Pi Accountancy Swindon

16/06/2026

Have you heard the new Accounts Filing rules?

The Government has confirmed major changes to the accounts filing rules, with changes taking effect from April 2028.

🧩 Small companies and micro-entities must file Profit and Loss accounts
🧩 All companies must file accounts using commercial software
🧩 Companies must submit full accounts instead of Abridged Accounts
🧩 Companies that claim audit exemption must provide a stronger statement to confirm their eligibility
🧩 Companies must submit all parts of their accounts together
🧩 Companies will face limits on how often they shorten their accounting period

While April 2028 may seem distant, businesses that act now will face fewer challenges later.

11/06/2026

Do you use Double Entry Bookkeeping?

With Double Entry Bookkeeping, every transaction gets recorded twice:
🧩 One entry appears as a debit
🧩 One entry appears as a credit

This shows how each transaction affects your business in two ways.

The most important thing is that your total debits always equal your total credits.

This ensures that your books always stay balanced.

10/06/2026

Do you know how Debits and Credits work?

Every financial transaction has two sides, one side records a Debit and the other records a Credit.

Debits increase assets and expenses; while Credits increase liabilities, equity and revenue.

Double Entry Bookkeeping requires at least one debit and one credit of equal value.

This keeps records accurate and balanced, which makes them more reliable.

09/06/2026

When was the last time you checked your tax code?

You can check your tax code in the following places:
🧩 Your payslip
🧩 The HMRC app
🧩 In your online personal tax account
🧩 On a tax code notice letter from HMRC

A tax code includes both numbers and letters, with the most common tax code being 1257L.

Here, the number “1257” represents £12,570 of tax-free income and the letter “L” confirms that you receive the standard Personal Allowance.

Your tax code may change when your income or personal situation changes.

It is also not uncommon to have more than one tax code, usually when you work multiple jobs.

04/06/2026

How well do you understand National Insurance?

You pay National Insurance when you work and earn above certain thresholds.

The amount you pay depends on your earnings and how much you earn above the threshold.

You pay National Insurance until you reach State Pension age.

Read our dedicated post for more: https://pi-accountancy.co.uk/2026/06/02/what-is-national-insurance/

National Insurance is a tax on earnings, which employees and the self-employed pay when they work and earn above the certain limits.

03/06/2026

Do you know what Trivial Benefits are?

Trivial benefits are small gifts or perks an employer gives to an employee.

To qualify as a trivial benefit, it must meet all of the following conditions:
🧩 It costs £50 or less (including VAT)
🧩 It is not cash or a cash voucher
🧩 It is not a reward for work or performance
🧩 It is not included in the employee’s contract

If the benefit meets all of these conditions, it remains fully exempt from tax.

Read our dedicated post for more: https://pi-accountancy.co.uk/2024/06/13/trivial-benefits-explained/

Trivial benefits are small gifts or perks an employer gives to an employee. They offer a simple and effective way to reward employees.

02/06/2026

Do you know what Small Business Rate Relief is?

This relief helps eligible businesses reduce the amount of Business Rates they pay.

The amount you pay depends on your property’s rateable value, which is the estimated annual rental value of a commercial property.

The relief does not apply to empty properties, and you cannot claim it and Charitable Rate Relief at the same time.

Read our dedicated post for more: https://pi-accountancy.co.uk/2026/06/02/small-business-rate-relief/

Small Business Rate Relief helps businesses reduce the amount of Business Rates they pay, depending on their property's rateable value.

28/05/2026

Do you understand Statutory Sick Pay?

Statutory Sick Pay provides a basic level of income when illness or injury prevents an employee from working.

UK law requires employers pay Statutory Sick Pay to eligible employees.

Statutory Sick Pay ends when you return to work, reach the 28-week limit or stop meeting the eligibility rules.

Read our dedicated post for more: https://pi-accountancy.co.uk/2026/05/28/statutory-sick-pay-ssp/

Statutory Sick Pay, or SSP, provides a basic level of income when illness or injury prevents an employee from working.

27/05/2026

Do you know what IR35 is?

IR35 is the common name for off-payroll working rules.

These rules mainly target situations where a worker provides services through an intermediary, usually a limited company.

The question always remains the same: Would the worker count as an employee for tax purposes if they worked directly for the client?

Read our dedicated post for more: https://pi-accountancy.co.uk/2026/05/15/ir35-off-payroll-working-rules/

IR35 remains one of the most discussed topics in the contracting sector. Learn how the off-payroll working rules work and what they mean.

26/05/2026

Do you know what P11Ds and P11D(b)s are?

A P11D reports Benefits In Kind and certain expenses provided to employees or directors during the tax year.

While the P11D shows the benefits each employee received, the P11D(b) summarises the total taxable benefits provided across the business.

The submitted information allows HMRC to calculate how much tax employees should pay on the benefits they receive.

Read our dedicated post for more: https://pi-accountancy.co.uk/2026/05/21/p11d-and-p11db-explained/

A P11D reports Benefits In Kind and certain expenses provided to employees or directors during the tax year to HMRC.