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?

Quarter end date	Submission Date
30 June/5 July	7 August
30 September/5 October	7 November
31 December/ 5 January	7 February
31 March/5 April	7 May

 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.

With the start of a new tax year brings a few changes to the tax rates and rules.

Frozen Tax Thresholds: Personal allowance will remain at £12,570 until at least 2031. Higher rate will start at £50,270 and additional rate at £125,140 for England, Wales and Northern Ireland. The thresholds for Scotland are personal allowance £12,570, starter rate up to £16,537, Scottish basic rate up to £29,526, intermediate rate up to £43,662, higher rate up to £75,000, advanced rate up to £125,140 with top rate over £125,140. 

Savings Tax: Savings allowances are unchanged at £1,000 for basic rate, £500 for higher rate and £0 for additional rate

ISAs: Maximum ISA savings is £20,000 for cash ISAs or stocks and shares ISAs. From April 2027, this limit will remain for stocks and shares ISAs and cash ISAs for over 65s. However, for under 65s the maximum cash savings will reduce to £12,000.

Dividend Tax: Tax rates increase to 10.75%, 35.75% and 39.35%.

State pension: The ‘new state pension’ rate rises to £241.30 a week or £12,547.60 a year.

Child benefit: Payments are increasing to £27.05 per week, equivalent to £1,406.60 a year for the eldest or only child, and to £17.90 per week – £930.80 a year – for subsequent children.

Tax relief for homeworking costs: From April 2026, the flat rate claim of £6 per week will only be available where this is a payment made by the employer.

Venture capital trusts (VCT): Income tax relief reducing to 20% of the investment with a maximum investment of £200,000.

Enterprise investment schemes (EIS): Gross asset test for non-Northern Irish companies will double to £30 million.

VCT and EIS: Qualifying companies can raise up to £10 million in a 12-month period. The threshold for gross assets before allotting shares has increased to £30 million. Annual investment limit increases to £10 million (£20 million for knowledge intensive companies) and lifetime investment limit increased £24 million (£40 million for knowledge intensive companies)

Business asset disposal relief: BADR tax rate increased to 18%.

Making Tax Digital for Income Tax: The first wave of taxpayers will move to quarterly reporting from 6 April 2026. Sole traders and landlords with qualifying gross income over £50,000 on their 2024/25 tax return will move to the new system.

Directors’ loan tax charge: For loans made on or after 6 April 2026 the tax charge will increase to 35.75%.

Enterprise management incentives (EMI):  Can be used by independent quoted or unquoted companies with group gross assets of £120m.

Construction industry scheme (CIS):  From 6 April will be required to complete monthly CIS returns even where no subcontractor is paid.

Inheritance Tax: No change to the nil rate band of £325,000 and additional residential nil rate band of £175,000. However, privately owned businesses and farmers will see changes to business property relief (BPR) and agricultural property relief (APR). The threshold for 100% relief is set at £2.5 million. Amounts over this will get 50% relief therefore IHT will be paid at a reduced rate of 20%.

 

 

UK Residents who sell UK residential property may need to submit a tax return and pay the associated tax due on the disposal of UK residential property within 60 days of completion.

Since 6 April 2020 a UK resident taxpayer with a CGT liability is required to report and pay capital gains tax due on disposals made. Initially the returns and tax were due within 30 days of completion, from 27 October 2021 this deadline was extended to 60 days after completion. If you have made a chargeable gain you will need to submit a CGT return by the due date, even if you intend to include this on a self-assessment tax return at a later date.  If you do not report and pay on time, interest and penalties will be due. If your property was jointly owned, you will need to report your own gain or loss.

To work out your gain

Capital Gains tax is due on any profits you make when you sell an asset, e.g. if you bought a property for £200,000 and sold it for £250,000, you’ve made a gain of £50,000 on the property you will pay capital gains on this amount, less any deductions available to you.

Allowable Expenditure

When calculating the taxable gain on your property you can deduct certain other costs. These include stamp duty, estate agent costs, solicitors’ fees, along with improvement costs, e.g. an extension or conservatory. You cannot deduct expenses related to the general upkeep of the property or any amounts relating to the mortgage on the property.

Tax Reliefs

You may also be eligible to claim various tax reliefs the most common for residential property is Principle Private Residence (PPR) Relief. If the property you are selling is your main residence, it will be exempt from CGT due PPR relief. To qualify as your main residence all of the following must apply:

• You have one home and you’ve lived in it as your main home for all the time you’ve owned it
• You have not let part of it out (not including having a lodger)
• You have not used a part of your home exclusively for business purposes
• The grounds, including all buildings, occupy less than 5,000 square metres
• You did not buy it just to make a gain

If all of the above apply, you will qualify for principle private residence relief and you will not have to pay any CGT on the disposal. However, if one or more of the above conditions applied then you may have some CGT to pay. Please get in touch and we can help you determine your CGT liability.

Losses

If you have made losses on previous capital disposals these can also be set against the remaining gain.

Each year a taxpayer has an annual exempt amount to be used against any capital gains made during the year. In the current year, 2025/26, the exemption is £3,000.

Calculating your CGT liability

Once you have calculated your taxable gain, you will then need to calculate your CGT liability. To complete this you will need to estimate your other taxable income for the year to ascertain how much of your basic rate band is remaining. If the gain is within your basic rate band this will be charged at 18%. If you are a higher or additional rate taxpayer this will be charged at 24%.

Report and pay online

To complete the CGT return, you will need to use the Capital Gains Tax on UK property account. This is a standalone account and does not link directly to your self-assessment account. From this account you can complete your CGT return, appoint an agent to complete the CGT return on your behalf, and pay your CGT liability.

Please note that separate rules apply to non-UK residents.

If you have sold  UK residential property, please get in touch and we will give you a quote to complete your CGT Return.

 

The National Minimum Wage is the minimum pay per hour almost all employees are entitled to be paid by law. The rate changes dependant on age and whether the employee is an apprentice. From 1 April 2026 the National Minimum Wage is set to increase as detailed in the table below:

Category of worker	Hourly rate
National living wage (aged 21 and over)	£12.71
18-20 year old rate	£10.85
Under 18 year old rate	£8.00
Apprentice rate	£8.00

As always, if you have any questions please get in touch!