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At Taxbox Consulting Ltd, we help small business owners and startups with limited budgets navigate accounting and taxation.

Our cost-effective, professional solutions let entrepreneurs focus on growth with confidence.

26/08/2026

Started working for yourself this year? There's a deadline coming most people don't know about.

📅 5 October — that's when you tell HMRC you'll be filing a tax return, if you've never filed one before.

Is this you?
👷 Started as a subbie
💻 Went self-employed
🏠 Started renting out a property
💷 Took in money HMRC hasn't taxed

Already filed a return before? Then this one isn't for you.

How it works
1️⃣ You register online
2️⃣ HMRC posts your UTR, and an activation code follows — usually within 7 working days
3️⃣ You file by 31 January using those details

The letters come by post. The code letter looks like junk mail and people bin it. Without it you can't file.

The bit nobody mentions: registering as a sole trader also signs you up for Class 2 National Insurance — which builds your State Pension record. Stay unregistered and those years just don't count.

And yes — you register even if you earned very little. Low profits don't excuse you.

Leave it late: £100 the day your return is late, then £10 a day after 3 months (up to £900), then after 6 months 5% of the tax or £300. The £100 lands even if you owe nothing.

Rather not deal with it? We register you, chase the paperwork, and file on time.

📧 [email protected] 🌐 taxboxconsulting.co.uk

24/08/2026

Two households. Same money coming in. Opposite results.

🏠 Two parents on £59,000 each — £118,000 between them. Keep all their Child Benefit.
🏠 One parent on £80,000, one at home — £80,000 total. Lose all of it.

That's the High Income Child Benefit Charge. It looks at ONE person's income, never the household's. (The plan to change that was dropped in the October 2024 Budget.)

How it works
Above £60,000 of adjusted net income, you repay 1% of your Child Benefit for every £200 you're over. At £80,000, you repay the lot.

What's at stake in 2026/27
£27.05 a week for the eldest child, £17.90 for each other child. Two children = £2,337.40 a year.

At £70,000 adjusted net income with two kids, half goes back — £1,168.70 repaid, £1,168.70 kept.

Why the self-employed get caught
You don't know your profit until the year has closed, so a busy run can tip you over without warning. And there's no PAYE shortcut — it lands on the tax return you already file.

⚠️ The mistake that really costs
If the charge would take back everything, don't cancel the claim. Register, then opt out of the payments. No money in, no charge — but the claim still earns National Insurance credits towards State Pension while a child is under 12, and your child still gets their NI number at 16.

Never claiming at all can quietly cost a parent pension years.

Between £60k and £80k with children? Pension contributions and Gift Aid reduce adjusted net income and can change the answer.

Message us.

📧 [email protected] 🌐 taxboxconsulting.co.uk

21/08/2026

HMRC sent 81,172 warnings to crypto holders last year — letters, emails and texts asking people to check their tax.

The trend is the story:

📈 2021/22 — 8,329
📈 2022/23 — none
📈 2023/24 — 27,714
📈 2024/25 — 64,982
📈 2025/26 — 81,172

Up 25% on last year. Nearly ten times the 2021/22 figure. (Figures from a Freedom of Information request by UHY Hacker Young, reported by the BBC.)

Why it keeps growing. HMRC already gets records from UK exchanges — enough to spot activity a tax return doesn't show. From 2027, platforms in dozens of other countries start reporting UK customers too, with the first reports due 31 May 2027.

Where people get caught. You don't have to cash out to owe tax. HMRC counts these as disposals:

✅ Selling for pounds
✅ Swapping one coin for another ← the one that catches everyone
✅ Paying for goods or services with it
✅ Giving it away — unless to your spouse or civil partner

Two that run the other way. Moving coins between your own wallets isn't a disposal. And an airdrop you did nothing to receive generally isn't income — though selling it later still counts. Mining and staking rewards are different again.

If a letter turns up: it's not an accusation. It means HMRC has information suggesting your return may be incomplete. Sorting it yourself is treated very differently from being found.

Hold crypto and not sure your returns reflect it? Message us.

📧 [email protected] 🌐 taxboxconsulting.co.uk

20/08/2026

HMRC slipped a deadline into last week's press release that most people missed.

📩 From September, HMRC will start signing people up to MTD themselves — anyone who should be in it this year but hasn't signed up. It rolls out in stages, with guidance coming late August about what to do if a letter lands.

So it's not "will I be in MTD" anymore. It's "do I walk in, or get walked in?"

The numbers tell a story too:

Over 570,000 have signed up
More than 436,000 have actually filed a first update
That leaves roughly 134,000 who signed up but haven't filed

Signing up was never the hard part. Having records good enough to file is.

Worth knowing:

📊 Scope is turnover, not profit — and it's tested on a past year. Over £50,000 gross on your 2024/25 return puts you in now. Thin margins don't keep you out. The £30,000 threshold arrives April 2027, tested on your 2025/26 return.

✉️ HMRC writes to people it spots as in scope — but no letter doesn't mean no obligation. Checking is on you.

⚠️ No penalty points for late quarterly updates this year — but late returns and late payments are still penalised. From April 2027: one point per missed deadline, £200 at four points.

🚧 Quarterly updates gate your tax return. Skip one and you can't file at all.

📅 Next quarterly deadline: 7 November. Self Assessment: still 31 January.

One practical thing — the MTD service has planned downtime from 5pm Friday 11 September to 1pm Tuesday 15 September. If you're signing up in September, do it before that window.

Over the threshold and not signed up? Message us — do it while it's still your call.

📧 [email protected] 🌐 taxboxconsulting.co.uk

18/08/2026

The mileage rate rise is now law. Royal Assent, 15 July 2026.

55 pence a mile for the first 10,000 business miles, up from 45 pence — backdated to 6 April 2026.

What it means for you:

🔧 Self-employed? Use 55 pence for your 2026/27 mileage. But your 2025/26 return, due 31 January 2027, still uses 45 pence. Don't mix them.

👷 Employed and your boss still pays 45 pence? Most payroll systems haven't been updated. You're 10 pence a mile below the approved rate — and you can claim tax relief on the gap. On 8,000 miles that's £800 of relief, worth £160 back at basic rate or £320 at higher rate. Claim it on your tax return, or on form P87 if you don't file one.

One thing to know: the approved rate is a maximum for tax purposes, not something your employer has to pay. But if they pay under it, the relief is there for you.

🏢 Paying staff mileage? Update your rate, then check what you've paid since April. A top-up is worth thinking about. Pay at or below 55 pence and there's no tax, no NIC and no P11D.

Not sure which applies to you? Message us.

📧 [email protected] 🌐 taxboxconsulting.co.uk

17/08/2026

Think MTD got rid of your tax return? It didn't.

Quarterly updates were ADDED. Nothing was removed.

Two things are running side by side right now — quarterly updates for this year, and your normal tax return for last year.

📅 2025/26 tax return: due 31 January 2027

A quarterly update is just a short summary sent from your software. It doesn't work out your tax bill. The return still does that.

One thing to know early: 31 January 2027 is a Sunday. Filing online is fine at any time, but HMRC says that when a payment deadline lands on a weekend, the money has to reach them by the last working day before — unless you pay by Faster Payments or debit or credit card. So for Bacs or an existing Direct Debit, Friday 29 January is your real cut-off.

Why does this matter in August? Because people who think the return has gone stop keeping records. Then January arrives and it's a rebuild job.

Two questions: have you got last year's records, and do you know when your next update is due?

Shrugging at either? Message us.

📧 [email protected] 🌐 taxboxconsulting.co.uk

16/08/2026

Most CIS subcontractors are owed money — and most don't claim all of it.

Tax comes off your payments at 20% or 30% before you see them. That's taken on your income, not your profit. Your van, tools, insurance, mileage and protective gear come off later, when the return is filed.

That's why a refund is normal, not lucky.

Two things cost subbies money every year:

Missing deduction statements — chase them now, not in April
Expenses nobody claims — mileage, tools, laundry, phone

Early beats January. Records are fresher, contractors actually answer, and the money arrives when winter work slows down.

Fixed fee, no surprises. Message us and we'll take a look.

📧 [email protected] 🌐 taxboxconsulting.co.uk

27/03/2026

Quick question: Do you know how much you're actually paying in taxes?

If you're running a small business or working for yourself in the UK, there's a good chance you could be saving hundreds (or even thousands) without realizing it.

Here's the thing: Tax doesn't have to be complicated. We help UK business owners and self-employed people navigate their finances without the headache.

Whether it's understanding your self-assessment, setting up your bookkeeping, or finding deductions you've missed, we're here to make it simple and affordable.

No jargon. No stress. Just straightforward advice that helps your business grow.

Ready to take control of your finances? Drop us a message or visit our website to book a free chat. Let's see how much you could be saving.

TaxBox Consulting - Simplifying Your Tax Journey

26/03/2026

Quick question: How much did you spend on your business last month?

If you can't answer that off the top of your head, you're not alone – but it's costing you money.

Here's the truth: Most small business owners don't track their expenses properly, which means they miss out on legitimate tax deductions and have no idea where their money is actually going.

This month, try this simple approach:

📌 Keep a folder (digital or physical) of all receipts
📌 Note what each expense was for (equipment, supplies, travel, etc.)
📌 Review it weekly – takes 10 minutes
📌 Share it with your accountant at the end of the month

When you track properly, you:
✓ Pay less tax (legally)
✓ Understand your cash flow better
✓ Make smarter business decisions
✓ Sleep better at night knowing your finances are in order

Don't wait until tax return time to scramble for receipts. Start tracking now.

Need help getting organised? We're here to make it simple. Message us today for a free chat about your bookkeeping.

01/12/2025

If you could give your younger self one piece of money advice, what would it be?
For me, it’s this: Profit isn’t the same as cash! Always have a buffer for tax and emergencies.
When I started out, I made the mistake of spending too soon—then got caught out by tax bills and late payments.
What’s your biggest money lesson? Comment below—let’s help each other out!

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

Website

http://www.taxboxconsulting.co.uk/

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