Number Crunchers (Sheffield) Ltd

04/07/2026

19/06/2026

Tax on Rental Income – What Landlords Need to Know 🏠💷

If you earn income from renting out property, it's important to understand your tax responsibilities and the reliefs available to help reduce your tax bill.

✅ The first £1,000 of rental income each tax year may be covered by the Property Allowance.

✅ Tax is usually paid on your rental profit, not the total rent received. You can normally deduct allowable expenses such as:
• Letting agent fees
• Insurance
• Repairs and maintenance
• Utility bills
• Service charges
• Accountancy fees
• Advertising costs

⚠️ Remember: Improvements that significantly enhance a property are generally treated as capital expenditure and cannot be claimed as day-to-day expenses.

🛋️ Landlords may also be able to claim Replacement of Domestic Items Relief when replacing items such as beds, carpets, curtains, sofas and white goods provided for tenants.

📋 If your rental income exceeds the allowance, you may need to register for Self Assessment and report your income to HMRC.

📈 If you own multiple rental properties, income and expenses are usually combined to calculate your overall profit or loss. Any losses can generally be carried forward and offset against future rental profits.

🔍 Every landlord's circumstances are different. If you're unsure what expenses you can claim or whether you need to complete a tax return, get in touch with us for advice.

23/05/2026

🚗 HMRC Mileage Allowance Update 🚗

Good news for employees and businesses — HMRC has announced updated mileage allowance rates for 2026/27, including an increase to the Approved Mileage Allowance Payment (AMAP) for cars and vans.

✅ 55p per mile for the first 10,000 business miles
✅ 25p per mile thereafter

HMRC has also updated its Advisory Fuel Rates for company cars from 6 April 2026, including revised rates for petrol, diesel, LPG and electric vehicles.

If you claim business mileage or reimburse employees for travel, now is the perfect time to review your mileage records and expense policies to ensure they’re up to date.

Need help understanding how the changes affect you or your business? Get in touch with Number Crunchers (Sheffield) Limited — we’re happy to help.

21/05/2026

💼 SELF-EMPLOYED NATIONAL INSURANCE – WHAT YOU NEED TO KNOW 💼

If you’re self-employed, you’ll usually need to pay Class 4 National Insurance contributions (NICs) if your profits are £12,570 or more per year.

📌 Current Class 4 NIC rates:
✔️ 6% on profits between £12,570 and £50,270
✔️ 2% on profits over £50,270

Some people are exempt from paying Class 4 NICs, including:
🔹 Under 16s
🔹 Those over State Pension age at the start of the tax year
🔹 Certain trustees, executors and administrators

Since 6 April 2024, mandatory Class 2 NICs have been abolished for the self-employed. However, making voluntary Class 2 contributions can still be worthwhile for some people, helping protect entitlement to benefits such as the State Pension.

📌 Voluntary Class 2 NICs for 2026/27 are £3.65 per week.

This may be particularly relevant for certain self-employed individuals who do not pay NICs through self-assessment, including:
✔️ Examiners
✔️ Moderators
✔️ Invigilators
✔️ Ministers of religion without a salary

Before making voluntary contributions, it’s important to check whether this would benefit your individual circumstances.

24/04/2026

📢 Self-Assessment 2025–26: Don’t Leave It Too Late

The 2025–26 tax year ended on 5 April 2026, which means it’s time to start thinking about your self-assessment tax return.

The deadline for filing online is 31 January 2027 — and this is also when any tax due must be paid, along with your first payment on account for 2026–27.

While that might feel a long way off, there are real advantages to getting your return done early:

✔️ Know exactly how much tax you owe sooner
✔️ Plan ahead and budget with confidence
✔️ Receive any refund more quickly
✔️ Avoid the January rush and last-minute stress

Filing early doesn’t mean paying earlier — it simply puts you in control.

If you’d like help getting started, feel free to get in touch.

10/04/2026

📢 Working from Home – Tax Relief Changes from April 2026

From the 2026–27 tax year, the rules on claiming tax relief for working from home are tightening.

👉 What’s changing?
Most employees will no longer be able to claim tax relief for homeworking unless it is a requirement of their job (not just a personal choice or flexible arrangement).

👉 Who can still claim?
You may still be eligible if:

Your job requires you to work from home, or
Your employer does not provide a suitable workplace

👉 What can be claimed?

Additional household costs (e.g. extra gas/electricity, business calls)
Either £6 per week flat rate or actual costs (with evidence)

❌ You cannot claim for shared personal costs like rent or broadband.

💡 Good news: You can still make claims for the previous 4 tax years, so it’s worth checking if you’re due anything.

🔗 Claims can be made via HMRC or through your self-assessment tax return.

These changes bring us back to pre-pandemic rules, where relief is only available when working from home is required, not optional.

If you’re unsure whether you qualify, feel free to get in touch.