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Hub Chartered Accountants

At Hub Chartered Accountants, we work alongside entrepreneurs to help their businesses grow with confidence.

We go beyond the numbers, offering strategic advice that supports smart decisions and long-term success.

11/06/2026

📢 Major Companies House Reform Confirmed – Effective April 2028

After months of consultation and industry feedback, the government has confirmed that small companies and micro-entities will be required to file both a Balance Sheet and Profit & Loss Account with Companies House from 1 April 2028.

However, there is an important concession:

Small companies and micro-entities will be able to opt out of publishing their Profit & Loss Account on the public register.

This addresses longstanding concerns around commercial confidentiality and the competitive risks of making detailed financial information publicly available.

Other key changes include:

🔹 Abridged accounts will be abolished
🔹 All accounts must be filed digitally using commercial software
🔹 Mandatory filing in iXBRL format for all UK registered companies
🔹 Paper and web-based accounts filing will be withdrawn
🔹 Stronger audit exemption eligibility statements will be required
🔹 Accounts and reports must be filed together as a complete package
🔹 Restrictions will be introduced on shortening accounting reference periods

Notably, the government has dropped plans requiring small companies to file a director’s report.

The reforms represent a significant shift towards digital reporting and enhanced transparency, while balancing the privacy concerns of smaller businesses.

Companies House will provide further guidance on how businesses can opt out of P&L publication ahead of implementation.

What are your thoughts on the changes?

05/06/2026

Reminder for the weekend 🌿

It’s easy to carry the week with you — the emails, the to-do lists, the “just one more thing.”

But stepping away, even for a short while, is where real clarity and energy come back.

Switch off. Take a breath.

Spend time doing something that recharges you — whether that’s getting outside, enjoying a quiet moment with a cup of tea, or simply slowing the pace.

At Hub Accountants, we are taking this advice ourselves — and we are already sharing our weekend plans to make sure we truly switch off and recharge.

What are you doing this weekend to recharge?

03/06/2026

⚠️ VAT Reminder for Businesses ⚠️

There has been a rise in late VAT return filings – often due to misleading advice from AI tools and websites.

Here’s what you need to know ⬇️
✅ Deadlines do NOT move if they fall on weekends or bank holidays
✅ HMRC systems do accept submissions on these days
✅ If you can’t submit then, you must file by the last working day before
✅ Payments must also clear HMRC’s account before the due date

Weekends and bank holidays are not accepted excuses for late filing or payment.

Missing deadlines can lead to interest charges and penalties, so having a reliable reminder system is key.

💬 Need help with your VAT returns or unsure about deadlines? Get in touch – we are here to help!

01/06/2026

🌞 Summer Boost for Families & Businesses!

This summer, the government is introducing a temporary VAT reduction from 20% to 5% (25 June – 1 September 2026) to help make family days out more affordable and boost the leisure and hospitality sector.

The reduced rate will apply to children’s meals eaten in restaurants, as well as tickets for cinemas, theatres, and popular attractions like zoos and museums—helping families enjoy more for less during the school holidays.

There’s also good news for businesses and workers, with an increase in the tax-free mileage rate, offering additional support with travel costs.

If you are unsure how these changes may affect you or your business, feel free to get in touch—we’re here to help.

20/05/2026

💡 Can You Charge Interest on a Director’s Loan Account — and Is It Tax Efficient?

If your company owes you money through a credit Director’s Loan Account (DLA), you may be able to charge the company interest on that balance.

In some situations, this can be a tax-efficient way to extract funds from your business — especially when dividends aren’t available.

But there are important rules to follow 👇

✅ The interest rate must be commercially reasonable
✅ The loan should be properly documented
✅ The company may need to withhold basic rate tax and file CT61 returns
✅ Timing matters for corporation tax relief
✅ The director may still need to declare the interest on their Self Assessment tax return

For many owner-managed businesses, this is an overlooked planning opportunity — but getting it wrong can create unexpected tax issues.

If you’re unsure whether charging interest on your DLA is right for your situation, it’s worth taking professional advice before implementing it.

📞 Need help reviewing your Director’s Loan Account or extracting profits tax-efficiently? Get in touch with the team at Hub Accountants.

18/05/2026

📚 Book Recommendation: The Drift by Aynsley Damery

“Businesses don’t collapse. They drift.”

That line from the book perfectly captures Aynsley’s perspective, and it’s exactly why his thinking resonates with so many business owners.

It’s been a pleasure supporting Aynsley on the launch of The Drift. We’ve worked with him over the past three years, and he consistently shares practical, no-nonsense guidance for ambitious businesses and their advisors alike.

The book is packed with clear, actionable advice—focusing on doing the simple things well, consistently, rather than overcomplicating growth.

A strong read for any business owner looking to build clarity, momentum, and sustainable growth. Highly recommended.

15/05/2026

Paul and the team are officially flipping the script on accounting! 🙃✨

The crew had an amazing day checking out the latest tech at Accountex. Of course, they couldn't resist stopping by the Xero booth for a quick gravity-defying photo op.

Proof that even when business gets upside down, we always find a way to keep things balanced and fun. 💙

13/05/2026

Why its a good idea to submit your Self Assessment tax return now?

You don’t have to wait until January — you can complete and submit it now, at a time that suits you.

Why submit early?

✅ Get tax refunds sooner
If you’re due a refund, HMRC can process it earlier.

✅ Know what you owe
Submitting early gives you time to budget ahead for the 31 January 2027 payment deadline. You can even set up a Budget Payment Plan to spread the cost.

✅ Less stress
Avoid the January rush and last-minute pressure.

✅ Proof of income
A completed tax return can help support mortgage, loan or benefit applications.

Remember: submitting your tax return early does not mean you need to pay early.

You still have until 31 January 2027 to pay your 2025–2026 Self Assessment tax bill.

08/05/2026

We love receiving feedback like this from our clients ⭐️

Supporting businesses with independent advice, strategic insight, and practical guidance is at the heart of what we do — so it’s always rewarding to hear when our work is making a real difference.

A big thank you to our clients for putting their trust in Paul and the team. We’re proud to be part of your journey and look forward to continuing to support your growth.

05/05/2026

🚨 Landlords: Are you ready for the Renters’ Rights Act?

From 1 May 2026, the biggest change to renting in England for a generation is now in force — and it applies to all tenancies, new and existing.

Here’s what you need to know 👇
🔹 Section 21 abolished – no more “no-fault” evictions
🔹 All ASTs now become periodic tenancies
🔹 Stronger tenant security across the board

📌 What this means for you:
✔️ Review your eviction processes
✔️ Understand the new possession grounds
✔️ Update your internal procedures
✔️ Provide the official Renters’ Rights document to tenants by 31 May 2026 (or risk fines)

💡 If you haven’t already, now’s the time to audit your tenancy agreements and compliance records — and seek professional advice to stay on the right side of the new framework.

Address

6A Fridays Court
Ringwood
BH241AB

Website

http://www.hub.accountants/

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