Hancock & Hastings Accountants Dunstable

20/07/2026

Everyone knows Gary has a bit of a trainer obsession...

There's always a new pair on the horizon.

A conversation recently went something like this...

Gary: "Can I buy these as a trivial benefit?"

Amy: "They're £125, Gary."

Gary: "Okay... what if I buy three £50 vouchers instead?"

Amy: "No. Cash and cash vouchers don't qualify."

Gary: "What if I buy them as a reward for all the hard work I do?"

Amy: "Then it's a bonus, not a trivial benefit."

Gary: "What if I wait until they're on sale?"

Amy: "If they cost £50 or less and all the other conditions are met... then we can have a conversation."

Gary: "I've already found another pair..."

Unfortunately for Gary, the trainers he has his eye on are still well over the £50 limit.

That said, trivial benefits are a genuine tax exemption that many business owners don't know about.

If you operate through a limited company, you may be able to provide certain small gifts without creating a tax liability, provided they:

✔️ Cost £50 or less.
✔️ Aren't cash or cash vouchers.
✔️ Aren't given as a reward for work or performance.
✔️ Aren't included in a contract of employment.

If you're a director of a close company, separate rules and annual limits can also apply.

Gary might have to keep saving for his next pair of trainers, but there are plenty of other ways this exemption could be useful.

If you're wondering whether something would qualify, we'd be happy to talk it through.

18/07/2026

I'm currently at Dunstable Party in the Park, the kids are burning off energy, the sun has remembered it's summer, and Black Lace are proving that absolutely nobody is ever too old for a bit of cheesy music. 😂

Honestly, events like this make you realise how much goes on in our town. There are so many people working behind the scenes to put on things for children, families and those of us who are still pretending we're not singing along to Agadoo.

A massive shout out to everyone involved. It's brilliant to see so many people out enjoying themselves and making the most of what our local community has to offer.

Now if you'll excuse me, I've got some very important nostalgic dancing to get back to... 🎤🎉

17/07/2026

If you pay employees or operate within the Construction Industry Scheme (CIS), here's a quick reminder.

Payments for the tax month ending 5 July 2026 are due to HMRC by 19 July if you pay by post, or 22 July if you pay electronically.

If you're unsure, or you'd like someone to sense-check your figures before you make your payment, just get in touch. That's what we're here for 💙

14/07/2026

Watching Happy Mondays at this weekend got us thinking…

When you’re standing in a festival crowd, it’s easy to think you’re seeing the whole picture.

The band walks on stage.
The lights come on.
The crowd starts singing.

It all looks effortless.

What you don’t see are the months of planning, the crew, the logistics, the equipment, the transport, the suppliers and the countless moving parts that make those two hours possible.

Business finances can be exactly the same.

One of the biggest misconceptions we come across is believing that cash and profit are the same thing.

They aren’t.

Profit is what your accounts show you’ve earned.

Cash is what’s actually sitting in your bank account.

The two don’t always move together.

You can issue an invoice and make a profit, but if your customer hasn’t paid, there’s no cash.

You can invest in equipment and watch your bank balance fall overnight, while the cost is recognised in your accounts over time.

VAT, Corporation Tax and loan repayments all affect the cash available in your business too, even though they don’t always impact profit in the same way.

Looking at your bank balance alone is a bit like judging a festival by what happens on the stage. It’s only part of the story.

The businesses that make confident decisions are the ones that understand what’s happening behind the scenes as well as what’s in front of them.

If you’d like to understand the full picture behind your numbers, we’d be happy to help.

10/07/2026

Like our founder is featured by Intuit Accountants UK celebrating achievements of the UK Accounting community, very proud 🥹

🏆 Auditor. Collaborator. Trailblazer. Meet Amy Hancock.

We are continuing our series celebrating the achievements of the UK accounting community, and next up is Amy, the co-founder of Hancock and Hastings.

Amy is redefining what it means to be an auditor, proving that high-quality compliance and deep industry trust go hand in hand. Driven by a desire to challenge outdated practices, she is showing the community that audit can truly add value.

A selection of her milestones:

► Built an Industry-Wide Reputation for Trust, becoming the go-to specialist that other accounting firms confidently trust with their clients, knowing the wider relationship is always protected.

► Elevated the Audit Experience by proving you can run a highly successful firm while refusing to rush, undervalue work, or rely on outdated methods.

► Fostered Genuine Collaboration in the profession, showing that the best business growth doesn't come from flashy marketing, but from real relationships and doing the job properly.

Amy is a prime example of an accountant leading with integrity, focus, and exceptional quality. We’re incredibly proud to have you in our community, Amy. 🙌

10/07/2026

We might be joking about Gary here... but the sentiment is true for all of us 💙

We genuinely want our clients to succeed.

Whether it's helping someone grow their business, make confident decisions or simply taking some of the stress out of running a company, we love being part of that journey.

Success means something different to every business owner, and we're proud to support our clients every step of the way.

(Although... Gary definitely says it with the most passion 😂)

08/07/2026

If you’re self-employed or complete a Self Assessment tax return, you may have a Payment on Account due by 31 July.

One of the questions we’re asked most is:
“Why am I paying tax when I’ve already paid my tax bill?”

Payments on Account are advance payments towards your next tax bill. They can catch people by surprise if they weren’t expecting them.

If you’re unsure:
✔️ Whether you have a payment due
✔️ How much you need to pay
✔️ Why you’ve been asked to make the payment
Please don’t ignore it or leave it until the last minute.

Get in touch with our team as soon as possible and we’ll explain exactly what it means, check your position and make sure you know what your options are.

DM’s are open, if you have any questions, please message us ASAP.

07/07/2026

Should you buy your next car through your business?

Before you choose the colour, choose how you’re going to buy it.

It’s one of the biggest financial decisions many business owners make, yet it’s often treated as an afterthought.

The reality is, there isn’t a one-size-fits-all answer.

Some business owners are better off buying a vehicle through their limited company. Others could save money by buying it personally and claiming business mileage instead.

If your company provides you with a car that’s available for personal use, it usually creates a Benefit in Kind tax charge. The amount of tax you’ll pay depends on factors including:

🏁 The value of the car
🏁 Its CO₂ emissions
🏁 Your Income Tax band

This is one of the reasons electric vehicles have become such a popular choice for company cars. Their Benefit in Kind rates are currently much lower than most petrol and diesel vehicles.

It’s also worth remembering that if your company pays for private fuel, this can create an additional tax charge too.

For some business owners, a company car is the right answer. For others, buying the car personally and claiming approved business mileage can work out to be the more tax-efficient option.

The right decision depends on your business, how you’ll use the vehicle and the numbers behind it.

Before you sign on the dotted line, it’s worth spending a few minutes understanding the options.

That conversation could save you far more than negotiating a discount with the dealership.

If you’re thinking about changing your car, we’d be happy to help you compare the options and explain what works best for you.

02/07/2026

We get asked this every year:

"I've submitted my P11D. How do I actually pay it?"

If you've got Class 1A National Insurance to pay following a P11D submission, the deadline is 22nd July if you're paying electronically.

The easiest way to pay is usually through your online banking.

When making the payment, you'll need to use your Accounts Office reference number followed by 2313 at the end. That tells HMRC the payment relates to your Class 1A National Insurance.

One of the most common mistakes we see is using the wrong reference number. The payment gets sent, but HMRC doesn't always know what it's for.

If you're making a payment this month and you're unsure which reference to use, double-check before you hit send. It's much easier than trying to untangle it afterwards.

Not sure what you owe or how to pay it? Ask your accountant before the deadline.

01/07/2026

Thank you, Samantha! Reviews like this genuinely make our day - knowing you feel supported and confident in the advice you're getting is exactly what we're aiming for.

We're so grateful for your trust over the years, and for everyone who works with us, recommends us, or takes a moment to leave a review. It really does mean the world to us all.