Thorntons Accountants

15/10/2026

The UK's economy grew by 0.1% in August, according to data released by the Office for National Statistics today. The increase was attributed to a boost in factory production, however, the services sector did not show any growth during the month.

Prediction-busting readings and upward revisions show "further strength" in the UK economy, according to the latest Office for National Statistics (ONS) figures.

13/10/2026

The International Monetary Fund has upgraded the UK's growth forecasts, but has indicated that higher energy costs and a possible interest rate rise could adversely impact the economy next year:

The prediction from the IMF comes as final preparations are being made for the first Budget under Prime Minister Andy Burnham.

08/10/2026

You'll soon find puffins, bumblebees, hedgehogs and barn owls making an appearance in your wallet! The Bank of England has confirmed that the animals will be appearing on its next series of banknotes. The designs, which were chosen by public vote saw more than 500,000 take part in the competition, with the bumblebee achieving the highest numbers of votes cast.

The Puffin, which finished third in its category was added to the range as the most popular marine animal, even though it received fewer votes than the kingfisher or fox. More information here:

The decision comes after nearly half a million people voted on a shortlist of 18 creatures.

07/10/2026

Since November 2025, it's been a mandatory legal requirement for new company directors to verify their identities with Companies House.

Last month, three directors received fines after refusing to verify their identities:

In rules brought in under the Economic Crime and Corporate Transparency Act 2023, directors are required to verify their identity with Companies House or risk enforcement action and penalties. Since 18 November 2025, newly appointed directors must verify their identity before acting as a director. E...

06/10/2026

Do you receive more than £30,000 per annum from renting property or running a side-hustle? If so you, you have just six months to prepare for the next phase of HMRC's roll-out.

From 6th April 2027, anyone receiving 'qualifying income' will need to keep digital records and submit quarterly returns using compatible software.

HMRC estimates that over a million people are likely to be affected by the changes. If you are unsure whether the new rules will apply to you, we can help you to prepare for the changes.

More information is available here:

Sole traders and landlords earning over £30,000 urged to get ready for Making Tax Digital.

01/10/2026

Several new tax changes have come into effect today. From 1st October, VAT will be removed from domestic electricity bills. New duties have also been applied to va**ng products - with £2.20 added to price to 10ml liquids. A similar increase has also been added to to***co products:

Most are set to see savings from today – but some could lose out

30/09/2026

During yesterday's speech at the Labour party conference, the Prime Minister said that Britain could rejoin the European Union - and that nothing was off the table when it came to improving trade relations with Europe:

PM says he is looking at all options and ministers will examine ‘what is doable’ and the ‘pros and cons’

25/09/2026

From September onwards, HM Revenue & Customs has said it intends to write to taxpayers who have not registered income tax via its Making Tax Digital platform.

Earlier this years, HMRC estimated that 864,000 sole traders and individuals who generate income vale property should have registered, but to date, it estimates that 294,000 have not yet joined the scheme - which also requires quarterly payments to be made.

More information here:

From September 2026, HMRC intends to write to taxpayers who need to use the Making Tax Digital for Income Tax (MTD for IT) service but who have not registered to let them know HMRC has signed them up on their behalf. HMRC will send letters confirming who needs to register for and use MTD for IT in t...

25/09/2026

📢 Administrative Assistant Required

We are looking for a motivated and organised Administrative Assistant to join our friendly accountancy practice.

Duties include: ✔ Answering phones and emails
✔ Greeting clients
✔ Organising appointments and diaries
✔ Preparing letters and documents
✔ Maintaining client records
✔ General office administration

What we're looking for:

Good communication skills
Attention to detail
Competent computer skills
Professional and friendly attitude
Previous administration experience helpful but not essential

📍 Location: Norton Lees, Sheffield
⏰ Hours: 2-3 days per week, school hours
💷 Salary: Dependant on experience

This would suit someone looking for a long-term role within a supportive and professional environment.

To apply, please send your CV to [email protected] or message us for more information.

Please feel free to like, share and tag anyone who may be interested.

24/09/2026

Business Confidence remains subdued - according to a new report published by the Institute of Directors (IoD):

A report carried out by the Institute of Directors (IoD) has revealed that business confidence remains 'subdued' as cost pressures on firms intensify. The business group's Economic Confidence Index, which measures optimism amongst business leaders in regard to prospects for the UK economy, fell to -...