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

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.

16/03/2026

Happy St. Patrick’s Day!

Our office will be closed on Tuesday, 17th March.

11/03/2026

UK: Apply for up to £30,000 Concept Plus Grants

Entrepreneurs and businesses in Northern Ireland can apply for Concept Plus Grants worth up to £30,000 to develop new ideas into products or services. The funding is delivered by Techstart Ventures with support from Invest Northern Ireland.

Who can apply
You can apply as a sole trader, a partnership or a limited company if you:
• are based and registered in Northern Ireland
• have an innovative or novel idea to prove
• are the founder or (for limited companies) a director and majority shareholder

Community Interest Companies, social enterprises and university owned companies are not eligible.

Funding:
Up to £30,000 for product development, testing and market research. Limited companies can use up to 30% for founder pay (£200 per day). Remaining funds can cover third-party costs like design, testing or market research.

Successful applicants must complete an Innovate Assessment with Innovate NI before receiving funding.

How to apply:
Apply online through the Techstart portal. Shortlisted applicants will be invited to a pitch session with Techstart Ventures.
Deadline: 5pm on Tuesday 21 April 2026.

The Concept Plus Grant is part of Techstart Ventures' Proof of Concept Fund, which also includes smaller grants of up to £15,000, and a Female Founders Grant Competition run with Women in Business NI.

09/03/2026

UK: Dragons’ Den funding opportunity for social enterprises

Social enterprises can apply for £4,000 Dragon’s Den-style funding opportunity to support new or early-stage ideas. The programme is run by Social Enterprise NI (SE NI) with support from Tenancy Deposit Scheme NI.

Successful applicants will pitch their idea for a £4,000 tax-free award to help grow their organisation and increase social impact.

Who can apply: Social enterprises at any stage of development.

What you need to show:
• How the funding will help your organisation grow.
• The social impact you expect to create.
• Your commitment to your organisation’s mission.

Event details:
Date: Wednesday 25 March 2026, 10am – 2pm
Venue: Newry Leisure Centre, 60 Cecil Street, Newry BT35 6AU
Cost: Free

Submit your idea and explain the social impact you plan to deliver for a chance to pitch at the event.
Register your place:
https://www.events.nibusinessinfo.co.uk/en/events/dragons-den-event-partnering-for-impact-newry/

Deadline: Wednesday 18 March 2026 at 3pm.

Address

35 Main Street
Newry
BT345UJ

Telephone

+442840630876

Website

http://www.farrellca.com/

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