Do you need to complete a Self Assessment tax return?

You'll need to complete a Self Assessment tax return for the 2025/26 tax year if any of the following apply to you:

• You were self-employed and your gross income exceeded £1,000 (the trading allowance)
• You received rental or property income exceeding £1,000
• You are a company director
• Your income exceeded £100,000 — at this level your personal allowance begins to taper
• You have capital gains above the annual exempt amount
• You have foreign income
• You have savings or investment income above the relevant allowances
• You or your partner received Child Benefit and either of you earned over £60,000 (High Income Child Benefit Charge)

If you're unsure whether you need to file, we're happy to advise — just get in touch.

Key deadlines

Missing a deadline results in an automatic £100 penalty from HMRC, with further charges for continued late filing. We manage all deadlines on your behalf and give you plenty of notice.

What we do for you

We gather all your relevant income and expense information, prepare your tax return, identify every allowance and relief you're entitled to, and submit directly to HMRC. Once filed, we produce a tax transmittal letter outlining all relevant payment deadlines and amounts due, with clear payment instructions — so you always know exactly what you owe and when.

Making Tax Digital for Self Assessment

From April 2026, self-employed individuals and landlords with qualifying income over £50,000 must submit quarterly updates to HMRC digitally under Making Tax Digital for Income Tax (MTD for ITSA). This threshold drops to £30,000 from April 2027. Rather than one annual return, you'll submit four quarterly updates plus a year-end declaration. We can help you prepare for this change and ensure you're fully compliant from day one.

MTD for Income Tax Self Assessment (MTD for ITSA)

From April 2026, self-employed individuals and landlords with qualifying income over £50,000 must submit quarterly updates to HMRC digitally, plus a year-end declaration. This replaces the single annual Self Assessment return for affected taxpayers. The threshold drops to £30,000 from April 2027.

MTD for VAT

MTD for VAT is already in effect for all VAT-registered businesses. You must keep digital records and submit VAT returns using MTD-compatible software. If you're not yet compliant, we can help you get set up quickly and correctly.

How we can help

We offer a full range of MTD support — from simply ensuring your quarterly submissions are compliant, to taking over your bookkeeping entirely so your digital records are always up to date. We work with Xero and QuickBooks and can offer partner discounts on software pricing through our partnerships with both platforms.

Xero & QuickBooks support

If you already use Xero or QuickBooks, we can work within your existing setup. If you're starting from scratch, we'll guide you through getting set up properly from day one — structuring your records correctly so they're MTD-compliant and your quarterly submissions are straightforward.

Filing deadlines

Missing your Companies House filing deadline results in automatic penalties, escalating the longer the accounts remain outstanding.

For a company with a 31 March year end, accounts must be filed with Companies House by 31 December. We manage all deadlines on your behalf and begin work well in advance.

What we prepare

We prepare your full set of statutory financial statements in line with UK accounting standards (FRS 105 for micro-entities or FRS 102 Section 1A for small companies), including the profit and loss account, balance sheet, and all required notes. We also prepare the director's report where required and file directly with both Companies House and HMRC.

Year-end tax planning

As part of our service, we review your financial position at year end and advise on tax planning opportunities — including dividend planning, pension contributions, director salary optimisation, and timing of expenditure — to help you manage your tax liability effectively before the year closes.

Small company thresholds

Your company's size determines your reporting requirements. For 2025/26, a small company has turnover of no more than £10.2 million, a balance sheet total of no more than £5.1 million, and no more than 50 employees. Micro-entity thresholds are turnover up to £632,000, balance sheet up to £316,000, and up to 10 employees. Most of our clients qualify for simplified small company reporting, reducing the information that needs to be publicly filed at Companies House.

Corporation tax rates 2025/26

The current corporation tax rates depend on your company's taxable profits:

Thresholds are divided proportionally where a company has associated companies or a short accounting period. We review your position each year to ensure the correct rate is applied.

Key deadlines

Missing corporation tax deadlines results in automatic penalties from HMRC.

Large companies with taxable profits exceeding £1.5 million must pay corporation tax in quarterly instalments. Most small and medium-sized companies pay in a single annual payment.

Payment notification letter

Once your corporation tax return is filed, we provide a clear letter outlining the amount of tax due, the payment deadline, and step-by-step instructions on how to pay HMRC — so there's no confusion and no risk of missing the deadline.

Reliefs and allowances

We review your position each year to identify all available reliefs, including capital allowances on equipment and machinery, R&D tax credits where applicable, loss relief, and marginal relief for companies with profits between the £50,000 and £250,000 thresholds. From April 2026, main pool writing-down allowances reduce to 14%, making it more important than ever to ensure capital allowances are claimed correctly.

Combined with company accounts

We typically prepare your corporation tax return alongside your statutory accounts, making the process seamless and efficient. Our pricing for both services is combined and banded by turnover so you always know exactly what you'll pay.

What our bookkeeping service includes

We record and reconcile all your income and expenditure, categorise transactions correctly, maintain your digital records in line with MTD requirements, and keep your accounts accurate and up to date throughout the year. We work with Xero and QuickBooks and provide regular reports so you always know where your business stands.

Pricing based on transaction volume

Our bookkeeping pricing is based on your average monthly transactions — so smaller businesses pay less, and the service scales fairly as you grow. All fees are fixed and agreed upfront.

MTD-compliant records

As Making Tax Digital requirements expand, maintaining digital records is increasingly important. From April 2026, self-employed individuals and landlords with income over £50,000 must keep digital records and submit quarterly updates under MTD for ITSA. Our bookkeeping service ensures your records are kept in compliant software from day one.

Do you need to register for VAT?

You must register for VAT if your taxable turnover exceeds £90,000 in any rolling 12-month period, or if you reasonably expect it to exceed £90,000 in the next 30 days alone. You have 30 days from the end of the month you exceeded the threshold to register. Failure to register on time can result in backdated VAT liability plus penalties.

You can also voluntarily register for VAT below the threshold, which may allow you to reclaim VAT on business costs. We can advise on whether this is beneficial for your business.

VAT return deadlines

VAT returns and payments are due one calendar month and seven days after the end of your VAT period. For example, for a quarter ending 31 March, the return and payment are due by 7 May. Missing this deadline results in penalty points under HMRC's new points-based system, with financial penalties applying once a points threshold is reached.

MTD for VAT

All VAT-registered businesses must keep digital records and submit VAT returns using MTD-compatible software. We handle all of this on your behalf using Xero or QuickBooks, ensuring you remain fully compliant with HMRC's requirements.

VAT scheme advice

There are several VAT schemes available, and the right one depends on your business. We advise on the standard rate scheme, flat rate scheme, cash accounting scheme, and annual accounting scheme — helping you choose the most tax-efficient option for your circumstances.

What management accounts include

Our management accounts typically include a profit and loss account, balance sheet, and cash flow summary for the period, along with KPI analysis and commentary on your key figures. We tailor the reporting to focus on the metrics most relevant to your business, and present the information clearly so the numbers actually mean something to you.

Monthly or quarterly reporting

We offer management accounts on a monthly or quarterly basis. Our fees are based on the frequency you choose.

Monthly reporting is ideal for businesses that need a close view of performance. Quarterly suits businesses wanting regular oversight at a lower cost.

Using your numbers to grow

Beyond just reporting, we use your management accounts to help you understand your business better — identifying trends, highlighting opportunities, and flagging risks before they become problems. Good financial data is one of the most powerful tools a business owner can have.

What a cash flow forecast shows you

A cash flow forecast projects your expected income and expenditure over a future period — typically 12 months — showing you the net movement in your bank balance month by month. This helps you identify periods where cash may be tight, plan for major expenditure, and ensure you always have enough working capital to operate comfortably.

Pricing

Our cash flow forecast fees are based on frequency.

Scenario modelling

We can model different scenarios — such as taking on a new member of staff, investing in new equipment, winning a significant contract, or losing a key client — to show you the potential financial impact before you commit. This kind of forward planning is invaluable for making confident, informed business decisions.

For funding and investment

If you're approaching a bank, investor, or government scheme for funding, a well-prepared cash flow forecast is essential. We prepare forecasts to the standard expected by lenders — with clear assumptions, variance analysis, and professional presentation — giving you the best possible chance of securing the funding you need.

Key payroll deadlines

Payroll compliance involves several monthly and annual deadlines.

From 6 April 2026, benefits in kind must be reported through payroll (mandatory payrolling of benefits), replacing the annual P11D process for most benefits.

What our payroll service includes

We process your payroll for every pay period, calculate PAYE and National Insurance, produce payslips for each employee, and submit your Real Time Information (RTI) Full Payment Submission to HMRC on or before payday. Once processed, we provide a clear summary letter outlining the total PAYE and NIC due for the month, the payment deadline, and clear instructions on how to pay HMRC — so nothing is missed.

Auto-enrolment pensions

All employers must automatically enrol eligible employees into a qualifying workplace pension scheme. We help you meet your auto-enrolment obligations — including assessing employee eligibility, communicating with employees, and ensuring your pension contributions are calculated and reported correctly to The Pensions Regulator.

Pricing

Our payroll fee is £2 per employee per month — simple, transparent, and scaling fairly with your team. There are no setup fees or hidden charges.

How CIS works

Under CIS, contractors must register with HMRC, verify their subcontractors before making any payments, and deduct tax at the correct rate from the labour element of each payment. The deduction rates are 20% for registered subcontractors, 30% for unregistered subcontractors, and 0% for those with gross payment status. Deductions are passed to HMRC via the monthly CIS return and count as advance payments towards the subcontractor's tax liability.

CIS deadlines and penalties (April 2026 changes)

From April 2026, HMRC reinstated the full CIS late filing penalty regime. Monthly returns must be submitted by the 19th of the month following the tax month (which runs from the 6th to the 5th). Payment of deductions follows the same deadline (22nd for electronic payment).

From April 2026, nil returns are also required in months where no subcontractor payments have been made (or an inactivity request must be submitted in advance). We manage this on your behalf.

Monthly payment notification

Once each monthly return is filed, we provide a clear letter outlining the total CIS deductions due to HMRC, the payment deadline, and step-by-step instructions on how to pay — ensuring nothing is missed and no penalties are incurred.

Reclaiming CIS deductions for subcontractors

If you are a subcontractor, CIS deductions made by contractors count as advance payments towards your tax liability. For sole traders and partnerships, deductions are reclaimed through the Self Assessment tax return. For limited companies, they are offset via the Employer Payment Summary (EPS) against PAYE payable. Many subcontractors overpay through CIS deductions and are entitled to a refund — we make sure you claim back everything you're owed.

MTD for CIS subcontractors

From April 2026, CIS subcontractors with qualifying income over £50,000 must comply with Making Tax Digital for Income Tax. The threshold drops to £30,000 from April 2027. We can help you prepare for this change and ensure your digital records and quarterly submissions are in order.