Adam Fernandes - The Cloud Accountants

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Adam Fernandes - The Cloud Accountants If you simply want compliance, then we may not be the firm for you.

We pride ourselves in being integrated in your business, whether that's a couple of meetings a year or something more frequent.

WHY DISCLOSURE OF YOUR CRYPTO MATTERS Crypto transactions often generate a large number of taxable events, making record...
20/10/2026

WHY DISCLOSURE OF YOUR CRYPTO MATTERS

Crypto transactions often generate a large number of taxable events, making record-keeping essential. Investors should retain details of purchases, disposals, transfers, fees and wallet addresses.

Importantly, moving crypto between wallets that you beneficially own is generally not a disposal for tax purposes. However, most other transactions may have tax consequences.

With HMRC increasing its focus on crypto compliance, you should review your holdings regularly and ensure that all taxable income and gains are reported correctly on your tax returns.

Seeking advice early can help avoid costly mistakes and provide peace of mind that your crypto tax affairs are fully compliant.

Where an error in a return is discovered, a voluntary disclosure will often produce a better outcome than waiting for HMRC to make contact, so do contact us if you have any concerns: https://www.adamfernandes.co.uk/contact

HOW CRYPTO IS TAXED IN THE UK The UK does not have a separate crypto tax regime. Instead, existing tax rules are applied...
15/10/2026

HOW CRYPTO IS TAXED IN THE UK

The UK does not have a separate crypto tax regime. Instead, existing tax rules are applied depending on the nature of the transaction.

For most private investors, profits are taxed under the Capital Gains Tax (CGT) rules.

A taxable disposal can occur when you:

✅ Sell crypto for cash
✅ Exchange one cryptoasset for another
✅ Use crypto to buy goods or services
✅ Gift crypto to someone other than a spouse or civil partner

Many people are surprised to learn that swapping Bitcoin for Ethereum is a taxable event, even if no cash is received.

Some crypto receipts may instead be subject to Income Tax – for example, rewards from mining and staking. For most, this will be taxed as miscellaneous, not trading income.

CRYPTOASSETS: WHY INVESTORS MUST DECLARE INCOME AND GAINS TO HMRC Cryptoassets have moved into the financial mainstream,...
13/10/2026

CRYPTOASSETS: WHY INVESTORS MUST DECLARE INCOME AND GAINS TO HMRC

Cryptoassets have moved into the financial mainstream, with many individuals now holding Bitcoin, Ethereum, and other digital assets alongside traditional investments.

However, a common misconception is that crypto transactions are anonymous or outside the scope of UK taxation. They are not.

HMRC expects taxpayers to declare taxable crypto income and gains, and failure to do so can lead to interest, penalties and, in serious cases, investigations.

HMRC have published extensive guidance on the taxation of cryptoassets and receives increasing amounts of information from exchanges and other sources.

Starting from the 2026 calendar year, HMRC will receive tax-relevant information on UK-based individuals who have used UK cryptoasset service providers.

If this is something you'd like to discuss with us in more detail, feel free to get in touch: https://www.adamfernandes.co.uk/contact

🏘️ Property and landlords entail managing financial transactions related to real estate ownership and rental activities...
22/09/2026

🏘️ Property and landlords entail managing financial transactions related to real estate ownership and rental activities, including tracking rental income, property expenses, and depreciation.

The Cloud Accountants are property experts, working across both residential and commercial property.

We can help advise across any taxation, legislative and contracting issues that occur.

Our team will provide quality, tailored advice that will make sure you don’t face an unnecessary challenges or surprises.

Our services include:

✅ Property tax guidance
✅ Tax returns and accounts prepared and filed
✅ Setting up the right tax structure for you
✅ Tax strategy for letting businesses and property developers
✅ Advice on building a property portfolio

🔗 Get in touch to find out more about our property and landlord services: https://www.adamfernandes.co.uk/contact

🏗️ Construction in accounting involves tracking financial transactions for building projects, including costs, budgets, ...
17/09/2026

🏗️ Construction in accounting involves tracking financial transactions for building projects, including costs, budgets, and progress reporting.

At The Cloud Accountants we're experts in construction, which can be a complicated industry to operate in.

We have experience in dealing with numerous contractors across the UK, providing taxation advice specifically regarding the Construction Industry Scheme (CIS).

It's important to note that CIS rules still apply even if your business is based outside the UK, but you carry out construction work as a contractor or subcontractor in the UK.

We can help you with:

‍✅ HMRC registration
✅ On-time payments within CIS and avoid penalties
✅ Keep you accounts in order
✅ Updating you with any changes to CIS

Talk to our team to find out how we can help you with CIS and let us take the hassle away from you: https://lnkd.in/d-2EhwEc

🚗 ADVISORY FUEL RATES FOR COMPANY CARS The table below sets out the HMRC advisory fuel rates from 1 September 2026. Thes...
15/09/2026

🚗 ADVISORY FUEL RATES FOR COMPANY CARS

The table below sets out the HMRC advisory fuel rates from 1 September 2026. These are the suggested reimbursement rates for employees' private mileage using their company car.

Where the employer does not pay for any fuel for the company car, these are the amounts that can be reimbursed in respect of business journeys without the amount being taxable on the employee.

Previous rates are shown in brackets.

You can also continue to use the previous rates for up to one month from the date the new rates apply.

Note that for hybrid cars, you must use the petrol or diesel rate.

For fully electric vehicles the rate is 7p (7p) per mile where the vehicle is charged at home. The rate applicable to vehicles charged using public facilities is 15p (15p) per mile.

EMPLOYEES USING THEIR OWN CARS
For employees using their own cars for business purposes, the Approved Mileage Allowance Payment (AMAP) tax-free reimbursement rate was increased on 6 April 2026 to 55p per mile (plus 5p per passenger) for the first 10,000 business miles, reducing to 25p per mile thereafter. Note that for NIC purposes the employer can continue to reimburse at the 55p rate regardless of mileage as the 10,000 mile threshold does not apply.

INPUT VAT
Within the 55p/25p AMAP payments, the amounts in the above table represent the fuel element. The employer is able to reclaim 20/120 of the fuel amount as input VAT provided the claim is supported by a VAT invoice from the filling station. For a 1500cc diesel-engine car, 2.5 pence per mile can be reclaimed as input VAT (15p x 1/6).

MAKING TAX DIGITAL FOR INCOME TAX: AN UPDATE Making Tax Digital (MTD) for Income Tax became mandatory from 6 April 2026 ...
10/09/2026

MAKING TAX DIGITAL FOR INCOME TAX: AN UPDATE

Making Tax Digital (MTD) for Income Tax became mandatory from 6 April 2026 for sole traders and landlords with combined gross income from self-employment and property exceeding £50,000, based on their 2024/25 tax return. Qualifying income is measured before expenses are deducted.

The scope of MTD will widen in future years:

✅ From April 2027, it will apply to those with qualifying income above £30,000
✅ From April 2028, it will apply to those with qualifying income above £20,000

Under MTD, affected taxpayers must keep digital records and submit quarterly updates to HMRC using compatible software, together with an end-of-year submission.

HMRC has recently announced that they will begin automatically signing up taxpayers from September 2026 where they believe the taxpayer should already be using MTD but has not yet registered.

The sign-up process will be carried out in stages and could affect around 294,000 taxpayers. HMRC says that they will notify the taxpayer once they have been signed up.

If you receive a letter or digital notification from HMRC, do not ignore it. You should review your MTD status immediately, check that HMRC's information is correct, and ensure you have suitable MTD-compatible software in place. If you believe you qualify for an exemption, or HMRC's records are incorrect, action should be taken promptly.

🔗 If you're unsure whether MTD applies to you, need help selecting software, or have received an HMRC sign-up notification, please contact us at: https://www.adamfernandes.co.uk/contact

We can review your position, ensure you meet your obligations and help you establish a compliant and efficient MTD process.

⏰ BENEFITS IN KIND: MANDATORY PAYROLLING FROM 6 APRIL 2027 – PART TWOWHAT SHOULD EMPLOYERS BE DOING NOW? If you have emp...
08/09/2026

⏰ BENEFITS IN KIND: MANDATORY PAYROLLING FROM 6 APRIL 2027 – PART TWO

WHAT SHOULD EMPLOYERS BE DOING NOW?

If you have employees in receipt of BiKs, we recommend that you:

✅ Compile a complete list of all benefits currently reported on P11Ds
✅ If you carry out your own payroll reporting, review whether your payroll software can support real-time BiK reporting from April 2027
✅ Consider how you will deal with joiners, leavers and changes in benefit values during the year
✅ Establish procedures for managing underpayments and overpayments
✅ Develop an employee communication plan explaining how the changes will affect tax deductions and tax codes

Although the first mandatory reporting deadline is still several months away, employers that start preparing now are likely to face a much smoother transition when the new regime takes effect in April 2027.

🔗 If you have any questions at all relating to these changes or would like our help transitioning, please feel free to reach out either via a DM or contact the team at: https://www.adamfernandes.co.uk/contact

⏰ BENEFITS IN KIND: MANDATORY PAYROLLING FROM 6 APRIL 2027 – PART ONEMandatory payrolling of benefits in kind (BiKs) wil...
03/09/2026

⏰ BENEFITS IN KIND: MANDATORY PAYROLLING FROM 6 APRIL 2027 – PART ONE

Mandatory payrolling of benefits in kind (BiKs) will begin from 6 April 2027, with a phased introduction designed to give employers and payroll providers time to adapt.

Under the first phase, covering the 2027/28 tax year, mandatory payrolling will apply to:

✅ Company cars
✅ Company car fuel
✅ Vans
✅ Van fuel
✅ Private medical benefits

These benefits will need to be reported through payroll in real time rather than being reported after the end of the tax year on form P11D.

Mandatory payrolling will then be extended to most other benefits and expenses from April 2028.

HMRC has confirmed that employers will be able to register voluntarily from November 2026 to payroll other benefits not included in the first phase, such as beneficial loans and living accommodation.

The change will affect employees as well as employers.

Employees who currently pay tax on benefits through adjustments to their tax codes will instead pay the tax in real time through PAYE.

Some employees may also be paying tax on BiKs from earlier years at the same time, which could create confusion about their take-home pay. HMRC is encouraging employers to communicate these changes well in advance.

🔗 If you have any questions at all relating to these changes, please feel free to reach out either via a DM or contact the team at: https://www.adamfernandes.co.uk/contact

🛑 HMRC TARGETS SIDE HUSTLE INCOME HMRC has launched a fresh summer campaign reminding people with "side hustles" that ex...
01/09/2026

🛑 HMRC TARGETS SIDE HUSTLE INCOME

HMRC has launched a fresh summer campaign reminding people with "side hustles" that extra income may need to be reported for tax purposes.

The announcement specifically highlights people earning income from wedding services, online selling, content creation, freelancing and similar activities.

The key figure remains the £1,000 trading allowance.

If total income from side activities exceeds £1,000 during the tax year, there may be an obligation to register for Self-Assessment and declare the income to HMRC.

This is particularly relevant because HMRC now receives increasing amounts of information from digital platforms. Data from marketplaces and gig economy platforms can be matched against tax returns, making it easier for HMRC to identify undeclared income.

Importantly, not everyone selling online has a tax problem.

Selling unwanted personal possessions is generally not taxable. However, regularly buying or making goods to sell, or providing services for payment, is likely to be treated as trading.

If you have a side hustle, you should:

✅ Review any additional income streams

✅ Check whether total trading income exceeds £1,000

✅ Register for Self-Assessment if required

✅ Keep proper records from the outset rather than trying to reconstruct them later

Early disclosure is almost always easier and cheaper than dealing with an HMRC enquiry.

🔗 If you'd like to discuss this in more detail, get in touch. One of the team will be happy to chat with you ways we can support you: https://www.adamfernandes.co.uk/contact

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