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Monday 9am - 5:30pm Tuesday 9am - 5:30pm Wednesday 9am - 5:30pm Thursday 9am - 5:30pm Friday 9am - 5:30pm

Nichols & Co

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Nichols & Co

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Here at Nichols & Co, we are a leading team of accounting and business advisory specialists based in Southeast London.

11/08/2025

Received income from a trust or estate this year? You may be owed a tax refund—but only if you use Form R185 correctly.
Many people miss out by reporting the wrong figures or failing to claim back overpaid tax.

Find out more 👉 https://nichols.co.uk/news/form-r185/ #:~:text=Form%20R185%20is%20an%20official,income%20distributed%20by%20a%20trust

04/08/2025

Selling a property, business asset or shares this year? You could be facing a chargeable gain—and a tax bill—without realising it. Many people overpay or miss key reliefs simply because they don’t know what qualifies or how to plan ahead.

Find out how chargeable gains work in 2025, what’s changed, and the steps you can take to stay on the right side of HMRC.
👉 https://nichols.co.uk/news/chargeable-gains-2025/

28/07/2025

Many businesses unknowingly leave significant tax savings on the table when buying or refurbishing commercial property. Did you know even existing fixtures—like heating systems or lighting—can qualify for relief, not just new fittings?

Find out how capital allowances could benefit your business 👉 https://nichols.co.uk/news/capital-allowances-on-commercial-property/

21/07/2025

Did you know your company can give small gifts—like birthday treats or vouchers—without triggering extra tax or paperwork? Many business owners miss out on using trivial benefits simply because they’re not aware of the rules.

Understanding HMRC’s conditions (like the £50 limit per benefit) could save you money and boost morale at the same time.

Find out more 👉 https://nichols.co.uk/news/trivial-benefits/

10/06/2025

From parental leave to sick days, statutory pay is a core part of running a compliant and supportive workplace. But the rules - and the paperwork - can be difficult to follow.

In our latest guide, we explain how Statutory Maternity Pay (SMP), Statutory Paternity Pay (SPP) and Statutory Sick Pay (SSP) work in 2025/26, including:

✔️ Eligibility criteria
✔️ How to calculate payments
✔️ Key timeframes and records
✔️ What you can reclaim from HMRC

Get the full breakdown 👉 https://nichols.co.uk/news/statutory-payments/

05/06/2025

If your business provides company cars, private medical cover, or reimbursed expenses, you may need to report them using Form P11D.

From submission deadlines to common reporting errors and the difference between P11D and P11D(b), we’ve broken down everything UK employers need to know this tax year.

✔️ What to report
✔️ When to submit
✔️ How to avoid penalties

Read the full guide 📖 - https://nichols.co.uk/news/form-p11d/

29/05/2025

Whether you’re self-employed, a landlord, a company director, or earning extra income outside PAYE, Self Assessment can feel like a lot to manage—especially if you leave it too late.

In this guide, we break down 5 straightforward steps to help you get ready for the 2024/25 tax year. You’ll learn:

✔️ What records you should be gathering now
✔️ Key dates and how to avoid late penalties
✔️ Common filing mistakes to avoid
✔️ What to do if your circumstances have changed
✔️ When to speak to an accountant

Taking a bit of time now can save you a lot of hassle later—and help you submit an accurate return without the last-minute rush.

Read the full article 👉 https://nichols.co.uk/news/preparing-for-self-assessment/

18/05/2025

Understanding your PAYE tax code has never been more important. A wrong code could mean paying too much tax—or facing a surprise bill later.

With the standard 1257L code still applying for most, but countless other codes reflecting adjustments, it’s vital to stay informed.

Check what your code really means 👉 https://nichols.co.uk/news/paye-tax-codes/

14/05/2025

With more employees falling under the new Plan 5 student loan rules— brings longer repayment terms and lower thresholds.

For employers, understanding HMRC notices, using the right plan, and handling dual deductions is critical to payroll compliance. For staff, it’s about knowing why deductions appear and how much they really affect take-home pay.

Full breakdown here 👉 https://nichols.co.uk/news/repaying-your-student-loan/

09/05/2025

In 2025, property investors face tighter margins and rising tax pressure. With CGT now at 24% for higher-rate taxpayers, reduced exemptions, and stricter rules on deductions, the cost of poor planning is higher than ever.

Read the full breakdown here 👉 https://nichols.co.uk/news/property-tax-planning-for-investors/

Address

London

Opening Hours

Monday	9am - 5:30pm
Tuesday	9am - 5:30pm
Wednesday	9am - 5:30pm
Thursday	9am - 5:30pm
Friday	9am - 5:30pm

Telephone

+442088503300

Website

https://nichols.co.uk/

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