Farrell & Farrell Chartered Accountants

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Farrell & Farrell Chartered Accountants

At Farrell & Farrell we are a team of Chartered Accountants and Chartered Tax Advisers that provides

16/07/2026

UK: Self-Assessment Reminder – 31 July Payment Deadline

Your second payment on account for the 2025-26 tax year is due by 31st July 2026.

Who needs to pay?
You usually need to make these payment unless:
• You owed less than £1,000 in last tax year, or
• You already paid more than 80% of your tax through PAYE or other deductions.

Check your Self-Assessment account or statement to see if you need to make a payment.

If you are required to make payments on account, don’t miss the deadline to avoid interest and penalties.

10/07/2026

Our office will be closed on Monday 13th and Tuesday 14th July 2026.

08/07/2026

Exam Success Placing 5th in Ireland

Huge congratulations to our team member Jessica Sahlani who once again delivered exceptional results in her ATI exams. Placing 5th in the whole of Ireland – now that’s not bad!.

The ending of one chapter and the beginning of Jessica’s journey to become a Chartered Accountant. We are all very excited for the journey ahead.

Well done Jessica, we are so delighted for you. Enjoy all your celebrations – so well deserved!

Keep up the hard work! 😊

29/05/2026

UK: HMRC company car advisory fuel rates from 1 June 2026

These HMRC rates only apply to:-
• Reimburse employees for business travel in their company cars; or
• Require employees to repay the cost of fuel used for private travel

Electric cars - from 1 June 2026 the advisory electric rates for fully electric cars will be:-
• 7p per mile for home charging
• 15p per mile for public charging

Electricity is not a fuel for car fuel benefit purposes.

When employees are reimbursed up to the advisory fuel rates for business travel in their company cars, HMRC will accept there is no taxable profit and no Class 1A national Insurance arising.

Hybrid cars are treated as either petrol or diesel cars for this purpose.

HMRC reviews these rates quarterly.

26/05/2026

UK: P60 Deadline for 2025/26 – 31 May 2026

Employers must provide employees with their 2025/26 P60 by this Sunday, 31 May 2026, either in paper or electronic format.

A P60 outlines an employee’s total pay and deductions for the tax year. It must be issued to all employees who were on the payroll as of the final day of the tax year, 5 April 2026.

Employers who are exempt from submitting payroll information online can request P60 forms directly from HMRC.

07/05/2026

UK: Clarifying UK VAT return deadlines

HMRC are seeing more late VAT returns when the deadline falls on a weekend or bank holiday. Some businesses and agents believe returns can be submitted the next working day. This is not correct.

VAT return deadlines do not change if they fall on a weekend or bank holiday. HMRC accepts VAT returns on weekends and bank holidays. Late submissions may lead to penalties. If you cannot submit on those days, you should submit and pay by the last working day before the deadline.

Need assistance with your VAT returns? Our dedicated Farrell & Farrell team is here to help.

Contact us today.
Tel: 028 406 30876
https://www.farrellca.com/contact
Email: [email protected]

01/05/2026

Our office will be closed on Monday 4th May 2026.

10/04/2026

UK: Consultation: Minimum wage rates from April 2027

The government is asking for views on planned increases to minimum wages rates from April 2027.

The Low Pay Commission, which advises on minimum wage levels, wants feedback from businesses and workers to help shape its recommendations later this year.

Topics included:
• impacts of the National Living Wage
• experience of those on low pay over the past year
• young people
• apprentices
• compliance and enforcement
• accommodation offset
• economic outlook

You don’t need to answer everything – just the areas most relevant to you.

How to respond:
Fill out the online form or email: [email protected]

Deadline: 26 June 2026, 11:59pm

03/04/2026

Wishing you a Happy Easter.

Our office will be closed Monday 6th April & Tuesday 7th April.

01/04/2026

UK National Minimum Wage increase – 1 April 2026

See below a summary of the new NMW rates effective from 1 April 2026:-

Age 21 and over - £12.71
Age 18-20 - £10.85
Under 18 (except apprentices) - £8.00
Apprentices (conditions apply) - £8.00
Accommodation rate offset - £11.10

Deductions from earnings must not reduce pay below the relevant NMW rate.

A breach of this legislation is a criminal offence therefore review your payroll records to ensure that you are fully compliant with the relevant hourly rates.

UK Statutory Sick Pay changes – 6 April 2026

There are a number of changes to Statutory Sick Pay (SSP) with effect from 6 April 2026 as follows:-

• The flat rate of Statutory Sick Pay (SSP) will increase to £123.25 per week.
• SSP will be payable from day one, the 3 waiting days will no longer be applicable.
• Employees will no longer need to meet the Lower Earnings Limit (LEL) to qualify for SSP.
• SSP will be paid at either the statutory flat rate of £123.25 per week OR 80% of normal/average weekly earnings, whichever is lower.

Address

35 Main Street
Newry
BT345UJ

Telephone

+442840630876

Website

http://www.farrellca.com/

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