Peyton Tyler Mears Chartered Accountants

07/08/2026

Today marks the first major Making Tax Digital for Income Tax filing deadline.

While the quarterly submission itself only takes a few minutes, the reality is that the work behind the scenes has taken many months.

Over the last year we've been:
• Reviewing every client's position to establish whether they actually need to join MTD.
• Helping clients understand the new rules.
• Working through software updates and system changes.
• Navigating HMRC issues.
• Testing, troubleshooting and preparing for quarterly reporting.

The latest figures released by HMRC show that more than 500,000 taxpayers have now signed up to Making Tax Digital. However, with around 864,000 expected to be within the first phase, around 4 in 10 taxpayers were still not registered just before today's deadline.

This is one of the biggest changes to the UK tax system in years, and as HMRC has said, it's a marathon rather than a sprint.

Finally, one thing did make us smile...

Making Tax Digital is here, yet HMRC has confirmed it will be writing to taxpayers who haven't signed up... by post.

The irony isn't lost on us!

22/05/2026

Business mileage rates increase for the first time in over 15 years

From 6 April 2026, the approved mileage allowance for business journeys using personal vehicles will increase to 55p per mile for the first 10,000 miles.

The government also announced:
• Temporary 5% VAT on children’s meals
• Reduced VAT on selected family attractions over summer 2026

Affected businesses should review pricing systems and VAT settings ahead of implementation.

Announced: 21 May 2026.

15/05/2026

We’re really pleased to see the launch of Shiltons’ Silverlining, a new charity set up by Peter Shilton and his wife Steph to support people affected by gambling harm.

It’s a brilliant initiative focused on raising awareness, reducing stigma, and providing practical help for individuals and families dealing with addiction and financial difficulty.

You can find out more about the work they’re doing here: https://shiltonssilverlining.org

As accountants, we see first-hand how important financial wellbeing is, and it’s great to see a charity taking such a joined-up approach to both addiction support and financial recovery.

Peter and Steph Shilton are renowned in the UK and internationally for their extensive work around raising awareness of gambling harm. They have worked in reducing the stigma around gambling disorders and providing the necessary support to affected others.

01/05/2026