GTA Accounting

GTA Accounting Accountants in Petersfield, Hampshire. Helping individuals and businesses every step of the way.

WE ARE A MODERN, PERSONABLE ACCOUNTANCY AND ADVISORY COMPANY, WITH A FRESH AND MODERN FOCUS ON SERVICES SO WE GET TO KNOW OUR CLIENTS BUSINESSES AND GOALS.

We’ve all had the thought... 👀“I wonder if the business can pay for that?”Sometimes the answer is no.But sometimes... th...
16/07/2026

We’ve all had the thought... 👀

“I wonder if the business can pay for that?”

Sometimes the answer is no.

But sometimes... the tax rules are kinder than you might think.

Take trivial benefits, for example.

If you’re a limited company, you may be able to provide small gifts without creating a tax bill, provided a few conditions are met:

✔️ They cost £50 or less.
✔️ They aren’t cash or a cash voucher.
✔️ They aren’t a bonus or reward for doing the job.
✔️ They aren’t included in someone’s contract.

So if you are a director, you may be able to treat yourself from time to time, although separate limits can apply.

Before you assume the answer is no (or yes!), it’s always worth asking your accountant. There are plenty of perfectly legitimate tax rules that business owners don’t realise exist.

14/07/2026

Thinking about getting the team together this summer?

Whether it's a BBQ, a meal out or an afternoon in the sunshine, there's a tax rule that many employers don't realise they can take advantage of.
Most people have heard of the Christmas party allowance, but it's not just for December.

You can also use it for summer staff events.

Here's what you need to know:
• You can spend up to £150 per person, per tax year.
• That £150 covers all staff events combined, not each event.
• The event needs to be open to all employees.
• The cost can include food, drinks, entertainment and venue hire.

So, if you're planning a summer celebration, you don't have to save the entire allowance for Christmas. You can split it across more than one event, as long as you stay within the annual limit.

It's a lovely way to thank your team, enjoy some time together and, if the rules are met, do it in a tax-efficient way.

If you're planning a staff event and you're not sure what qualifies, DM us SUMMER and we will support you 🍹

13/07/2026

If you're self-employed or a landlord with an income over £50,000, your first Making Tax Digital deadline is getting close.

The first quarterly update is due by 7 August 2026.

Making Tax Digital is HMRC's new way of reporting Income Tax. Instead of sending everything after the end of the tax year, you'll now need to keep digital records and send updates every three months using compatible software.

If you're looking for MTD-compatible software, we often recommend to our clients. It's designed to make keeping digital records and submitting quarterly updates much more straightforward.

Not sure if Making Tax Digital applies to you, or you're unsure what you need to do before 7 August? Get in touch. We'd be happy to help.

10/07/2026

Happy Friday 😌

08/07/2026

We’ve all had the thought... 👀

“I wonder if the business can pay for that?”

Sometimes the answer is no.

But sometimes... the tax rules are kinder than you might think.

Take trivial benefits, for example.

If you’re a limited company, you may be able to provide small gifts without creating a tax bill, provided a few conditions are met:

✔️ They cost £50 or less.
✔️ They aren’t cash or a cash voucher.
✔️ They aren’t a bonus or reward for doing the job.
✔️ They aren’t included in someone’s contract.

If you’re a director, you may even be able to treat yourself from time to time too, although separate limits can apply.

Before you assume the answer is no (or yes!), it’s always worth asking your accountant. There are plenty of perfectly legitimate tax rules that business owners don’t realise exist.

07/07/2026

Have you submitted your P11Ds?
If so, don’t forget there’s one more step.

If you’ve provided employees with taxable benefits, such as a company car or private medical insurance, you may also have Class 1A National Insurance to pay.

The deadline for electronic payments is 22 July.
Most employers pay through online banking, but there’s one detail that’s easy to overlook.

When you make the payment, you’ll need to use your Accounts Office reference number, followed by 2313 at the end. This tells HMRC exactly what the payment is for.

Using the wrong reference doesn’t usually stop the payment reaching HMRC, but it can make it harder for them to match it to the correct account.

Before you hit send, take a minute to double-check the reference you’ve entered.

If you’re not sure whether you need to make a payment, how much you owe or which reference to use, get in touch before the deadline. We’d be happy to help.

04/07/2026

Have you given your employees any benefits or expenses this tax year?
If you have, there's an important deadline just around the corner.

6 July 2026 is the deadline to:
• Submit any required P11D forms.
• Submit your P11D(b).
• File an Employment Related Securities (ERS) annual return, where applicable.

It's easy to think everything is finished once the tax year comes to an end, but for many employers, there's still a little more to do.

Missing the deadline could lead to penalties, so it's worth taking a few minutes to make sure everything has been completed and submitted.

If you're not sure whether your business needs to file a P11D, a P11D(b) or an ERS return, don't leave it until the last minute. We'd much rather answer the question now than help untangle a problem later.

03/07/2026

Giving your team the occasional perk?

There's an important deadline coming up that many employers don't realise applies to them.

If you provide employees with certain benefits or expenses that don't usually go through payroll, you may need a PAYE Settlement Agreement (PSA).

The deadline to apply for a new PSA, or amend an existing one, for the 2025/26 tax year is 5 July.

A PSA allows employers to pay the Income Tax and National Insurance due on certain minor, irregular or impracticable employee benefits directly to HMRC, rather than reporting them individually through payroll or on a P11D.

Depending on your business, this could include things like staff entertaining or certain one-off employee benefits.

If you think a PSA might apply to your business, it's worth checking before the deadline passes. Once it's gone, it may be too late for it to apply to the 2025/26 tax year.

Not sure whether you need one? Get in touch. We'd be happy to talk it through.

Be honest…Has the heat completely thrown you off this week?We’ve spoken to loads of business owners over the last few da...
28/06/2026

Be honest…

Has the heat completely thrown you off this week?

We’ve spoken to loads of business owners over the last few days and it’s been the same conversation every time.

“It’s just too hot to think.”

Some have escaped to the beach with the kids. Some have been hiding in air-conditioned offices. Others have been trying to work from the garden.

Whatever your week has looked like, we get it.

Sometimes you just have to roll with it.

The good news is we’re heading into a much cooler week 😮‍💨

If you’re starting to get the Sunday scaries, or you’ve opened your laptop and instantly felt overwhelmed by everything that’s piled up, we’d encourage you to spend just half an hour looking at these five things.

It might feel like you’re putting off the jobs shouting the loudest, but you’re doing the opposite.

When you know where your business stands financially, everything else feels much more manageable. You’ll stop second-guessing yourself, you’ll know what needs your attention first, and you’ll probably find you get through the rest of your to-do list much faster.

Sometimes the hardest part is simply knowing where to start.

So start here.

1. Is your cash flow where you expected it to be?
2. Are your profit margins still healthy?
3. Have your costs crept up without you really noticing?
4. Are your customers paying you on time?
5. Are you still on track with the goals you set at the start of the year?

Simple questions. Big impact.

So many business owners are so busy keeping everything moving that they rarely stop to check whether the business is moving in the right direction.

Sometimes just taking a step back for thirty minutes gives you the clarity you need for the months ahead.

So if this week hasn’t been your most productive, don’t worry about it.

Enjoy the rest of your weekend, save this post and let tomorrow be your reset.

P.S. We’ve spent as much time as possible at Petersfield Open Air Swimming Pool this week and what a gem it is. Massive thank you to everyone who keeps it running, especially the lifeguards who have been working so hard in this heat. We’re incredibly lucky to have somewhere like that on our doorstep.

Address

Johnsons Barns Waterworks Road
Petersfield
GU322BY

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 5pm

Website

Alerts

Be the first to know and let us send you an email when GTA Accounting posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Contact The Business

Send a message to GTA Accounting:

Shortcuts

Share