Spire Accountants

20/08/2026

If you are a landlord earning over £50,000 a year then you are likely to be captured by HMRC's Making Tax Digital for Income Tax initiative.

What is Making Tax Digital (MTD)?

It’s a UK government initiative designed to modernise tax processes, improve accuracy, and reduce fraud.

Here’s what you need to know: (the quick version)

✅ Digital Record-Keeping: Businesses and individuals must keep accurate, up-to-date records using MTD-approved software.

✅ Quarterly Updates: Instead of one annual tax return, MTD requires quarterly updates to HMRC for real-time tax calculations.

✅ HMRC-Approved Software: Say goodbye to manual entries and spreadsheets – all tax submissions must be made via MTD-compliant software.

If you're unsure if it applies to you or it does but you do not what the next step is, contact Spire Accountants to start your Making Tax Digital journey.

Email - [email protected]
Website - www.spireaccountants.net
Phone - 07442202165

17/08/2026

Your business is making less than £90,000 of taxable supplies a year (current VAT sales threshold) and you are not required to register for VAT but you think doing so might be a good idea.

The Pros

(1) Your customers are mainly VAT-registered businesses (they reclaim the VAT you charge).
(2)You incur significant input VAT on expenses/equipment and want to reclaim it.
(3) You want the credibility of being VAT-registered.

The Cons

(1) If you sell to consumers (B2C), adding 20% VAT may make your prices look higher.
(2) More admin: Making Tax Digital (digital records + quarterly returns) applies to all VAT-registered businesses.

If you are contemplating doing this for your business and need advise, why not contact Spire Accountants:

Email - [email protected]
Website - www.spireaccountants.net
Phone - 07442202165

13/08/2026

Feeling confused about all the different taxes you have to pay in the UK? You're not alone! This handy flowchart breaks down the main types of taxes you might encounter. What's the most confusing tax for you?

Let Spire Accountants help you navigate the taxes which are applicable to you and your business. Contact us for a chat via:
Email - [email protected]
Website - www.spireaccountants.net
Phone - 07442202165

07/08/2026

Fun Fact Friday - We are an accountancy practice based in Accrington and specialise in accounting services for small and growing businesses. We have clients all across the UK.

We believe we can add value to you and your business so why not contact us for a chat via:
Email - [email protected]
Website - www.spireaccountants.net
Phone - 07442202165

07/08/2026

From April 2026, sole traders and landlords with turnover above £50,000 from self-employment and property will be required to send quarterly updates using HMRC recognised software in addition to the end of year tax return.

Here’s what you need to know: (the quick version)

✅ Digital Record-Keeping: Businesses and individuals must keep accurate, up-to-date records using MTD-approved software.

✅ Quarterly Updates: Instead of one annual tax return, MTD requires quarterly updates to HMRC for real-time tax calculations.

✅ HMRC-Approved Software: Say goodbye to manual entries and spreadsheets – all tax submissions must be made via MTD-compliant software.

If you're unsure if it applies to you, check here why not get in touch with Spire Accountants:

Email - [email protected]
Website - www.spireaccountants.net
Phone - 07442202165

06/08/2026

Important Tax Dates To Be Aware Of - August

#31 # Last day for submitting the PAYE Settlement Agreement (PSA) figures to HMRC if you want them to guarantee that they will advise you of the tax/NIC due in time to meet the 19 October payment deadline.

We are an accountancy practice based in Accrington and specialise in accounting services for small and growing businesses. We have clients all across the UK.

We believe we can add value to you and your business so why not contact us for a chat via:
Email - [email protected]
Website - www.spireaccountants.net
Phone - 07442202165

06/08/2026

Your Tax Code Looks Wrong

There are a few clues that could indicate that your tax code is wrong, for example:

(1) your take-home pay drops sharply with no change in salary
(2) you’re taxed as if you have two jobs when you only have one
(3) an old employer still appears on your HMRC record
(4) your HMRC record shows benefits that you don’t receive
(5) you’re on an emergency code for longer than expected.

If you think your tax code is wrong or if it hasn’t changed but should have, you should report a change in income.

To do this, you’ll need to

(1) sign in to your tax account using your Government Gateway user ID and password.
(2) use GOV.UK’s Income Tax checker to update your employment details and/or change in income.

If you don’t have an account, you can create one. You need your National Insurance number and a valid form of ID.

Alternatively, you can contact HMRC by phone or post.

After you report your change, HMRC will contact you and your employer or pension provider to let you know they’ve changed your tax code.

Your next payslip should then show your new tax code and any adjustments to your pay if you were paying the wrong amount of tax.

Still have questions about your tax code? Then why not contact us for a chat via:
Email - [email protected]
Website - www.spireaccountants.net
Phone - 07442202165

06/08/2026

Attention parents! 📣

Recently had a pay rise?

If you’re now earning over £60k and you get Child Benefit you may need to pay some of it back.

You can use the new High Income Child Benefit Charge service if you don’t already complete Self Assessment.

It’s quick and easy with the HMRC app or online. 📲

Find out more on the HMRC app or online. ⬇️

https://www.gov.uk/guidance/download-the-hmrc-app?&utm_source=f.co_hmrcgovuk&utm_medium=social&utm_campaign=hicbc&utm_content=q2

06/08/2026

12/05/2026

It’s time for a new kind of finance support.

You don’t need more spreadsheets.
You need visibility. Clarity. Control.

You need someone who knows how to help you move forward
not just report on where you’ve been. You need Spire Accountants.

We help show you:

(1) Where you currently are;
(2) Where you’re heading and
(3) And what decisions you need to make next to get to your goal.

We believe we can add value to you and your business so why not contact us for a chat via:

Email - [email protected]
Website - www.spireaccountants.net
Phone - 07442202165