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Monday 10:30am - 6pm Tuesday 10:30am - 6pm Wednesday 10:30am - 6pm Thursday 10:30am - 6pm Friday 10:45am - 5pm

Solutions in Accounting

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Solutions in Accounting

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We are a vibrant accountancy and business advisory practice, based in Witney, Oxfordshire. We have b

18/12/2025

Please note our team will be working reduced hours over the festive period and our office will be closed from lunchtime on 19th December to 4th January – reopening on the 5th January. We will endeavour to reply to any messages or calls during this period.

MTD for income tax will be with us for the tax year 2026/2027 which will mean quarterly digital online filings for certain clients. Initially affecting self employed and landlords with a turnover of £50,000 in 2024/25. Some of you already have been notified that you will be enrolled following submission of your self assessments for 2024/2025. We will need to review with you the extra compliance and services required.

The Government link below gives further information.

https://makingtaxdigital.campaign.gov.uk/?utm_source=bing&utm_medium=CPC&utm_campaign=mtd&utm_content=mtd&msclkid=7bb25f5f4e611e2ecde4361dd22d53fc&utm_term=MTD%20for%20Income%20Tax

Contact Us: https://solutionsinaccounting.co.uk/

28/11/2025

Autumn Budget November 2025

In the Autumn Budget delivered on 26 November 2025, Chancellor Rachel Reeves announced up to £26 billion in tax-raising measures, including a three-year extension of the Income Tax threshold freeze, alongside increases to taxes on property, dividends and savings. The Budget also introduced both employee and employer National Insurance contributions on salary-sacrifice pension contributions above £2,000 a year and brought in a new tax on homes valued at £2 million or more.

On spending, Ms Reeves took action to cut energy bills, freeze rail fares and end the two-child benefit cap.
Ms Reeves said: ‘I can tell you today that, for every family we are keeping our promise to get energy bills down and cut the cost of living with £150 taken off the average household energy bill from April.
‘Money off bills, and in the pockets of working people. That is my choice.’
Autumn Budget 2025 read full document:
https://solutionsinaccounting.co.uk/wp-content/uploads/2025/11/Autumn-Budget-Word-November-2025.pdf

28/03/2025

The Spring Statement 2025

Chancellor of the Exchequer, Rachel Reeves, held the Spring Statement on Wednesday 26 March 2025. In the run up to the event, the Chancellor stated that she ‘remains committed to one major fiscal event a year to give families and businesses stability and certainty on upcoming tax and spending changes and, in turn, to support the government’s growth mission’.

Read more:https://solutionsinaccounting.co.uk/wp-content/uploads/2025/03/Spring_Statement_25-1.pdf
Contact Us: https://solutionsinaccounting.co.uk/

17/02/2025

Please remember the payment deadline for your 2023/2024 personal tax deadline has now passed and interest will be accruing on any tax owed.

Also any tax owing for 2023/2024 will incur a 5% surcharge if not paid within 30 days of the deadline – see below for late payment penalties

Penalties are set as follows:
Late payment
Penalty
30 days late - 5% of tax outstanding at that date
6 months late - 5% of tax outstanding at that date
12 months late - 5% of tax outstanding at that date

The penalties do not apply to payments on account – although interest will be due.

If you are struggling to meet the tax due – you could apply online for a time to pay arrangement, to avoid penalties it is important this is in place before 1st March.

Please review the attached documenthttps://solutionsinaccounting.co.uk/wp-content/uploads/2025/02/Minimise-late-payment-penalties.pdf for more information on interest and penalties.

Read more:https://solutionsinaccounting.co.uk/wp-content/uploads/2025/02/Minimise-late-payment-penalties.pdf

Contact us: https://solutionsinaccounting.co.uk/
Tel: 01993 774502

11/12/2024

Wishing you all the best for the holiday season

Please note our team will be working reduced hours over the festive period and our office will be closed from 24th December to 2nd January.

Contact us: https://solutionsinaccounting.co.uk/

31/10/2024

The Autumn Budget 2024

Chancellor Rachel Reeves delivered her Budget on Wednesday 30 October 2024. She pledged to ‘invest, invest, invest’ to drive growth and ‘restore economic stability’.

Billions in tax rises

Ms Reeves said the Budget will raise £40 billion in taxes. Employers’ National Insurance contributions (NICs) will be increased from next April while Capital Gains Tax rates will also rise. Inherited pensions will fall within the Inheritance Tax net from April 2027 while reliefs will be reformed on the passing down of agricultural and business assets. The Chancellor also confirmed the introduction of VAT on private school fees and the abolishment of the tax regime for non-UK domiciled individuals.

We are pleased to enclose a copy of our Autumn Budget 2024 which summarises the main points relating to taxation in the Chancellor’s speech.
https://solutionsinaccounting.co.uk/wp-content/uploads/2024/10/Autumn-Budget-Word-October-2024-1-1.pdf

We hope the summary will provide you with a useful update and allow you to get to grips with the changes. If you have any questions in understanding how the changes to tax affect you, please do get in touch.

07/10/2024

MTD for Income Tax – A reminder of what’s to come

Despite few updates from HMRC, MTD for Income Tax is still moving forward! Here’s what we know:
• April 2026: Applies to self-employed individuals and landlords earning £50k+
• April 2027: Extends to those earning £30k-£50k
• Applies to those already under MTD for VAT
• Tax year dates remain the same

Key steps:
• Record and submit income/expenses quarterly using HMRC-approved software
• Make accounting adjustments digitally
• File the Final Declaration by 31 Jan after the tax year

No news yet for those earning under £30k or partnerships. Stay tuned!

To read more: https://solutionsinaccounting.co.uk/news/

24/09/2024

Pension Tax - What to Expect from the New Government

With the upcoming Budget on 30 October, there’s speculation that pension savings will be a key target for the new government.

But what can we actually expect, and how will it impact you?

What Are the Likely Changes?

The Chancellor may introduce higher taxes on pension savings, particularly focusing on:
• Legacy funds in money purchase (MP) schemes that haven’t been drawn by age 55 and remain undrawn upon death.
• Reintroduction of the Lifetime Allowance (LTA), which limits the amount of pension funds qualifying for tax relief.
• Reduced tax relief on pension contributions.Despite the media noise, it’s unlikely that there will be an increase in the tax rate on pension income.

Stay informed, and let’s see how this unfolds!
To read more: https://solutionsinaccounting.co.uk/news/

Address

Ground Floor, 2 Compton Way
Witney
OX283AB

Opening Hours

Monday	10:30am - 6pm
Tuesday	10:30am - 6pm
Wednesday	10:30am - 6pm
Thursday	10:30am - 6pm
Friday	10:45am - 5pm

Telephone

+441993774502

Website

https://solutionsinaccounting.co.uk/

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