Countdown to MTD

⏰ The countdown is officially on for Making Tax Digital (MTD) for Income Tax Self Assessment (ITSA), and the landscape for accountants is shifting dramatically. 4️⃣ Moving from annual filings to 4 quarterly submissions means a 400% increase in reporting deadlines for...

UK Mileage Rates

🚗 Mileage rate changes are finally here — and they matter more than people realise After 15 years without an update, the UK’s Approved Mileage Allowance Payment (AMAP) for cars and vans is increasing from 45p to 55p per mile for the first 10,000 business miles...

Lease Accounting Big Changes

Lease accounting is about to change in a big way. From 1 January 2026, the new FRS 102 rules kick in. By the time 2027 year‑end accounts are filed, almost every UK company will feel it. The old system — operating vs finance leases — is gone. The new system puts most...

Employing close family – tax efficient or tax trap?

Having a spouse or your children on the payroll of your business can be tax effect as long as HMRC will wear it. Where do you stand if the taxman challenges your claim for a tax deduction? Tax deductible or not A particular area of contention between businesses and...

Maximising deductions for furnishings and equipment

If you are a residential landlord and you are in the process of completing a tax return, and have expenses that include a new kitchen and replacing the washing machine in the property. Can these costs be offset against your rental income? Fixtures or furnishings? When...