Chapelton Financial

Directions Website Contact the business

Chapelton Financial Professional accountancy and tax services for businesses and individuals across Aberdeen, Aberdeenshire and Edinburgh.

SPOTLIGHT ON: Pensions and inheritance tax: Preparing for the April 2027 changesInheritance Tax, or IHT, is charged on t...
24/10/2026

SPOTLIGHT ON: Pensions and inheritance tax: Preparing for the April 2027 changes

Inheritance Tax, or IHT, is charged on the value of your estate above certain thresholds when you die, normally at 40%. Until now, most private pensions have sat outside that calculation altogether: money left unused in a defined contribution pension could generally pass to your chosen beneficiaries free of Inheritance Tax, however large the fund or your wider estate.

From 6 April 2027, that changes. Following confirmation at the Autumn Budget 2025, and legislation that has already received Royal Assent as the Finance Act 2026, most unused pension funds and lump sum death benefits will be added to the value of your estate for Inheritance Tax, and personal representatives, not pension providers, will be responsible for reporting and paying any tax due. The timing is important because Inheritance Tax thresholds are frozen for years to come, and because estate plans, pension nominations and wills built around the old rules may no longer achieve what you intended.

HMRC’s own analysis estimates that thousands of estates will pay Inheritance Tax for the first time as a direct result. Inheritance Tax receipts already reached a record £8.5 billion in the 2025/26 tax year, and this change is expected to push that figure higher still.

21/10/2026

💷 **£10,000 into your pension. Should you pay it personally or through your limited company?**

If you're a limited company director, it's worth thinking about where that pension contribution comes from.

At first glance, paying into your pension personally might seem like the better option.

But what happens when you factor in the tax you could pay on taking that money out of your company?

In this week's video, Tom breaks down the numbers, looking at corporation tax, dividend tax and how the two approaches compare.

🎥 Have a watch below.

If you're thinking about making a pension contribution and aren't sure which route makes sense for you, get in touch with the Chapelton Financial team.

📩 **The latest Chapelton Brief is out!**With the end of the year creeping closer, now's a good time to get on top of you...
19/10/2026

📩 **The latest Chapelton Brief is out!**

With the end of the year creeping closer, now's a good time to get on top of your finances.

In this month's newsletter, we're covering:

▪️ Why Scottish taxpayers might want to rethink their dividends

▪️ Selling on Vinted or eBay: when does tax come into it?

▪️ Capital Gains Tax: what you need to know about rates and allowances

▪️ Making Tax Digital: how to prepare for the changes coming in April 2027

Plus, a round-up of the latest business and tax news.

Want useful tax tips, accounting updates and practical advice delivered straight to your inbox?

**Sign up to The Chapelton Brief here:** 👇

https://mailchi.mp/chapelton/sms-signup

15/10/2026

🛍️ Selling on Vinted, eBay or Facebook Marketplace? Do you need to tell HMRC?

If you've been having a clear-out and selling unwanted clothes or household items online, you might be wondering whether you need to declare the money you make.

The good news is that selling your own unwanted belongings doesn't usually mean you have a tax bill.

But there's a difference between having a clear-out and buying or making things specifically to sell for profit.

And where does the £1,000 trading allowance come into it?

In this week's video, Maria explains what you need to know about selling online and when you might need to tell HMRC.

🎥 Have a watch below.

If you're unsure whether your online sales count as trading, get in touch with the Chapelton Financial team: https://www.chapelton.co.uk/contact/

SPOTLIGHT ON: Making Tax Digital for Income Tax: Preparing for the April 2027 thresholdMaking Tax Digital for Income Tax...
10/10/2026

SPOTLIGHT ON: Making Tax Digital for Income Tax: Preparing for the April 2027 threshold

Making Tax Digital for Income Tax is a legal requirement to keep digital business records and send HMRC a short online update every three months, rather than relying on one Self Assessment return a year. It has applied since 6 April 2026 to sole traders and landlords with qualifying income over £50,000, and from 6 April 2027 it extends to anyone with combined self-employment and property income over £30,000.

For those newly affected, the change is less about the tax owed and more about how records are kept. Four quarterly updates are followed by a year-end final declaration – similar in substance to the annual tax return many people are used to, but sent through compatible software rather than HMRC’s own online service. A shoebox of receipts sorted once a year is no longer enough.

More than 436,000 sole traders and landlords successfully sent their first Making Tax Digital for Income Tax quarterly update, and over 570,000 had signed up to the service, HMRC confirmed as at 12 August 2026. The next wave is expected to be considerably larger.

If your combined income from self-employment and property sits between £30,000 and £50,000, your 2025/26 tax return is the one HMRC will use to decide whether you join from 6 April 2027, so the time to prepare is now rather than next spring.

08/10/2026

💷 𝐀𝐫𝐞 𝐲𝐨𝐮 𝐚 𝐒𝐜𝐨𝐭𝐭𝐢𝐬𝐡 𝐜𝐨𝐦𝐩𝐚𝐧𝐲 𝐝𝐢𝐫𝐞𝐜𝐭𝐨𝐫 𝐭𝐚𝐤𝐢𝐧𝐠 𝐚 𝐦𝐢𝐱 𝐨𝐟 𝐬𝐚𝐥𝐚𝐫𝐲 𝐚𝐧𝐝 𝐝𝐢𝐯𝐢𝐝𝐞𝐧𝐝𝐬?

It might be worth taking another look at how you pay yourself.

Scotland has different Income Tax bands from the rest of the UK, and while dividend tax rates are the same across the UK, those differences can affect your overall tax position.

So is the salary and dividend mix you've always used still the best approach for you?

In this short video, Tom explains why Scottish company directors should be reviewing their dividend strategy rather than simply sticking with what they've always done.

Have a watch 👇

If you're unsure whether you're taking income from your business in the most tax-efficient way, get in touch with the Chapelton Financial team: [email protected]

30/09/2026

What is the £100K tax trap, and could it affect you? 💷

Once your income goes over £100,000, your Personal Allowance starts to reduce. That can mean paying significantly more tax on part of your income than you might expect.

It’s one of those quirks in the tax system that’s worth understanding, particularly if your income is approaching or has passed the £100K mark.

In this short video, Tom takes to the whiteboard to explain how the £100K tax trap works and why planning ahead can make a difference.

Have a watch 👇

If you’d like to understand what it could mean for your own tax position, get in touch with the Chapelton Financial team: [email protected]

SPOTLIGHT ON: Capital Gains Tax Capital Gains Tax can arise in more situations than simply selling an investment for a p...
26/09/2026

SPOTLIGHT ON: Capital Gains Tax

Capital Gains Tax can arise in more situations than simply selling an investment for a profit.

Giving an asset to a family member, transferring ownership, exchanging one investment for another or selling something for less than its full value can all count as disposals for Capital Gains Tax purposes.

The tax is charged on the gain rather than the total amount received. However, the amount ultimately payable depends on several factors, including the type of asset, its original cost, your income, previous losses, available tax reliefs and who receives the asset.

The timing of a transaction can also affect the result.

HMRC's latest available annual statistics show that 378,000 taxpayers incurred Capital Gains Tax liabilities of £12.1 billion in 2023/24, based on total taxable gains of £65.9 billion. These remain the latest complete annual figures available as at 7 August 2026, with HMRC's next annual statistical release expected later in 2026.

If you are considering selling, gifting or transferring a valuable asset, working out the tax position before committing to the transaction can prevent unexpected bills and identify reliefs that may otherwise be missed.

22/09/2026

New to Self Assessment? There’s an important deadline coming up. ⏰

If you need to register for Self Assessment for the tax year ending 5th April 2026, the deadline to notify HMRC is 5th October 2026.

In this quick video, Maria explains why it’s important not to leave it too late.

Not sure whether you need to register, or what you need to do next? Get in touch with the Chapelton team and we’ll be happy to help.

New to Self Assessment? There’s an October deadline you don’t want to miss. 🍂If you need to complete a Self Assessment t...
16/09/2026

New to Self Assessment? There’s an October deadline you don’t want to miss. 🍂

If you need to complete a Self Assessment tax return for the first time for the 2025/26 tax year, you should register with HMRC by 5th October 2026.

You may need to register if, for example, you became self-employed, started receiving rental income or have other untaxed income that needs to be declared. HMRC has also just introduced an improved online registration service designed to make the process simpler.

And while the online tax return itself isn't due until 31st January 2027, getting registered now means one less thing to deal with as January approaches.

Not sure whether you need to complete a Self Assessment return?

Speak to the Chapelton Financial team and we can help you understand what applies to you and what you need to do next.

Address

Chapelton House
Ellon
AB416PX

Opening Hours

Monday 7am - 9pm
Tuesday 7am - 9pm
Wednesday 7am - 9pm
Thursday 7am - 9pm
Friday 7am - 9pm
Saturday 9am - 7pm
Sunday 9am - 7pm

Website

, ,

Alerts

Be the first to know and let us send you an email when Chapelton Financial posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Contact The Business

Send a message to Chapelton Financial:

Shortcuts

Share

Category