Morris Accountancy Services

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15/10/2026

Are you self-employed and thinking of getting your first mortgage or renewing your mortgage? If so, you need to start thinking about it well in advance and make me aware if I'm your accountant.

Usually you need 2 years' figures for your application. We can plan to work towards the required figures needed but obviously we can't change the past.

It may be beneficial to use a mortgage advisor or broker, as they would be able to advise which mortgage companies require which documentation. They would also know which mortgage companies would suit you best based on your circumstances.

For those with limited companies, how you structure your salary and dividends could have an impact on being able to prove your income for mortgage purposes.

Myself and any mortgage advisors that I work with are happy to start the discussions well in advance and we are happy to also discuss things directly.

Did you secure a mortgage as a self-employed person? Was it a difficult process?

12/10/2026

A client of mine recently experienced a period of rapid growth in which profits exceeded £1.5 million. This meant that corporation tax needed to be paid in quarterly instalments in advance of the year-end.

Quarterly instalments are based on estimates but the best estimate is to produce accurate management accounts.

In addition to standard end-of-year accounts, management accounts give an accurate snapshot of the business's finances. I prepared these quarterly for my client, which helped with the planning of his finances. He decided to pay lump sums into a pension and as a result has now fallen under the £1.5million threshold.

I continue to produce quarterly management accounts for my client, as they find it beneficial to know how much the business is making, how much tax is payable and make management decisions in real time, on a more regular basis than annually.

If you would like to join my waiting list for when I next take on clients, please follow the link in the comments.

05/10/2026

Are you in this tranche of Making Tax Digital for Income Tax? How did you find submitting your first return in August? How are you finding your tax software? Would you recommend it to others?

This is just a reminder that the second submission is due on 7th November. Are you ready to submit? How have you found the process so far?

29/09/2026

HMRC has reported that more than 436,000 sole traders and landlords had made their first quarterly submission under Making Tax Digital.

Were you one of them? How did you find the process? If you're a client of mine, your submission will obviously have been made on time but how did you find the process?

If you have not yet made your first submission (this was due on 7th August), you can submit it now as there are no late submission penalties for this first year.

If you have not yet signed up and you're one of the people who should be signed up for MTD for the 2026/27 tax year (self-employed people earning over £50k), HMRC will start signing up for you from September. To sign up yourself, go to the HMRC website.

There is new guidance on what to do once you've received a letter from HMRC saying you've been signed up - see the HMRC website for more information.

24/09/2026

If you are newly self-employed and you earned more than £1,000 from your self-employment in the tax year ending 5th April 2026, you must register with HMRC to pay tax by self-assessment by Monday 5th October.

This is a quick and easy process so there's no excuse not to get it done! You may be fined if you don't register in time.

Find out more information on the HMRC website.

22/09/2026

Last week I got back from an amazing long weekend with friends in Benidorm. We stayed in a villa outside the town and it was so lovely to take a little time to relax after the craziness of back to school!

Being able to just wake when I wanted and chill by the pool, plus spending time with great friends, was just what I needed. This group of friends are all accountants who I met at my first job, so I've known some of them 20 years!

I highly recommend taking a break in September once the kids are back at school if you can!

17/09/2026

Are you an employer? Do you have a workplace pension scheme? Do you need to provide one?

In the slides I give you information for employers on workplace pensions. To read more information, including how to set up the pension, managing contributions, re-enrolment and re-declaration, opting in or out and ad hoc things to consider, see my blog.

10/09/2026

If you earn more than £1,000 (this is the Trading Allowance) from additional income such as selling items on Vinted, eBay or Facebook Marketplace, dog-walking, property rental for example, you may need to register for Self Assessment.

To find out if you need to fill in a tax return, there is a checker tool on the gov.uk website. Finding out and filing early means you can spread payments over time, and if you need to speak to HMRC, it's definitely worth trying to do this way before the January rush.

The deadline to submit a Self Assessment tax return online and pay any tax owed for the 2025 to 2026 tax year is 31 January 2027.

The £1,000 threshold for requiring a self-assessment form to be completed is on turnover, rather than profit, however the trading allowance is based on profit. That means that you can deduct expenses before tax is calculated.

04/09/2026

Do you regularly give money to charity?

If you are director of a limited company and your company donates to charity or community amateur sports club (CASC), these donations are deducted from business profits before corporation tax is paid, meaning your corporation tax bill is reduced.

There are some payments which don't qualify. They are:

- loans that will be repaid by the charity
- made on the condition that the charity will buy property from your company or anyone connected with it
- a distribution of company profits (eg dividends)

Any benefits you’re given in return for your donation (eg tickets to an event) must be below a certain value.

This applies to benefits given to any person or company connected with your company, including close relatives.

If you get a benefit that’s related to the company your donation qualifies as a sponsorship payment.

Read more about this on the government website.

Does your company donate to charity?

03/09/2026

And that's a wrap on the summer holidays! We went to the lakes and Disneyland during the holidays and a trip to the farm. Other than that we enjoyed getting outside, making the most of the good stretch of dry weather!

Emily is back to school today and Paige started her new pre-school yesterday! I'm straight into work today with a catch-up with Abby. But I'm having a long weekend away with the girls next weekend as a nice treat for the start of September!

Do you take some time for yourself at the start of September? What will you do?

Address

Stockport
SK26AE

Website

http://www.morrisaccountancyservices.co.uk/

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