Croft Accountancy Services

28/05/2026

HMRC have raised the Approved Mileage Allowance Payment (AMAP) rate from 45 pence per mile to 55 pence per mile. The new rate can be backdated to 6 April 2026.

Employees, directors, self-employed or partners who use a private car or van for business travel, can claim the new rate and can adjust previous claims from the 6 April 2026.
On 10,000 miles that's an extra £1,000 tax free which could make a big difference for those who drive regularly.

The rates per business mile that can be claimed for the 2026-27 tax year are:
Cars and goods vehicles first 10,000 miles 55p
Cars and goods vehicles after 10,000 miles 25p
Motorcycles 24p

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16/04/2026

Are you aware of the changes to Statutory Sick Pay. This article from FSB explains perfectly.

This month marked the most significant reform to statutory sick pay since the system was restructured in 1985. Here are the top 3 things you need to know as an employer:

1. The three-day SSP waiting period has been removed

2. The lower earnings limit has been scrapped

3. SSP is now calculated differently for lower earners

For a more in-depth look, including how to calculate SSP under the new rules, be sure to check out our comprehensive article: https://go.fsb.org.uk/SSPchanges2026

15/04/2026

Making Tax Digital for Income Tax is here. 📢

If your combined turnover from property and self-employment is more than £50,000, you’ll need to start keeping digital records and send quarterly updates (first deadline is 7 August).

Check if Making Tax Digital applies to you and sign up today. ⬇️

https://makingtaxdigital.campaign.gov.uk/?&utm_source=f.co_hmrcgovuk&utm_medium=social&utm_campaign=mtd

14/03/2026

End of Tax Year Review
The UK tax year ends on 5 April. Have you reviewed your personal and business finances? Taking time now could save you money and help you start the new tax year in a stronger financial position.
Start by reviewing your total income from all sources, this helps you to understand:
1.If you’ve moved into a higher tax bracket.
2. If additional planning such as pension contributions could reduce your taxable income.
3.Whether payments on account may apply.

Second, making use of your tax allowances before the 5 April can reduce your overall tax liability:
1.ISA allowance – Contributions up to the annual limit grow tax-free.
2.Capital Gains Tax allowance – Consider selling assets strategically to use the exemption.
3.Dividend allowance – Review dividend income from investments or company shares.

Third, maximise pension contributions, these are one of the most effective ways to reduce taxable income while saving for the future. Benefits include:
1.Tax relief on contributions.
2.Potential reduction of higher-rate tax exposure.
3.Long-term retirement planning advantages.

Fourth, check all legitimate business expenses are recorded. Accurate expense tracking ensures you’re not paying more tax than necessary.

Fifth, review Investments to minimize Capital Gains Tax liabilities.

Finally, prepare for the new tax year by planning ahead, this could save time, stress and money later.
1.Are your bookkeeping systems up to date?
2.Do you need to adjust payments on account?
3.Could better financial planning reduce next year’s tax bill?

At Croft Accountancy Services, we complete reviews on a regular basis. Get in touch on 07368624457 or email [email protected]

13/02/2026

Friday fun. I asked Chatgpt for a caricature of what it knew about Croft Accountancy Services, here you go. It's not perfect but I think it did pretty well.
If you're just starting out or already established and looking for an accountant, get in touch. Call Alison 07368 624457 or email [email protected].

01/02/2026

Are you ready for Making Tax Digital for Income Tax?
Need help, get in touch. Call 07368 624457 or email [email protected]

Here's a list of everything you should have to hand to fill in your MTD quarterly updates and final declaration.

23/12/2025

Croft Accountancy Services wishes you a Merry Christmas and a Happy New Year.

Photo by Marek Studzinski on Unsplash

26/11/2025

Budget Summary 2025

Personal Tax
National Living Wage increased to £12.71 per hour from 1 April 2026 for those aged 21 and over. £10.85 per hour for those aged 18-20 and £8.00 for first year apprentices and those aged under 18 years of age.
No changes to personal tax thresholds, income tax or employee’s national insurance. Personal tax thresholds frozen until 2030/31 tax year.
Dividend tax to increase by 2% to from April 2026.
Income Property Tax – separate property tax introduced from April 2027 with rates of 22% basic rate, 42% higher rate and 47% for additional rate payers.
Savings income tax rates to increase by 2% from April 2027.
Salary Sacrifice pension contributions limited to £2,000 per annum from April 2029.
Cash ISA limit for under 65’s reduced to £12,000, remaining £8,000 for investments. Over 65’s remains at £20,000 Cash ISA limit.
Student Loan thresholds frozen for 3 years from April 2027.

Business Tax
A first-year allowance of 40% for main rate assets will be introduced from January 2026, cars, second-hand assets plus assets for leasing overseas will not be eligible.
Writing down allowances reduced to 14% from April 2026.
Business rates to be lower for retail, hospitality and leisure businesses.
Business asset disposal relief will increase from 14% to 18% from April 2026.

Electric Vehicles
Electric Vehicle Excise Duty (eVED) a new mileage supplement for electric and plug in hybrids from April 2028: 3 pence per mile for fully electric and 1.5 pence per mile for plug in hybrids.
Electric car grant and funding for EV charging extended to 2029-30.
Expensive Car Supplement for zero emissions vehicles increased to £50,000 from April 2026.
100% First Year Allowances for Corporation tax on zero emissions cars and charging points extended until 31 March 2027.

Other
High Value council tax charge for residential properties worth £2M+ from April 2028.
Fuel duty, 5p cut extended.
To***co and alcohol duty to rise.
Gambling duty increased from April 2026.
Rail and prescription prices frozen.
Customs Excise Duty payable on low value goods from April 2029.
Motability scheme to be reformed excluding premium cars.
Universal credit 2 child limit removed from April 2026.

For the full details and supporting documents, please click on the government link below:

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01/11/2025

Companies House fee changes from 1 February 2026.
The cost of incorporating a new company will increase to £100 from £50 and completing the annual confirmation statement will increase to £50 online from £34. For a full list of companies house fees, click on the link

❗From 1 February 2026, some of our fees will be changing.

We review our fees every year to make sure they’re set at the right level and reflect the cost of delivering our services.

Read more about the fee changes: https://www.gov.uk/government/news/companies-house-fees-are-changing-from-1-february-2026

16/09/2025

Important information from Companies House for Limited Company directors and Persons of Significant Control.

🪪 Company directors and PSCs can voluntarily verify their identity with Companies House, before it becomes compulsory on 18 November 2025.

Early verification gives you time to resolve any issues and make sure your company will be able to continue filing documents without disruption.

Verify your identity now: https://www.gov.uk/guidance/verifying-your-identity-for-companies-house

21/07/2025

Sign in and send your Self Assessment tax return online.