Myers Clark Chartered Accountants

17/07/2026

After more than 60 years, the P11D is gradually heading towards retirement.

Many employers expected P11Ds to disappear from April 2027, but HMRC has now confirmed a phased approach, giving businesses more time to prepare.

From April 2027, some benefits, including company cars and private medical insurance, will need to be reported through payroll. Most other benefits are expected to follow from April 2028.

The direction of travel is clear: HMRC wants benefits taxed in real time rather than reported after the end of the tax year.

The extra time is welcome, but now is a good opportunity to review your payroll processes, benefit reporting, and employee communications.

Are you ready for the transition away from P11Ds?

Here's the full blog : https://www.myersclark.co.uk/the-p11d-is-being-phased-out-but-not-overnight/

A long-standing employee benefits form is set to disappear. However P11d will not disappear overnight, it will be phased out.

14/07/2026

Simpler Inheritance Tax Reporting for Some Trusts

📋 Could trust administration finally become a little easier?

Among the latest tax consultations are proposals to simplify Inheritance Tax reporting requirements for certain trusts that have no tax to pay.

For trustees and families managing trusts, reducing unnecessary administration would be a welcome development.

Although details are still being explored, it's another sign that the government is reviewing areas where the tax system can be made more efficient.

📞 If you are involved with a trust and want to understand your reporting obligations, speak to our specialist team. Drop a message here and we'll get back to you.

10/07/2026

Income Tax Payments Could Become More Frequent

💷 What if your Self-Assessment tax bill was spread throughout the year?

The government is consulting on plans that could see taxpayers who receive income through PAYE and Self-Assessment paying estimated tax during the year rather than facing large bills after the year-end.

If introduced, the changes could have a significant impact on cash flow planning for landlords, company directors and sole traders.

Whilst many taxpayers may welcome fewer tax shocks, it could mean a fundamental shift in how personal finances are managed.

📞 Unsure how future tax changes could affect your cash flow? Get in touch with our team and we'll help you plan ahead with confidence.

08/07/2026

HMRC Set to Gain Stronger Debt Collection Powers

🚨 Ignoring HMRC could soon become much more expensive.

HMRC is consulting on powers that could allow it to recover certain unpaid tax debts directly from taxpayers’ bank accounts through instalments where repeated attempts to engage have been ignored.

While the proposals are still under consultation, the message is clear: HMRC is becoming increasingly proactive when it comes to collecting unpaid taxes.

For business owners, now is the time to deal with tax issues early, respond to HMRC correspondence and explore options such as Time to Pay arrangements before problems escalate.

📞 Concerned about tax arrears or an HMRC enquiry? Contact us for practical advice and support before matters become more difficult to resolve.

01/07/2026

HMRC's latest AI development, Gov.UK Chat, is another sign that artificial intelligence is becoming part of the future of tax administration.

But before anyone starts worrying that AI is replacing tax advisers, it's worth looking at what the chatbot actually does. Today, it can answer straightforward questions about GOV.UK guidance but it can't access your records, review your documents, or understand the commercial context behind your tax position.

For routine queries, it could become a useful starting point. But when legislation is open to interpretation, circumstances are nuanced, or decisions carry financial risk, professional judgement remains essential.

In our latest blog, we explore what Gov.UK Chat means for taxpayers, businesses and advisers, where it adds value, and where experienced tax advice continues to make all the difference.

Read our take below.

https://www.myersclark.co.uk/hmrc-has-a-chatbot-now-but-would-you-trust-it-with-your-tax/

HM Revenue & Customs (HMRC) has recently launched a new artificial intelligence chatbot called GOV.UK Chat. What does it do?

26/06/2026

7 Prime Ministers in 10 years…

That’s where things stand right now.

It’s no surprise that for many business owners, this level of change can feel a bit unsettling.

Running a business isn’t easy. It takes time, energy, and a huge amount of commitment. Keeping it steady and finding the confidence to grow is even harder when the world around you keeps shifting.

The truth is, businesses don’t thrive on uncertainty.

Growth needs a bit of stability.

It needs consistency.

It needs some confidence that the goalposts won’t keep moving.

Of course, there’s always going to be things we can’t control global events, economic pressures, unexpected changes. But a bit of steadiness closer to home makes a real difference.

We’d love to see more decision‑makers who truly understand business. People who know what it’s like to make payroll, support a team, and build something that lasts.

Because behind every small business is a group of people doing their best for their families, their customers, and their communities.

And what they really need is quite simple:

stability, consistency, and the space to grow.

If you’re feeling the pressure or just want a sounding board, we’re always here. Drop us a message what would help you right now?

17/06/2026

We probably don’t think twice about it…

Helping our children out with money as they grow up 💛

But if you run a business, there could be a smarter way to do this.

Many children have real, valuable skills whether that’s social media, content creation, or helping with admin. And if they’re genuinely contributing, why not recognise that?

Here’s something a lot of people miss 👇
They can earn up to £12,570 without paying income tax or National Insurance (as long as they don’t have other income).
So instead of ad-hoc payments, you could be:
✨ paying them for real work
✨ reducing your profits and therefore less tax
✨ and doing it in a more tax-efficient way

It’s not about being clever… it’s about using what’s already there.

Definitely worth a thought if you’re a business owner.

If you think this might apply to you, have a chat with your accountant
or take a look at Myers Clark to learn more.

09/06/2026

A small change… that could put more money back in your pocket 🚗
You might have missed this one.
The mileage rate for using your own car for work has increased from 45p to 55p per mile (for the first 10,000 miles).
What’s interesting is that it’s been backdated to April — so it applies from the start of the tax year.
👉 If you claim mileage through your employer, now is a good time to check:

🥏Are you using the updated rate?
🥏Have you submitted all your claims?

And if your employer pays less than the approved rate (for example, 30p per mile), you can claim the difference back from HMRC.

👉 You can find more details here:
https://www.gov.uk/tax-relief-for-employees/vehicles-you-use-for-work

It’s one of those small changes that can add up over the year.

04/06/2026

How healthy is your business… really?

We recently shared a blog about understanding the true financial health of your business and it clearly struck a chord.

Because let’s be honest, most business owners would say:
“We’re doing alright.”

But when you stop and think about it… what does “alright” actually mean?

We’ve put together a quick and simple financial health check to help you find out.

In just 5 minutes, you’ll answer 12 easy questions and get a clear picture of where your business stands, what’s working, and where you might want to focus next.

No complicated language.

No heavy reports.

Just practical insight you can use straight away.

If you’re even a little bit curious, it’s worth a look 👀

🔜 https://priya-ghxxkusn.scoreapp.com

02/06/2026

CIS contractors – a quick reminder you don’t want to miss

From April 2026, there’s been an important change.
You now need to submit a CIS return every month even if you haven’t used any subcontractors.

That means each month you must either:
✔️ File a return showing payments
✔️ Submit a nil return
✔️ Or make an inactivity request (which can last up to 6 months)
If nothing is submitted, penalties can build up quickly:

£100 to start
£200 after 2 months
Then £300+ (or 5% of the liability) after 6 months
Further penalties after 12 months

It’s easy to think “nothing to report” means “nothing to do” but HMRC doesn’t see it that way.

If you’re already filing regularly, you’re likely fine. But if you’re unsure, it’s worth checking now before any penalties land.

If you’d like help keeping on top of this (or taking it off your to‑do list completely), just send us a message and we’ll be happy to help.