bidding events through Vantrue’s official website.

Visit https://www.vantrue.com/ for campaign details and product offers.

About Vantrue

Founded in 2015, Vantrue is a leading global dash cam brand dedicated to providing intelligent, reliable, and user-centric driving solutions. With a focus on innovative technology, dependable performance, and user-friendly design, Vantrue develops dash cams for everyday drivers, families, and professionals on the road. Committed to helping drivers capture every journey with greater confidence and peace of mind, Vantrue continues to innovate to make every drive safer and every moment worth capturing.

Media Contact
Vantrue Media Relations
Email: support@vantrue.net
Website: https://www.vantrue.com

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LexisNexis Coplogic Solutions Introduces Field Clarity for LexisNexis® Desk Officer Reporting System (DORS) at IACP 2026

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5 hours ago

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October 25, 2026

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A new, modern DORS and Field Clarity, the First AI-Guided Smartphone Video Assistant, Enhances Community Experience and Helps Improve Evidence, Case Building

ORLANDO, Fla., Oct. 25, 2026 /PRNewswire/ — LexisNexis® Coplogic™ Solutions today announced its modernized LexisNexis® Desk Officer Reporting System (DORS) community online reporting solution and the addition of DORS with Field Clarity, an AI-guided video assistant designed to improve field documentation accuracy and enable faster resolution by law enforcement agencies (LEAs). Field Clarity is designed to help community members submit reports to their local LEAs using DORS via intuitive step-by-step instructions. A hands-on experience for DORS with Field Clarity will be available for demonstration during the 2026 International Association of Chiefs of Police (IACP) annual conference.

“Agencies generally look to strategic partners like us not just for technology, but also for relief, reinforcement, and credibility across three tightly connected challenges: public expectation, workforce strain and digital evidence overload,” said Jason LaRue, associate vice president, LexisNexis Coplogic Solutions. “Our modernized LexisNexis Desk Officer Reporting System (DORS) helps agencies improve officer safety along with community member experiences. Field Clarity strengthens video evidence quality and digital evidence management to reduce friction and alleviate strain on a challenged workforce.”

Key Highlights
Integrated into LexisNexis® Desk Officer Reporting System (DORS), Field Clarity is the first AI-Guided video assistant for community member online reporting that:

Transforms data capture from passive intake into intelligent, guided capture to help create more positive officer and civilian mobile-first experiencesDrives more accurate field documentation, evidence and case building to help with faster resolution and enhanced public safetyBenefits civilians submitting reports with intuitive, step-by-step instructions, almost like having a digital assistant with them in real timeBenefits officers by bringing video, photos and scanned data together for a clearer picture of an event without the need to track down additional details

How the DORS with Field Clarity Solution Works
DORS allows each law enforcement agency to collect information directly from civilians on more than 200 incident types based on the needs of their community. DORS and Field Clarity make the filing of an online report experience easier by guiding users intuitively through each step of the process on their smartphone device, similar to having a personal digital assistant. Instead of asking a driver, for example, to fill out forms and guess what’s needed, the Field Clarity conversational interface prompts them to scan their driver’s license, capture a VIN or record a short walkaround video explaining what happened during the incident, all while capturing the data necessary to complete the report.

For civilians, being able to easily film on-scene evidence means less confusion and need for reentries or follow-up by the sworn officer responsible for approving reports. For officers, the benefits include cleaner, more complete accident reports and less time spent requesting and gathering additional details. With reports fed directly into the agency’s Record Management System (RMS), law enforcement also benefits from more efficient workflows and stronger documented cases for their investigators. DORS is used by nearly 600 agencies in North America, saving agencies approximately 900,000 personnel hours and $90 million annually*

“Trust in law enforcement is built one interaction at a time. Every opportunity for a community member to engage with their police department matters, including something as routine as filing a report,” said Sarah E. Connolly, co-founder of Guardian Communications, FBI-LEEDA instructor and retired Baltimore Police lieutenant and PIO. “When technology makes that process easier, improves the quality of information collected and supports a more responsive agency, it has the potential to do more than improve efficiency. It can help strengthen the relationship between law enforcement and the communities they serve.”

LexisNexis Coplogic Solutions delivers solutions and capabilities that can create a clearer line of sight from the field to law enforcement leadership, strengthening the connection between daily operations, workforce support, data management and community trust. DORS with Field Clarity is available through LexisNexis® Command Center, a single access point to the LexisNexis Coplogic Solutions data and analytics solutions suite, including LexisNexis®  BuyCrash®, LexisNexis® eCrash and LexisNexis® eCitation solutions. Coplogic Solutions also offers Unified Performance Dashboards for crash and citation mapping and illustrated visualizations, which connect field data with contextual insight in a single, coherent view – so law enforcement leaders can better understand and more confidently explain to their communities not just what is happening in near-real time, but also why. 

To speak with Coplogic law enforcement experts about LexisNexis Desk Officer Reporting System (DORS) with Field Clarity and experience the solution firsthand, visit LexisNexis Coplogic Solutions at IACP Booth #941, October 24 – 27, 2026 in Orlando, Florida. To learn more, check out this video: LexisNexis® Desk Officer Reporting System (DORS).

About LexisNexis Risk Solutions
LexisNexis® Risk Solutions provides customers with information-based analytics and decision tools that combine public and industry-specific content with advanced technology and algorithms to assist them in evaluating and predicting risk and enhancing operational efficiency. Headquartered in metro Atlanta, Georgia, the company has offices throughout the world, serves customers in more than 190 countries and territories and is part of RELX. For more information, please visit LexisNexis Risk Solutions.

About LexisNexis Coplogic Solutions
LexisNexis® Coplogic™ Solutions is committed to meeting law enforcement agencies where they are on the road to saving more lives and helping take them where they want to be by delivering an innovative full suite of data sophistication solutions to create workflow efficiencies while delivering world-class crash and citation data and analytics visualizations through advanced technology. Our proven solutions, developed by and specifically for law enforcement, can help agencies operate more effectively, increase services to their communities and improve traffic and overall public safety through electronic, mobile-first authoring capabilities, web-based eCommerce solutions, analytics and more. For more information, please visit risk.lexisnexis.com/Coplogic.

Media Contacts: 
Chaz Abbott
LexisNexis Risk Solutions
chaz.abbott@lexisnexisrisk.com
+1 949.922.1167

*Based on a 2025 LexisNexis Coplogic Solutions internal study

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SOURCE LexisNexis Risk Solutions

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World Young Scientist Summit 2026 Opens in Wenzhou, Zhejiang

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5 hours ago

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October 25, 2026

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WENZHOU, China, Oct. 25, 2026 /PRNewswire/ — A news report from China Daily:

On October 24, the World Young Scientist Summit 2026 opened in Wenzhou, Zhejiang. The event is hosted by the China Association for Science and Technology (CAST), the Zhejiang Provincial People’s Government, and the World Association of Young Scientists. Nearly 800 representatives, including scientists, educators, and entrepreneurs from more than 60 countries and regions, are attending the summit.

With the theme “Gathering Talents Worldwide to Create a Better Future,” the summit’s annual agenda is “Global Youth Action in the AI Era: Building a Sustainable Future.” It aims to draw on the insights of young people around the world, deepen international sci-tech cooperation, and jointly address questions about young people, science, the world and the future.

Delivered keynote speeches respectively on education reform in the AI era, AI and processor chips, young women scientists’ participation in science, and quantum computing. They explored new opportunities for scientific research, talent cultivation, and international cooperation in the AI era.

This year’s summit placed greater emphasis on the growth needs of young scientists, with young talents under the age of 45 accounting for 88 percent of participants. It aimed to build a cluster of international journals, bring together young scientific talent, facilitate a batch of international collaborative projects and advance the application and commercialization of scientific and technological achievements. The summit released the Report on the Distribution and Mobility of Young Scientists in the Field of Embodied Intelligence, launched the World Young Scientist Summit Partner Journal Program and the 2026 World Young Scientist Innovation and Entrepreneurship Growth Support Program. It also published the “Young Scientist Pioneers 2035” list and announced the 2026 Sustainable Development Young Scientist Award. The awards were presented to four Chinese and foreign scientists.

In addition, the conference focused on fields such as future manufacturing, quantum information, embodied intelligence, brain-computer intelligence, environmental science, deep-sea resources, and life and health, and held 12 parallel forums. It also included the “Gravitation π” Future Technology and Concept Products Exhibition and Exchange, local thematic side events, and sci-tech and humanities study visits, further building an interdisciplinary, cross-regional and cross-sector platform for youth sci-tech exchange and cooperation.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/world-young-scientist-summit-2026-opens-in-wenzhou-zhejiang-302918767.html

SOURCE China Daily

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