Ammu Accounting, Author at ammu

HMRC Struggles to Tax Interest Income

Taxpayers relying on HMRC to correctly calculate tax on interest are being warned: the system is under strain, and personal responsibility is key.

Companies House ID Checks Coming Soon

Companies House identity verification is being rolled out for directors, people with significant control (PSCs), and anyone who files on behalf of a company.

Mandatory Payrolling of Benefits Delayed

The deadline for mandatory payrolling of benefits has been postponed by one year. Employers will now need to report most taxable benefits through payroll software starting 6 April 2027.

New Rules for Statutory Sick Pay

Proposed statutory sick pay changes will introduce eligibility from the first day of sickness. The lower earnings threshold will also be removed.

Business and Agricultural IHT Relief: What the £1M Limit Means

HMRC’s recently closed consultation offers further clarity on how the new £1 million inheritance tax (IHT) relief cap for business and agricultural property will apply from 6 April 2026.

Continuing Our Commitment to Glasgow’s Business Growth

We’re proud to be continuing our role in Phase 3 of Glasgow City Council’s Business Growth Programme, supporting Glasgow-based SMEs and Social Enterprises with expert financial consultancy. As a chartered accountancy and business advisory firm, we specialise in Business Financial […]

HMRC Updates HICBC Reporting for 2025

From this summer, employed taxpayers who have to pay the high income child benefit charge (HICBC) will no longer need to complete a self assessment tax return.

VAT Late Payment Penalties Rise Sharply

It is now more expensive to be late when it comes to making a VAT payment. The slowest payers now face a 250% increase to an annualised rate.

New CGT Rates and Triggers Explained

With basic rate taxpayers now facing doubling capital gains tax (CGT) rates, and with the exempt amount a quarter of its previous level, it is no surprise that considerably more CGT is being paid to HMRC.

Spring Statement: Tax Rises Still on the Horizon

There were no tax increases in the Chancellor’s Spring Statement (upgraded from an initial Spring Forecast), but that might just be pain deferred.

More Taxpayers Join MTD by April 2028

Self-employed people and landlords with an income between £20,000 and £30,000 will be required to use Making Tax Digital (MTD) from 6 April 2028.

Spring Statement 2025 – Ammu’s Commentary

Rachel Reeves’ Spring Statement brings few surprises but confirms that key tax and compliance changes are going ahead as planned. Key points for you as a business owner: Helpful Articles for MTD and Payroll Updates Making Tax Digital: Key Changes […]

Author: Ammu Accounting