Charlton Baker

16/07/2026

The first Making Tax Digital submission deadline arrives on 7 August 2026, marking a significant change in how many sole traders and landlords report their income to HMRC.

Although HMRC won't issue penalty points for late quarterly submissions during 2026/27, now is the ideal time to establish good digital record-keeping habits and regular bookkeeping processes.

At Charlton Baker, we see MTD as more than a compliance exercise. Done well, it can provide greater clarity, improve financial visibility and help business owners plan with confidence.

Have you started preparing for MTD yet, or are you still working through what the changes mean for your business? We'd be happy to help.

Prepare for your first Making Tax Digital quarterly deadline. Learn key dates, requirements, and how Charlton Baker can help you stay compliant and stress-free.

15/07/2026

Could your savings be creating a tax bill?

Many people assume savings interest is tax-free. But with higher interest rates, more savers are now exceeding their available allowances without realising.

Your Personal Allowance, Starting Rate for Savings and Personal Savings Allowance could all help reduce or eliminate tax, depending on your circumstances.

A quick review now could help you avoid an unexpected bill later.

Rising interest rates could mean more tax on your savings. Learn how allowances work and when you might face a tax bill, plus how to stay tax-efficient with Charlton Baker.

14/07/2026

Running a business comes with enough challenges without leaving legitimate tax relief behind.

Whether it's marketing costs, professional fees, travel expenses or working-from-home costs, every allowable expense claimed correctly can make a difference to your year-end tax position.

One area we often see business owners struggle with is mixed-use expenses. If something is used for both business and personal purposes, only the business element can be claimed. Getting those calculations right is essential.

Good record keeping, proactive planning and understanding the rules can help you stay compliant while making sure you're not paying more tax than necessary.

Discover which business expenses you can claim and how to reduce your tax bill. Charlton Baker explains allowable costs, home working claims, and tax-saving tips for the self-employed.

10/07/2026

Employee loans can be a great way to support your team, but they can create tax issues if not set up correctly.

If interest is below HMRC’s 3.75% rate, a taxable benefit may arise. Key exemptions include:
- Loans under £10,000
- Charging a commercial rate
- Certain qualifying loans

A quick review now can prevent unnecessary tax exposure later.
Find out more:

Learn how HMRC taxes employee loans, when a benefit-in-kind arises, and key exemptions. Expert guidance from Charlton Baker on staying compliant.

09/07/2026

Don’t let July’s deadlines catch you out.

If you provide benefits in kind - like company cars, private medical insurance or loans - there’s a good chance you’ll have Class 1A NICs to pay.

Key dates to have firmly on your radar:
• 6 July - P11D & P11D(b) submission deadline
• 19 July - postal payment deadline
• 22 July - electronic payment deadline

Miss these, and HMRC will automatically apply penalties and interest.

It’s a straightforward obligation, but one that’s easy to get wrong, especially where more complex benefits or termination payments are involved.

If you’re unsure whether everything is covered, we’re here to help you get it right first time.

02/07/2026

Company mobile phones are one of those everyday benefits that can easily be overlooked, but the tax treatment matters.

The key rule is simple: if the phone is provided by the employer and the contract is in the company’s name, the benefit is typically fully tax-free, even with personal use.

Where things get more complex is with reimbursements. If an employee takes out their own contract and the business pays them back, those payments can quickly become taxable, with potential P11D reporting and National Insurance implications.

For many businesses, a small change in setup can improve both efficiency and compliance.

Key HMRC rules on employer-provided mobile phones, when exemptions apply, and where tax and National Insurance liabilities can arise.

01/07/2026

Dividend income can look simple, but the tax position often isn’t.

For 2026–27:
- £12,570 Personal Allowance
- £500 Dividend Allowance
- Tax rates of 10.75%, 35.75% and 39.35%

Because dividends sit on top of your other income, even relatively small amounts can push you into a higher tax band or change how much tax you pay overall.

This is where proactive planning makes a difference. Structuring income the right way can protect more of what you earn.

If you want a clear view of where you stand, we’re here to help.

Learn how dividend tax works for 2026–27, including allowances, rates and reporting requirements. Expert guidance from Charlton Baker.

30/06/2026

Companies House is becoming far more proactive, and that’s a shift businesses shouldn’t ignore.

With new powers now in use, expect:
- Greater scrutiny of filings
- Queries on incorrect information
- More enforcement activity

The takeaway is simple: accuracy and compliance matter more than ever.

If you’re unsure where you stand, it’s worth reviewing things sooner rather than later.

Companies House is increasing enforcement under new legislation. Learn what this means for your business and how to stay compliant with expert guidance from Charlton Baker.

25/06/2026

LLPs offer flexibility, but when it comes to tax treatment, the detail matters.

HMRC’s salaried member rules are designed to identify 'disguised employment'. Where a member has limited influence, low financial risk, and receives largely fixed income, they may be taxed as an employee.

That means:
• PAYE applies
• Employer and employee NICs are due
• Additional compliance responsibilities for the LLP

The good news? With the right structure, many LLPs can ensure these rules don’t apply.

At Charlton Baker, we help businesses take a proactive approach - aligning remuneration, capital and governance to support both compliance and growth.

Understand HMRC’s salaried member rules for LLPs, including the three-part test and tax implications. Expert guidance from Charlton Baker.

24/06/2026

Selling shares or investments? Understanding Capital Gains Tax (CGT) can make a real difference to how much you keep.

A few key things to keep in mind:
- The first £3,000 of gains is tax-free each year
- Tax rates vary depending on your income band
- Joint ownership can help utilise multiple allowances
- Losses can be carried forward to offset future gains

Planning early can help you avoid unnecessary tax and make smarter decisions around when and how you sell.

If you’re unsure how CGT applies to your situation, we can help you navigate it with clarity and confidence.

Understand Capital Gains Tax on shares and investments in the UK including CGT rates, allowances, exemptions and how to reduce your liability with expert advice.