Omni Accounting

16/10/2026

https://youtu.be/NDnaOuzFT14

This is the 1st lesson from a series of bookkeeping lessons that yo...

16/10/2026

https://youtu.be/NDnaOuzFT14

05/10/2026

https://the-small-business-money-brief.kit.com/3becebd216

Free PDF: Click here to download your 40 free UK Sole trader Tax & Money Health checklist: ​https://payhip.com/b/Omxeu​​

01/10/2026

Still on MTD. Here’s a reminder of important income tax timeline you must keep a note of:
Date. Event
31/1/26. Deadline to submit a self- assessment tax return for 2024/25.
6/4/26. When you must start keeping records using MTD for income tax software.
7/8/26. Deadline to send your first quarterly update.
7/11/26. Deadline to send second quarterly update.
31/1/27. Deadline to submit a self-Assessment tax return the usual way for 2025/26.
7/2/27. Deadline to send your third quarterly update.
7/5/27. Deadline to send your fourth quarterly update.
7/8/27. Deadline to send your first quarterly update for 2027/28.
7/11/27. Deadline to send your second quarterly update.
31/1/28. Deadline to submit your tax return straight from MTD for income tax software for 2026/27.
7/2/28. Deadline to send your third quarterly update.
7/5/28. Deadline to send your fourth quarterly update.

28/09/2026

The Benefits of MTD for Income Tax
This approach is designed to help sole traders and property landlords to stay in compliance with regulations in relation to:
• Paying the correct amount of tax.
• Minimise the chances of errors caused by manual processing.
• Understand their finances.
• Planning.
• Standardisation of ways to manage your VAT returns.
• Time savings resulting from improved processes.
• Tax confidence
• Improved
• Upgrade of recording system as paper-based system is eliminated.

25/09/2026

MTD for Sole Traders and Landlords
Penalty with MTD:
There will be late submission and payment penalty changes with MTD.
Late Submission Penalties:
• The new late submission penalties are point-based. This means that a penalty point will be applied for each missed quarterly update or tax return deadline.
• There a £200 penalty once a sole trader or property landlord accumulates 4points.
• Penalties apply if deadlines are repeatedly missed.
• However, you will not get a penalty if it is a one-off mistake.
Late Payment Penalties:
• Late payment penalty is proportionate to the amount of tax owed to HMRC.
• Also, it would depend on how long it took for you to pay it.
• This means that the quicker you make the payment, the lower the penalty.
Penalty Points for 2026 to 2027 Tax Year:
• The legislation was introduced in the autumn budget of 2025 to 2026.
• This means that HMRC will not apply penalty points for late quarterly update for the first tax year of 2026/27.

23/09/2026

There are 10 expense rules every sole trader should know. Here are a few. If you want the rest of the list, why not DM me and I will send you the rest in the list.

"Before You Claim" checklist.
1. Ask: "Is this genuinely for my business?"
The expense should have a genuine connection with the trade.
2. Separate business and private expenditure
If something is partly business and partly private, only the appropriate business element may be claimable.
3. Keep evidence
Keep invoices, receipts, bills, mileage records and other supporting evidence.

22/09/2026

What to know about Making Tax Digital for Income Tax (MTD): This is a new way for sole traders and landlords to report income and expenses to HMRC in UK.

When to Start: Depends on whether you receive a gross combined income of more than £20,000 from self-employment and property. The ‘qualifying income’ is the total gross income before expenses and tax. Every sole trader and landlord will not start this year: For example:
For 2024 to 2025 tax year with a qualifying income of more than £50,000 - MTD starts 6th April 2026.For 2025 to 2026 tax year with a qualifying income of more than £30,000-MTD starts 6th April 2027, For 2026 to 2027 tax year with a qualifying income of more than £20,000- MTD starts 6th April 2028.

01/06/2026

Are you falling behind bookkeeping during busy periods?
Here are some more practical ways to avoid piling up work during these times:
1. Create Evenings or Weekends to catch up.
2. Use bank feeds and automation.
3. Create a receipt routine in the van such as: keeping separate folders for receipts, unpaid invoices,supplier paperwork.
4. Endeavour to review finances weekly and not yearly. In this way, you are able to catch unpaid invoices, unusual spending, cash flow issues, forgotten expenses.
5. Bring admin tasks together rather than constant interruptions such as invoices at 4pm on Fridays, receipts after supplier runs etc.
6. Avoid mental bookkeeping, you may not be able to remember all the payments, expenses and invoices by memory would cause mistakes.
7. Reach out to me because I specialise is solving issues for trades people.

01/06/2026

Are you falling behind bookkeeping during busy periods?
Here are some practical ways to avoid piling up work during these times:
1. Block out a fixed "admin hour" every week. Consider bookkeeping as a job appointment.
2. Consider using mobile bookkeeping apps such as Xero. These let you upload receipts, send invoices and track expenses from your phone right after a job.
3. You can take a photograph of your receipts immediately. Do not loose your receipts or leave them in your van. Snap them the instant that you receive them.
4. Start from the outset to separate business and personal accounts. This reduces sorting time and confusion later.
5. Send invoice the same day the work is completed.
6. Use automatic invoice reminders, recurring invoices and sync to bank feed to reduce manual data entry.
7. Use a spreadsheet to keep a simple job tracking record. This is better than relying on your memory.
8. Keeping record does not need to be perfect, what matters is daily consistency
9. If after trying by yourself and you can still not keep the record of your receipts, invoices, to avoid penalties, you can email me and I would be a support for your business.
10. Contacting me as your bookkeeper and accountant must be before you feel ready because it might be late.