Pro Tax Accountant

10/08/2026

https://www.protaxaccountant.co.uk/post/uk-bank-data-sharing-laws

Understand UK bank data sharing laws and how HMRC tracks your interest and dividends for tax compliance. Discover your rights and stay informed today.

09/08/2026

The 14-Year Rule for UK Inheritance Tax explained for 2026, including how failed gifts can affect earlier lifetime transfers and inheritance tax calculations.

The 14-year rule is an important but often misunderstood aspect of UK Inheritance Tax (IHT). In this video, Pro Tax Accountant explains how failed Potentially Exempt Transfers (PETs) and the interaction with the seven-year rule can sometimes bring earlier gifts back into the inheritance tax calculation.

Whether you're planning your estate, supporting family members through lifetime gifting, or reviewing previous gifts, understanding these rules can help you make informed decisions while remaining compliant with current HMRC guidance.

What the rule means
Understanding the UK's 14-year rule
How failed lifetime gifts can affect earlier transfers
The interaction between PETs and the nil rate band
Why older gifts can sometimes become relevant again
Who it affects
Individuals undertaking estate planning
Families making significant lifetime gifts
Executors and personal representatives
Anyone reviewing inheritance tax exposure in 2026
Practical implications
Planning gifts over time
Understanding the order in which gifts are assessed
Avoiding unexpected inheritance tax outcomes
Keeping accurate records of lifetime transfers
Compliance considerations
Follow current HMRC Inheritance Tax guidance
Maintain complete documentation of gifts
Review estate plans regularly
Seek professional advice before making significant gifting decisions

Contact Pro Tax Accountant

WhatsApp / Phone: 07985689912

Email: [email protected]

Disclaimer

This video provides general information about UK taxation and inheritance tax rules. It is intended for educational purposes only. Tax outcomes depend on individual circumstances and applicable legislation. HMRC guidance and tax rules may change over time. Always obtain professional advice before making financial or tax decisions.

07/08/2026

Hidden Bank Reporting Obligations in the UK explained for 2026.

Understanding hidden bank reporting obligations is increasingly important for UK taxpayers, landlords, investors, company directors and business owners. In this video, Pro Tax Accountant explains how UK financial disclosure rules operate in 2026, the circumstances in which financial institutions may share information with HMRC under UK legislation, and why maintaining accurate tax records remains essential.

What the rules mean

Banks and other financial institutions have legal reporting responsibilities under UK legislation and international information-sharing agreements. These obligations are designed to support tax compliance, prevent financial crime and improve transparency. Financial privacy continues to exist, but it operates within a legal framework that permits certain information to be disclosed where required by law.

Who it affects

This video is relevant for:

Individual taxpayers
Company directors
Sole traders and self-employed individuals
Landlords
Investors
Anyone receiving UK or overseas financial income
Practical implications

We'll explain:

What financial information may be reportable
How reporting obligations differ from routine banking activity
Why accurate tax returns remain important
How proper record keeping can reduce compliance risks
Common misunderstandings about financial privacy
Compliance considerations

HMRC publishes guidance on record keeping, Self Assessment and tax compliance. Understanding these obligations helps taxpayers submit accurate returns, respond appropriately to HMRC enquiries where necessary and avoid unnecessary errors.

For advice tailored to your circumstances, speak with a qualified UK tax adviser.

Contact Pro Tax Accountant

WhatsApp / Phone: 07985689912

Email: [email protected]

Disclaimer

This video provides general UK tax information for educational purposes only. It does not constitute tax, legal or financial advice. Tax outcomes depend on your individual circumstances and current legislation. HMRC guidance and tax rules may change over time, including during 2026 or 2026/27. Always obtain professional advice before making financial or tax decisions.

07/08/2026

https://www.protaxaccountant.co.uk/post/corporate-interest-restriction

06/08/2026

Gifts Out Of Surplus Income: HMRC Records Accepted In 2026/27 explained for UK taxpayers.

What the rule means

The gifts out of surplus income exemption allows qualifying lifetime gifts to fall outside an estate for Inheritance Tax purposes where specific conditions are satisfied. HMRC expects taxpayers or personal representatives to retain sufficient evidence showing income, expenditure, regular gifting and that normal living standards were maintained.

Who it affects
Individuals making regular financial gifts
Families undertaking Inheritance Tax planning
Executors and personal representatives
Financial advisers and business owners with surplus income
Practical implications

Keeping detailed records can make it easier to demonstrate eligibility if HMRC reviews an estate. Documents may include income records, bank statements, expenditure summaries, gifting schedules and supporting correspondence where appropriate. Consistent record keeping over several years can significantly simplify estate administration.

Compliance considerations

HMRC considers the facts of each case individually. Taxpayers should ensure gifts satisfy the statutory conditions and maintain contemporaneous evidence rather than attempting to reconstruct records later. Accurate documentation can reduce uncertainty during estate administration.

For tailored advice on Inheritance Tax planning and gifts out of surplus income, speak with Pro Tax Accountant.

Contact Us

WhatsApp / Phone: 07985689912

Email: [email protected]

Disclaimer

This video provides general information about UK taxation and HMRC rules in 2026/27. It is intended for educational purposes only. Individual tax circumstances differ and the legislation may apply differently depending on personal facts. This content should not be treated as financial, legal or tax advice. Always seek professional advice before making decisions based on your own circumstances.

05/08/2026

Gifts Out Of Surplus Income: HMRC Records Accepted In 2026/27 explained for UK taxpayers.

Understanding Gifts Out Of Surplus Income is essential for anyone using this valuable Inheritance Tax exemption in 2026/27. In this video, Pro Tax Accountant explains the records HMRC is likely to expect when reviewing whether gifts genuinely qualify for the exemption. Good documentation can help demonstrate that gifts were made from surplus income rather than capital and formed part of a regular pattern.

Who it affects
Individuals making regular financial gifts
Families undertaking Inheritance Tax planning
Executors and personal representatives
Financial advisers and business owners with surplus income
Practical implications

Keeping detailed records can make it easier to demonstrate eligibility if HMRC reviews an estate. Documents may include income records, bank statements, expenditure summaries, gifting schedules and supporting correspondence where appropriate. Consistent record keeping over several years can significantly simplify estate administration.

Compliance considerations

HMRC considers the facts of each case individually. Taxpayers should ensure gifts satisfy the statutory conditions and maintain contemporaneous evidence rather than attempting to reconstruct records later. Accurate documentation can reduce uncertainty during estate administration.

For tailored advice on Inheritance Tax planning and gifts out of surplus income, speak with Pro Tax Accountant.

Contact Us

WhatsApp / Phone: 07985689912

Email: [email protected]

Disclaimer

This video provides general information about UK taxation and HMRC rules in 2026/27. It is intended for educational purposes only. Individual tax circumstances differ and the legislation may apply differently depending on personal facts. This content should not be treated as financial, legal or tax advice. Always seek professional advice before making decisions based on your own circumstances.

05/08/2026

https://www.protaxaccountant.co.uk/post/substantial-shareholding-exemption

Discover essential FAQs on Substantial Shareholding Exemption for trading subsidiaries sold in 2026/27 in the UK. Avoid pitfalls and maximise tax relief, consult your adviser today

04/08/2026

New rules, no panic. Making Tax Digital for Income Tax is now live, and if you are a sole trader or landlord earning over £50,000, HMRC expects a digital update every quarter rather than a single annual return. The first one is due by 7 August 2026. It sounds like more work, but a quarterly update is simply a summary of your income and expenses sent through recognised software, and it is designed to take just a few minutes. Your Self Assessment tax return still follows later, with the deadline unchanged at 31 January. The key is having clean digital records and the right setup from the start. That is exactly where Pro Tax Accountant comes in. Let us handle the detail so you can stay focused on your business. Get in touch.

03/08/2026

How to claim a Corporation Tax refund in the UK: understand the step-by-step process, eligibility and HMRC requirements.

Understanding the correct process can help companies submit accurate information, minimise delays and maintain proper tax compliance.

In this video, we explain:
Common reasons why Corporation Tax refunds arise
How to review your Corporation Tax position
The importance of submitting accurate Company Tax Returns
When amended returns may affect refund eligibility
Supporting records HMRC may request
Expected stages of the refund process
Who this video is for
UK limited companies
Company directors
Small and medium-sized businesses
Finance teams
Business owners managing Corporation Tax compliance
Practical implications

Maintaining accurate accounting records, reconciling tax payments and reviewing relief claims can improve the accuracy of Corporation Tax submissions. Businesses should ensure that all amendments are fully supported by appropriate documentation.

Compliance considerations

HMRC may review amended returns or supporting calculations before processing a refund. Companies should retain accounting records, tax computations and relevant evidence to support any repayment claim.

Contact Pro Tax Accountant

WhatsApp / Phone: 07985689912

Email: [email protected]

Disclaimer

This video provides general information about UK Corporation Tax rules for educational purposes. It does not consider the specific circumstances of any individual company. Tax legislation and HMRC guidance may change over time. Professional advice should be obtained before making tax decisions or submitting amended returns. Pro Tax Accountant accepts no responsibility for actions taken solely on the basis of this general information.