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Ten Piece Limited Helping Small Business Owners Become richer legally through Small Business Accounting and Profit First.

16/10/2026

“HMRC is going to invent your profits and tax you monthly!” 🛑
If you’ve seen this claim going viral on social media, don’t panic—it’s a major misinterpretation of what’s actually being planned. 🇬🇧👇
Here is the truth behind the headline:
What’s changing in April 2029? If you file a Self Assessment return and earn PAYE income (like salary or a pension), HMRC plans to collect forecast Self Assessment tax throughout the year via your PAYE tax code. The forecast will be based on your latest tax return and can be updated if your income changes.
What about sole traders and landlords? For those relying solely on self-employment or rental income, HMRC has consulted on replacing two large annual Payments on Account with more frequent payments (monthly or quarterly)—but this reform is not finalized.
The Key Takeaway:
HMRC is not making up fictional profits or increasing your total tax liability.
This is a change in payment timing, not how profit is calculated.
The real challenge here isn’t extra tax—it’s managing your cash flow during the transition and handling fluctuating income.
Don’t let viral headlines trigger unnecessary panic, but do start planning your cash flow early.
📌 Save this post and follow Ten Piece for accurate, no-nonsense UK tax and business updates.

SmallBusinessUK SoleTraderUK

15/10/2026

Can a business show higher profit on paper while its bank account sits empty?
Yes—and understanding why is critical for staying solvent.

PAYE Settlement Agreements in 2026: Reward Employees Without Passing Them the Tax BillA PAYE Settlement Agreement allows...
15/10/2026

PAYE Settlement Agreements in 2026: Reward Employees Without Passing Them the Tax Bill

A PAYE Settlement Agreement allows an employer to make one annual payment covering the tax and National Insurance on certain minor, irregular or difficult-to-divide employee benefits.

It may cover taxable staff entertainment, occasional taxable gifts and some shared expenses. It cannot cover salaries, bonuses, cash allowances or company cars.

Remember: PSA tax is grossed up, so the employer’s final cost can be considerably higher than the original benefit.

Ten Piece Limited can help employers review eligible benefits, calculate the liability and meet HMRC requirements.

14/10/2026

Are you paying for someone else’s retirement? 🇬🇧👇
Unlike a private pension, your National Insurance contributions aren't set aside in a dedicated account with your name on it. The UK operates a pay-as-you-go system—meaning today's worker contributions directly fund today's State Pensions and statutory benefits.
Here is where the figures stand for the 2026/27 tax year:
The Rate: The full new State Pension pays £241.30 per week (£12,547.60 annually), protected by the triple lock policy, which increases payments by the highest of inflation, wage growth, or 2.5%.
The Threshold: You generally need at least 10 qualifying National Insurance years to receive anything, and 35 years to claim the full amount (though pre-2016 records can alter this).
The Changing Timeline: As the UK population ages, the system is becoming increasingly costly to maintain—pushing the State Pension age up from 66 to 67.
What does this mean for your future?
Don't assume your retirement income is fully covered. Taking proactive control of your financial forecast today will prevent unwanted surprises later:
Check your personal forecast on GOV.UK to inspect your NI record.
Identify contribution gaps that can be voluntarily topped up.
Build personal pensions and investments to supplement state provisions.
Looking for clear, actionable advice to protect your long-term wealth?

A £25,000 salary does not mean the employee receives £25,000—or that the employer pays only £25,000.For 2026/27, estimat...
14/10/2026

A £25,000 salary does not mean the employee receives £25,000—or that the employer pays only £25,000.

For 2026/27, estimated take-home pay is around £1,793 per month, while the employer’s total cost could reach nearly £28,600 after National Insurance and pension contributions.

Understanding the full calculation helps employees budget and businesses recruit responsibly.

Read the full article:
https://www.reddit.com/u/Ten_Piece_Limited/s/UuZ9HlDhvH

13/10/2026

A 22% Tax Inside Your Tax-Free ISA?.
A tax inside a tax-free ISA? It sounds contradictory, but from 6 April 2027, major rules are
changing for UK savers.
Here’s what you need to know about the upcoming shift

Understanding UK Tax: What Businesses Pay, When They Pay It and Why Refunds Arise.UK Tax Explained: What Businesses Pay—...
13/10/2026

Understanding UK Tax: What Businesses Pay, When They Pay It and Why Refunds Arise.
UK Tax Explained: What Businesses Pay—and Why Refunds Arise

UK business tax is not one annual bill. Sole traders pay Income Tax on taxable profits, companies pay Corporation Tax, employers operate PAYE, and VAT-registered businesses collect VAT while reclaiming eligible VAT on purchases.

VAT registration is generally compulsory when taxable turnover exceeds £90,000 over a rolling 12-month period. Regular monitoring helps prevent late registration and unexpected liabilities.

A tax refund is not free money. It normally means more tax was paid or deducted than required. Refunds can result from an incorrect PAYE code, excessive Payments on Account, CIS deductions, losses, omitted expenses or recoverable VAT. HMRC may also use a repayment against another liability.

Structure, timing and evidence matter. Sole traders and companies are taxed differently, while dividends, pensions and equipment purchases can affect tax and cash flow. Claims must follow the rules and be supported by reliable records.

Making Tax Digital is bringing reporting closer to real time. From April 2026, qualifying sole traders and landlords with income above £50,000 must keep digital records and provide quarterly updates. The threshold falls to £30,000 from April 2027 and £20,000 from April 2028.

Good bookkeeping and early advice help businesses forecast tax, avoid unnecessary overpayments and protect working capital.

Ten Piece Limited | UK accounting and tax support

A useful VAT tip for your business cash flowUnder standard VAT accounting, you generally account for VAT based on invoic...
12/10/2026

A useful VAT tip for your business cash flow

Under standard VAT accounting, you generally account for VAT based on invoice dates—even if your customers haven’t paid you yet.

With the VAT Cash Accounting Scheme, you account for VAT on sales when your customers pay you, and reclaim VAT on purchases when you pay your suppliers.

If your customers take longer to pay, this could help ease cash-flow pressure. Eligibility conditions apply.

12/10/2026

HMRC Will Tax Profits You Haven’t Made? Here’s the Truth.

11/10/2026

HMRC is watching your social media?

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