Meet Kate, she set up a retail business in 2023, the business is successful and has grown very quickly. She is now looking to open additional sites to grow the business further.

The implementation of Dext and QuickBooks has improved efficiency with Kate’s finance processes. Kate’s business receipts are all uploaded to Dext or linked directly from the supplier so we have minimal bookkeeping queries. Suppliers are paid promptly meaning that the business benefits from the early settlement discounts as well as building great relationships with her suppliers.

When we get to the end of the VAT quarter the VAT return can be prepared promptly without any outstanding queries as they’ve been dealt with in real time, Kate knows exactly what she needs to pay and when. We can also prepare the statutory accounts just after the year end giving Kate peace of mind that all of the compliance side is dealt with swiftly and effectively.

Kate’s financial information is always available and accurate in real time meaning she can make important decisions quickly based on reliable figures. When the ideal premises becomes available she can “snap it up” as she is so on top of her finances.

It’s been a joy helping Kate on this journey and taking the financial stresses away for her. If you’d like to know how we can help you and your business please get in touch!

I often get asked how difficult it to change accountants… people think there’s lots of work involved and it’s a time consuming process… honestly it’s really not!

If you decide to change accountants, let your current accountant know that you’re changing and the new accountant will handle all of the rest for you. Information is passed from the current accountant to the new one (usually within a month though often sooner).

So if you’re looking for an accountant who will genuinely care about you and your business then get in touch, we can’t wait to hear from you!

Well, that’s it… the 1st of September has come round again! And this year it’s a particularly special one, as we’re celebrating some pretty amazing milestones for my fantastic team (along with a little bit of nostalgia from me, obviously!).

Today marks 10 years since Izzy began her career in accountancy and joined our team. Ten years is a long time (though it’s absolutely flown over), and it’s been such a privilege to have been part of that journey. Izzy has developed into a brilliant accountant, but more importantly, she remains one of the kindest, most thoughtful and hardworking people I’ve ever had the pleasure of working alongside. I’ve watched her learn, grow and develop over those 10 years and I couldn’t be prouder of the person and accountant she has become. ❤️

As if that wasn’t enough, today also marks 8 years since Becca began her accountancy career and joined our team. In those 8 years, Becca has grown into a brilliant accountant who takes real pride in looking after our clients and has become someone our clients and the rest of the team can always rely on. It’s been lovely to watch her confidence and knowledge grow and to see her become such an important part of the team. ❤️

We’re incredibly lucky to have both of them — not just because they’re brilliant at what they do, but because they’re genuinely lovely people who make the business what it is.

Last but certainly not least (although slightly later in the week!), we celebrate 5 years since Barbara joined the team. She’s become such an integral part of the business, and we’re so lucky to have her. She looks after the team and our clients alike and keeps everything moving behind the scenes. We genuinely couldn’t imagine Clarand without her!

Now for the nostalgia… (sorry, but you were warned!! 😂)

Today also marks 23 years since I started my accountancy career. Twenty-three years! Where has that gone?! In that time I’ve been incredibly fortunate to work with some amazing clients, build a business I’m incredibly proud of and, probably my favourite part of all, have the opportunity to help develop such a brilliant team.

Looking back, I feel very lucky indeed.

And we’re not finished yet… next month we’ll have some new members joining the team. 👀

Watch this space… there are plenty more exciting times ahead! 💜

We’re looking for a friendly, approachable and knowledgeable accountant/accounts senior to join our fabulous team.

The ideal candidate will have experience in practice preparing accounts for sole traders, partnerships and limited companies. It would be advantageous but not essential to have experience preparing VAT returns and/or payroll.

A good working knowledge of software packages such as QuickBooks, Xero, Free agent and Sage is essential. Experience of CCH accounts production would also be beneficial but not essential as full training will be provided.

We provide an excellent remuneration package, including private healthcare and increased pension contributions.

If you’d like to find out more, please contact [email protected]

HMRC have recently announced that they will phase the rollout of payrolling benefits from April 2027.

If you are an employer and you provide expenses and benefits to employees and directors, you must report these to HMRC and pay National Insurance on these benefits. Currently they are reported to HMRC using forms P11D and P11D(b). After the end of the tax year the taxable value of the expenses and benefits is calculated and reported to HMRC on forms P11D and P11D(b) by 6 July. The employer then pays the Class 1A National Insurance liability by 22 July.

This was due to change from 6 April 2027, where all benefits were to be reported via the payroll scheme, however, there has been a relaxation announced and this will now be introduced over a few years.

Phase 1 – From 6 April 2027

Employers providing employment benefits for company cars and vans, fuel and employer-provided medical benefits will need to report these via the payroll. The associated Class 1A National Insurance liability will also be due for payment at this time.

Phase 2 – From 6 April 2028

Most other benefits will be mandated for payrolling from 6 April 2028 with the exception of beneficial loans and accommodation benefits. Although these benefits can be payrolled on a voluntary basis.

Further guidance is due to be published to align with the Autumn Budget 2026.

HMRC is bringing in a new way to report your income. Starting in April 2026, taxpayers will be transferring to new Digital Services accounts.

Who is involved?

From April 2026 taxpayers who reported gross income over £50,000 from Self Employment and/or Property on their 2024/25 tax return will be required to keep digital records and submit quarterly submissions to HMRC.

This income threshold reduces to gross income over £30,000 reported on their 2025/26 tax return will transfer from April 2027.

Finally, in April 2028, taxpayers with gross income over £20,000 on their 2026/27 tax return will transfer from April 2028.

What does this mean?

From 6 April 2026, you will be required to keep digital records using MTD compliant software. This software will be used to submit quarterly updates to HMRC.

When are the submissions due?

 Checklist

☐        Have you linked your MTD software to HMRC?

☐        Do you have a dedicated account for all business transactions? If the account includes personal transactions these will need to be coded to ensure these figures are not sent to HMRC.

☐        Have you linked your business bank account to your software? Most software will connect to your bank feed and download your business bank transactions to the software.

☐        Have you started analysing your business income and expenditure using your software?

☐        Do you need any additional help preparing your quarterly submissions?

If you need help getting a system set up or would like us to deal with everything for you, just get in touch and we’ll be happy to help.

It was announced on Thursday that a summer support scheme is being implemented within the hospitality sector. This will be done through reducing the VAT rate from the standard 20% to 5% on children’s meals at restaurants, cafes, hotels and the other wider hospitality sector. The discounted rate will start from 25^th June and will end on 1^st September.

Ahead of this change, please ensure that your till items are updated/have the function to incorporate this so that you’re ready for the 25^th June. Any reports that are run from this date will need to show the correct VAT rating.

The guidance from HMRC on the reduced rate VAT is:

‘The reduced rate applies to the following categories of supplies where the conditions described are met: children’s meals, children’s cinema, theatre, show and concert tickets, and admission to certain attractions.

‘The reduced rate applies to the supply of children’s meals where both of the following conditions are met:

• the meal is held out for sale only as a meal for children
• the meal is supplied as part of catering services by a restaurant, café or similar establishment for consumption on the premises.

HMRC have stressed: ‘Where businesses have already accounted for VAT at the standard rate and subsequently choose to apply the lower rate, they should make the necessary adjustments in their VAT accounts. The government would expect that where a customer has prepaid that they would be refunded for any additional VAT paid.’

If you have any questions, please get in touch 😊

In an address on Thursday, Rachel Reeves has announced that the mileage rate for business trips while using a personal car has been increased from the current 45p per mile to 55p per mile. As previously, this is for the first 10,000 business miles in the tax year after which mileage is paid 25p per mile (the same rate as before). There is no change to the motorcycle rate.

This change is being backdated to 6 April 2026 so please ensure you are making any necessary amendments to already recorded mileage from the beginning of April.

Generally, you are only in the scope of UK CGT if you are resident in the UK. If you are UK resident then you a liable to CGT on disposals of assets located anywhere in the world not just those assets in the UK.

However, non-resident individuals are also liable to CGT on disposals of UK land and property.

Temporary non-residence

You will be classed as temporarily non-resident if all of the following apply:

• You have been resident in the UK for at least four out of the seven tax years prior to departure
• You leave the UK and become non-resident
• You then return to the UK after a period of non-residence lasting five years or less

If you are unsure whether you have a period of non-residence lasting five years or less, please contact us. This can be counter-intuitive to calculate and, depending on your circumstances, this period may not reflect the period you were physically outside the UK.

If you realise any gains or losses during a period of temporary non-UK resident they will become chargeable in the tax year you return to the UK. This is to prevent people from leaving the UK and disposing of an asset to avoid a charge to CGT on this disposal.

As a non-resident, when you make a disposal of all UK land and property you should report this to HMRC within 60 days of completion, even if there is no tax due on the disposal. If tax is due on the disposal, this is due for payment within 60 days.

Disposals of UK residential property by non-residents from 6 April 2015

From 6 April 2015 if you sold a UK residential property, then you were liable to be capital gains tax on the gain which accrued from 6 April 2015. You can choose how to calculate the gain on which the tax charge is based in one of three ways:

1. On the difference between the amount the property was sold for and its value as at 6 April 2015. You will need to establish the value of the property as a 6 April 2015.
2. On the difference between the amount the property was sold for and its initial cost and then time apportioning the gain such that the gain for the period from 6 April 2015 would be subject to tax.
3. If you sold the property for less than it cost, then you can calculate the loss over the whole period of ownership, however, the way you can use the loss is restricted.

When using options 2 or 3 an election needs to be made. If the property was your main home during ownership, private residence relief may apply to the chargeable gain calculated under options 1 or 2.

If the residential property was purchased after 1 April 2015, then the whole gain will be used when preparing your calculations.

Disposals of other UK land and property by non-residents from 6 April 2019

From 6 April 2019 the rules were extended to cover non-residential land and property. Although similar to the above you will only be liable to the part of the gain which accrued from 6 April 2019. You can therefore choose how to calculate the gain as follows:

1. On the difference between the amount the property was sold for and its value as at 6 April 2019. You will need to establish the value of the property as a 6 April 2019. Note that it is not possible to do a straight-line apportionment for gains on non-residential property.
2. If you sold the property for less than it cost, then you can calculate the loss over the whole period of ownership, however, the way you can use the loss is restricted.

If you choose to calculate the loss using option 2 you will need to make an election.

If the property was purchased after 1 April 2019, then the whole gain will be used when preparing your calculations.

Once you have ascertained the taxable gain as a non-resident you will need to complete the CGT return and pay the associated tax within 60 days of disposal.

If you then return to the UK after a period of temporary non-residence, you will need to check whether you have a UK CGT liability on the part of the gain which was excluded in the non-resident CGT calculations. This will become chargeable in the tax year of return to the UK.

Overseas Tax

Although tax is due in the UK on these disposals, the gain may still be chargeable in the country of residence. You will need to take tax advice in your country of residence.

If you are liable to tax in another country, you may be able to claim double tax relief.

Please get in touch if you have any questions about UK Capital Gain as a non-resident individual.

A round up of the changes to the tax rates and rules affecting businesses…

Capital Allowances: From 6 April for income tax and 1 April for corporation tax the main rate of capital allowances will reduce to 14%.

A new 40% first year allowance for main rate assets was introduced from April 2026 for businesses unable to full expensing.

The 100% first year allowance for zero emission cars and EV charge points was also extended to April 2027.

Corporation Tax Penalties: From 1 April 2026 the late filing penalties will be doubled. £200 penalty for missing the filing deadline and a further £400 for those over three months late. Three successive returns more than three months late will incur a penalty of £2,000.

Closure of Free HMRC Corporation Tax filing portal: Commercial software will be needed by all businesses needing to file company tax returns from 1 April 2026. This includes any changes or amendments to previously submitted corporation tax returns or any rejected returns.

Vehicle Excise Duty:  From 1 April 2026, the standard tax rate for all petrol, diesel or hybrid cars registered after 1 April 2017 rises to £200. For expensive cars, priced over £40,000 (£50,000 for electric cars) when new, the VED rate is £640.

Electric cars will pay a first-year rate of £10, then will pay the standard rate of £200.

Vans under 3,500kg will pay £360 per annum and Motorcycles between £27 and £125 depending on cc, with zero emission bikes paying the base rate.

Business rates: Following the revaluation of commercial properties most business will see an increase in rates. However, from 1 April 2026 permanently lower business rate multipliers will apply for retail, hospitality, and leisure properties with rateable values below £500,000,

For 2026/27 only, targeted support for pubs and live music venues in England will provide 15% business rates relief. No other hospitality venues are covered by the measure.