Onyx Accountants and Business Advisors

08/10/2026

Key takeaway - If you’re a medical professional who receives this letter, it shouldn’t be ignored. You should review the tax returns and consultancy income, respond to HMRC within the 30- day deadline 📮📩

05/10/2026

Opted to tax a commercial property? But now wondering if you can undo it?

Once you’ve opted to tax, you can’t simply change your mind whenever you like.

There are specific circumstances when an option can be revoked, including certain situations within the first six months, after six years and potentially after 20 years

02/10/2026

UK importers, get ready: a new carbon tax on certain goods starts in 2027. Could this reshape how businesses trade carbon-heavy products? Read on to see if it affects you.

Businesses importing certain carbon-intensive goods into the UK will face a new carbon tax from 1 January 2027, when the Carbon Border Adjustment Mechanism (CBAM) comes into effect. CBAM will apply

01/10/2026

HMRC is reaching out to trustees about possible errors in trust tax returns. If you get a letter, double-check your details and act accordingly. Read on to find out why this matters and what you should do next.

HMRC is contacting some trustees after identifying possible errors in recent Trust and Estate tax returns relating to the type of trust being reported. The latest HMRC compliance campaign focuses on

30/09/2026

Think your company is dormant?

Stopping trading doesn’t automatically mean you’ve got nothing left to deal with.

A company can be dormant for corporation tax if it has stopped trading and has no other income - but activities such as receiving interest, renting property or even advertising can affect its status.

And remember: dormant for corporation tax doesn’t mean dormant at companies house

30/09/2026

Millions of adults in the UK haven't checked their State Pension forecast — could you be missing out on key info? Find out why it matters now and how easy it is to check your forecast online or through the HMRC app. Give your retirement planning a quick health check today. Read on to see what you need to know.

A new press release from HMRC is highlighting the fact that almost 7 million UK adults could be heading towards retirement without knowing how much State Pension they may be entitled to. New research

29/09/2026

Could your next UK holiday cost a little more? Some areas in England might soon add a tourist tax based on accommodation costs. Local leaders will decide if and how it's applied, aiming to fund public projects close to home. Wonder what that might mean for your travel plans? Find out why this change could be on the horizon.

Mayors and local leaders in England are to be given powers to introduce an overnight visitor levy, creating a new charge for people staying in short-term visitor accommodation. The government

28/09/2026

Alert: HMRC is sending out 1.8 million Simple Assessment letters soon. If you get one, it could impact how you pay tax on pensions or extra income. Find out why it matters and what you need to check right away.

Some taxpayers have already started to receive Simple Assessment letters from HMRC for the 2025-26 tax year, with a further tranche due to be sent between October and December 2026. Simple Assessment

24/09/2026

Following a consultation that closed on 28th August 2026, the government is considering allowing HMRC to recover certain lower value tax debts through affordable monthly deductions directly from UK bank or building society account

If you have a tax debt you can’t pay, don’t ignore it.

Need help with dealing with a tax liability? Get in touch with onyx

15/09/2026

Depending on your circumstances, you may be able to:

💵 Set the loss against income from the current or previous tax year
🧾Potentially recover tax you’ve already paid
🔮Carry the loss forward against future profits from the same trade

However, loss relief comes with rules and restrictions, so it’s important to look at your individual circumstances before deciding how to use the loss