Oaktree Accountants

03/07/2026

If your income is over £35,000, any Winter Fuel Payment you receive will be recovered through your tax.

If you’d prefer not to receive the payment, you can opt out.

Opt out by:
• 18 September 2026 (phone)
• 20 September 2026 (online)

You can opt back in if your circumstances change.

Find out more: https://ow.ly/ybAs50Zizw5

23/06/2026

Due to the exceptionally high temperatures and the lack of air conditioning throughout our office, we will be closing early this week at 3:00pm to ensure the wellbeing of our team. ☀️☀️

We apologise for any inconvenience this may cause and appreciate your understanding. We will resume normal business hours from next week.

Thank you, as always, for your continued support.

05/06/2026

📊 Staff Entertainment vs Business Entertainment – Do you know the difference?

It’s a common area of confusion for business owners, but getting it wrong can affect your VAT, corporation tax, and even employee benefits reporting.

👉 Staff Entertainment
This is where you’re rewarding or motivating your team – think Christmas parties, team socials, or staff events.
✔️ Usually tax deductible for corporation tax
✔️ VAT can often be reclaimed (with adjustments if guests attend)
⚠️ May create a benefit in kind for employees if rules are not met

👉 Business Entertainment
This relates to entertaining clients or non-employees.
❌ Not tax deductible for corporation tax
❌ VAT is generally not recoverable

👉 What about subsistence?
This is different again – it covers meals and accommodation when employees are travelling for work.
✔️ Tax deductible
✔️ VAT reclaimable on actual costs
✔️ Usually not a taxable benefit if rules are met

💡 The key test? Purpose

Feeding staff because they’re travelling = subsistence
Socialising or rewarding staff = staff entertainment
Hosting clients = business entertainment

Getting the classification right ensures your accounts, VAT returns and payroll reporting stay compliant ✅

For more guidance, see HMRC’s guidance here:
https://www.gov.uk/expenses-and-benefits-entertainment

📩 If you would like to discuss further please feel free to contact the office or your accounts manager.

Tax and reporting rules for employers providing entertainment for clients

27/05/2026

☀️ Great British Summer Savings – What Businesses Need to Know ☀️

The Government has announced a temporary VAT reduction from 20% to 5% on selected family entertainment and children’s activities this summer as part of the new “Great British Summer Savings” scheme.

From 25 June to 1 September 2026, the 5% VAT rate applies specifically to the following qualifying items:

- Attractions & Leisure: Admission tickets to zoos, theme parks, Museums, adventure parks , soft play and circuses. This applies to both adults and children 🎢

- Cinema & Theatre: Children's admission tickets to cinemas, theatres, concerts, and shows. 🍿

- Family Dining: Meals sold from a children's menu for consumption on the premises in restaurants and cafes. 🍔

Businesses operating in the hospitality, leisure and entertainment sectors should review their VAT treatment, pricing structures and till systems to ensure the reduced rate is applied correctly during the scheme period.

If you’re unsure whether your business or supplies qualify, please get in contact and the team will be able happy to help you accordingly 😊

22/05/2026

📢 Important Mileage Allowance Update 📢

The approved mileage allowance for under 10,000 miles has increased to 55p per mile, backdated to April 2026. 🚗

This update may affect:
✅ Employee expense claims
✅ Director reimbursements
✅ Business mileage records

Now is a good time to review your mileage processes and ensure records are up to date from April 2026 onwards.

If you have any questions about how this may affect you or your business, please get in touch with our team.

01/05/2026

Important Reminder📢📢

REMINDER: If your combined turnover from self-employment and property is over £50,000 in the 24/25 tax year, you’ll need to use recognised software, keep digital records from this month, and send quarterly updates (first deadline is 7 August). 📢

Act now and sign up for Making Tax Digital so you’re prepared. ⬇️

https://makingtaxdigital.campaign.gov.uk/?&utm_source=f.co_hmrcgovuk&utm_medium=social&utm_campaign=mtd

23/04/2026

⚠️Winter Fuel Payment Repayment Now Reflected in Tax Codes!!
💷Is your income over £35K? Your Tax Code Might Have Been Updated!!

💡Please read below.

Received a new tax code this month?

If you're over State Pension age with individual income above £35,000, it may have changed to include repayment of your Winter Fuel Payment or Pension Age Winter Heating Payment. This is expected and no action is required.

Find out more about what this means for you ⬇️

https://www.gov.uk/guidance/paying-back-the-winter-fuel-payment?&utm_source=f.co_hmrcgovuk&utm_medium=social&utm_campaign=wfp

🏴󠁧󠁢󠁷󠁬󠁳󠁿 Cymraeg

Ydych chi wedi cael cod treth newydd y mis hwn?

Os ydych chi dros oedran Pensiwn y Wladwriaeth ac mae gennych incwm unigol sy’n uwch na £35,000, efallai bod eich cod treth wedi newid i gynnwys ad-daliad ar gyfer eich Taliad Tanwydd Gaeaf neu Daliad Gwresogi Gaeaf Oedran Pensiwn. Mae hyn i’w ddisgwyl – nid oes angen i chi wneud unrhyw beth.

Dysgwch ragor am beth mae hyn yn ei olygu i chi ⬇️

https://www.gov.uk/guidance/paying-back-the-winter-fuel-payment.cy?&utm_source=f.co_hmrcgovuk&utm_medium=social&utm_campaign=wfp&utm_content=welsh

15/04/2026

⚠️ Warning for New UK Business Owners ⚠️

Letters demanding a fee (often around £270+) to publish your company’s legal information in a “public database” or “Companies House Register” are a scam targeting new businesses.

👉 Companies House does NOT charge a surprise fee for this. Official registration is either free or already paid during incorporation.

🚨 What to watch out for:

Official-looking letters with logos and QR codes
Requests for payment to names like “Company Registry” or “Companies House Register”

✅ What you should do:

❌ Do NOT pay
❌ Do NOT scan QR codes
📧 Report it to: [email protected]

💡 Real fees to know:

Confirmation statement: £50 online (£110 by post) via Companies House
You may also need to pay a separate annual data protection fee to the Information Commissioner's Office (ICO)

⚠️ Already paid?
Contact your bank immediately.

Stay alert and share this to help protect other business owners!

10/04/2026

Making Tax Digital for Income Tax is here. 📢

If your combined turnover from property and self-employment is more than £50,000, you’ll need act to start keeping digital records now as soon as possible.

Check if Making Tax Digital applies to you and sign up today. ⬇️

https://makingtaxdigital.campaign.gov.uk/?&utm_source=f.co_hmrcgovuk&utm_medium=social&utm_campaign=mtd

27/03/2026

🚨 New Changes from April 2026 – What You Need to Know 🚨

The new tax year is nearly here, and there are some important changes that could affect you or your business.

Minimum Wage increase:
📈National Living Wage (21 and over) increasing to £12.71
📈18-20 Year Old Rate increasing to £10.85
📈16-17 Year Old Rate increasing to £8.00
📈Apprentice Rate increasing to £8.00

Dividend income changes:
• Dividend tax rates increasing to:
🔹 10.75% (basic rate)
🔹 35.75% (higher rate)
🔹 39.35% (additional rate unchanged)

💻 Big change for sole traders & landlords:
• Making Tax Digital (MTD) starts from April 2026
• If you earn over £50,000, you’ll need to:
✔️ Keep digital records
✔️ Submit quarterly updates to HMRC

What’s NOT changing (but still matters):
• Personal Allowance remains frozen at £12,570

💡 What should you do?
Now is a great time to review your tax position and should you require further guidance on how these changes apply to you and how you can remain as tax efficient as possible, please feel free to get in contact.