Taxcare Accountancy

16/07/2026

Need Help with Making Tax Digital (MTD)?

Stay HMRC compliant, keep your records organised, and avoid unnecessary penalties with support from Taxcare Accountancy.

✅ FREE MTD consultation
✅ Quarterly HMRC submissions
✅ HMRC-compatible software
✅ Digital record keeping
✅ Fixed monthly fees

Let us take the stress out of MTD so you can focus on running your business.

📞 Call Taxcare Accountancy today for a free, no-obligation MTD consultation.

TaxCare Accountancy is a proactive & tax specialised accountancy practice based in Essex. We are a team of qualified chartered certified accountant

09/07/2026

FRC enforcement activity shows that audit oversight remains a key focus, with audit quality, documentation and professional judgement under increasing scrutiny.

Businesses should keep clear records, including reconciliations, payroll reports, invoices, board minutes, loan agreements and evidence for key accounting estimates, as weak documentation can delay audits and increase compliance risk. Strong internal controls and organised financial records help auditors reach conclusions more efficiently and reduce the chance of issues.

Taxcare Accountancy can help businesses prepare audit-ready records, review bookkeeping, payroll, VAT, director loan accounts and year-end documents, helping reduce audit delays and improve compliance confidence.

25/06/2026

Artificial intelligence is becoming increasingly common in audit and accounting, helping professionals analyse data, review documents, and identify potential risks more efficiently.

However, the growing use of AI also creates documentation and compliance challenges. The FRC’s AI-in-audit guidance highlights that while AI can support audit work, responsibility for audit quality and professional judgement remains with humans. Businesses and accountants should ensure there is a clear audit trail showing how AI was used, what information was reviewed, and how outputs were verified.

Strong documentation, reliable source records, and appropriate human oversight remain essential to reduce risk and support confidence in financial reporting.

28/05/2026

The new kinship allowance income tax exemption is a welcome update for eligible carers, helping ensure qualifying payments under the Kinship Zones pilot scheme can be received tax-free. It may reduce Self Assessment worries, but carers should still check what type of payment they receive and keep clear records.

Taxcare Accountancy can help confirm whether the allowance is taxable or exempt and support with any required tax reporting.

21/05/2026

HMRC is increasing reporting pressure on close companies in 2026, especially around payments and transactions involving directors, shareholders, and connected individuals. Owner-managed and family-run companies should prepare by keeping clear records of director’s loans, dividends, withdrawals, shareholder details, and Companies House filings. Good record-keeping will help reduce errors, avoid HMRC enquiries, and ensure company records match personal tax returns.

14/05/2026

PAYE errors can arise when employer payroll records do not match HMRC data, often due to incorrect starter or leaver details, missed RTI submissions, tax code issues, or poorly managed payroll changes. Preventing these problems depends on accurate employee data, timely and correct filings, and regular checks of HMRC notices, while quick correction of mistakes helps avoid larger disputes, employee tax problems, and unnecessary payroll complications.

07/05/2026

Sustainability assurance is set to become a much more important part of the UK accounting landscape as businesses face increasing pressure to support ESG and sustainability disclosures with credible external assurance. With 2026 expected to be a key year for the UK’s approach to ISSA 5000, firms should start preparing now by strengthening their skills, methodologies, quality controls, and independence processes.

30/04/2026

Capital allowances remain an important way for businesses to reduce taxable profits when buying equipment, machinery, and certain vehicles. In 2026, companies can still benefit from 100% full expensing on qualifying new main rate plant and machinery, while the Annual Investment Allowance remains valuable for many smaller businesses and unincorporated traders.

Where immediate relief is not available, expenditure is usually claimed through writing down allowances, with the main pool rate at 14% from April 2026 and the special rate pool at 6%. Qualifying zero-emission cars and EV charge-points can still attract 100% first-year relief until 31 March 2027 for corporation tax and 5 April 2027 for income tax.

Businesses should also remember that selling assets on which enhanced relief was claimed may trigger a balancing charge, so timing and asset classification remain crucial.

23/04/2026

Trivial benefits are a simple way for businesses to give small non-cash gifts to directors and employees without creating a tax or National Insurance charge, as long as the rules are followed. Each benefit must usually cost no more than £50, must not be a reward for work, and must not be written into a contract.

For directors of close companies, there is also a £300 yearly limit. While these benefits do not normally need to be reported on form P11D, it is still important to keep proper records so the business can show that the exemption applies.

16/04/2026

AI can improve efficiency in tax work, but firms must ensure accuracy, protect client data, maintain transparency, and apply professional judgement. Strong controls and ethical use are essential to stay compliant and build trust.