Posted 21/09/2026 HMRC have clarified the position on Self-Assessment tax return reporting requirements for directors of close companies and updated their guidance for directors of charities. A close company is a company that is owned or controlled by a small number of people, usually five or fewer shareholders. New requirements Additional reporting requirements for directors…Read More
Posted 07/09/2026 HMRC have confirmed that, from September 2026, they will sign up taxpayers who are required to use Making Tax Digital (MTD) for Income Tax for 2026-27, but who have not yet registered for the service themselves. They have now published guidance setting out the steps affected individuals should take. HMRC will automatically sign…Read More
Posted 02/09/2026 The tax rules on Benefits in Kind (BIKs) are changing. From 6 April 2027, Phase 1 of HMRC’s ‘Mandatory payrolling of Benefits in Kind and expenses’ comes into force. Phase 1 will apply only company cars, car fuel, vans, van fuel and medical benefits. Mandatory payrolling for most other benefits will be introduced from…Read More
It is with great sadness that we announce the passing of Bernard McNulty. Our thoughts and sincere condolences are with Bernard’s family.
Posted 03/08/2026 A shareholder’s agreement can be one of the most valuable documents a business ever puts in place. It allows a company’s owners to set out, in detail, how they will work together, make decisions, deal with disputes and manage future changes in ownership. When a business starts, everyone is positive and shares the…Read More
Posted 27/07/2026 Sole traders and landlords that are required to use Making Tax Digital (MTD) to report their earnings are due to send their first quarterly update by 7 August 2026. The quarterly update involves sending income and expenses for the first three months of the tax year to HMRC. After an update is made,…Read More
Posted 22/06/2026 The announcement of mandatory payrolling for Benefits In Kind was originally expected to start in April 2027, but following industry pressure, it will now be introduced in two phases. Phase 1 will continue to be rolled out from 6 April 2027, with Phase 2 starting a year later on 6 April 2028. The…Read More
Posted 15/06/2026 Companies House will introduce changes to accounts filing due to governmental reforms under the Economic Crime and Corporate Transparency Act 2023 (ECCT Act 2023). The changes will now come into effect from April 2028, rather than April 2027, to give companies more time to prepare. The reforms include requiring small companies and micro…Read More
Posted 03/06/2026 Companies House and the Intellectual Property Office (IPO) are asking businesses to take special care of misleading requests for payment sent by fraudulent organisations. Invoices are being sent to companies that request payment for Companies House and IPO services. They may be posted to a company’s registered office address or sent by email.…Read More
Posted 02/06/2026 The Chancellor of the Exchequer last week announced a 10p per mile increase in the tax-free mileage rate that applies to the first 10,000 business miles travelled in a car or van in a tax year. The increase, which has been backdated to April 2026, means that the rates for the 2026-27 tax…Read More
Posted 01/06/2026 The government has announced a temporary reduced rate of VAT for children’s meals in restaurants and family leisure activities over the summer. VAT will be reduced from 20% to 5% between 25 June and 1 September 2026 for qualifying activities as the government tries to ease pressure on household budgets and promote activity…Read More
The deadline for filing your 2025/26 personal tax return is not until 31/01/2027, but there are several benefits to filing early, including: If you would like help in preparing and filing your 2025/26 tax return, please do get in touch. We would be happy to help you! For further updates, please follow us at:
Posted 20/04/2026 With Making Tax Digital (MTD) for Income Tax coming into force from 6 April 2026, HM Revenue & Customs (HMRC) have been writing to taxpayers over recent weeks to tell them that they are being mandated into the regime. MTD became mandatory from 6 April 2026 for sole traders and landlords with a…Read More
Posted 13/04/2026 At one time, incorporating a business once profits reached a modest level was almost the default advice. Today, the conversation is more nuanced, and some existing company owners may even be asking themselves, “Do I still need a limited company?” The question may be prompted by rising tax bills caused by reductions to…Read More
Posted 07/04/2026 If you have been running a business for a while, maybe as a sole trader or in a partnership, you may have heard someone say, “You should incorporate”. Sometimes that is well-meaning advice, but is it true that incorporation is the smart move for all business owners? Let’s look at some of the…Read More
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