Sixmile Accountancy

02/04/2026

Closed for Easter. Back in Wednesday 8th April, ready for the new tax year and the start of filing 25/26 tax returns.
Have a good weekend.

01/04/2026

Each year, changes to the new National Minimum Wage (NMW) and Living Wage rates requires careful attention. While the new rates for 2026 come into effect from 1 April, the point at which they should be applied in payroll is not always straightforward.

The new rates should be applied based on the first full pay reference period that begins on or after 1 April, as per the National Minimum Wage regulations 2015, regulation 4(2):

"(2) The single hourly rate of the national minimum wage at which a worker is entitled to be remunerated as respects work, in a pay reference period, is the rate which applies to the worker on the first day of that period."

In practice, this means that some employees will not receive the updated rates until after the 1 April, as it depends on when the pay reference period begins, rather than the date the payment is made. A common area of confusion arises where a pay period spans both March and April.

18/03/2026

It marks the biggest change to the Self Assessment system since 1997

16/03/2026

Closed tomorrow. Reopen Wednesday 18th March

16/03/2026

16/03/2026

28/02/2026

Perfect for the new tax year from April
Self employed taxi driver books, one page per week with a section at back to record your vehicle details and other income streams. We have 12 on sale in the office at £3 each. Will take orders for more if necessary.
Call into office during work hours to purchase

27/02/2026

24/02/2026

MAKING TAX DIGITAL FOR INCOME TAX
From 1 April 2026 – What This Means For You

1️⃣ What Is Changing?

From 1 April 2026, HM Revenue & Customs (HMRC) is extending Making Tax Digital (MTD) to Income Tax.

As a sole trader and/or landlord with income above HMRC’s threshold (£50,000), you will move from one annual Self-Assessment tax return to a new digital reporting system.

You will be required to:
✔ Keep digital records

Sixmile Accountancy will:
✔ Submit quarterly updates to HMRC
✔ Submit a final year-end declaration

Paper records and manual spreadsheets will no longer be sufficient.

2️⃣ Registration – We’ll Handle It
You do not need to contact HMRC.

We will:
• Register you for MTD
• Link your Self-Assessment to the new system
• Ensure agent authorisation is in place
• Manage the transition process from start to finish

We will contact you well in advance of April 2026 to begin onboarding.

3️⃣ Software – A New Requirement

MTD requires compatible accounting software to:
• Maintain digital records
• Submit quarterly updates
• Submit the final declaration

We will recommend the right solution based on your business.
One size does not fit all!

4️⃣ The Good News

While this is a change, it also brings benefits:

✔ Better visibility of your tax position during the year
✔ Fewer year-end surprises
✔ Improved record keeping
✔ More up-to-date business information
✔ Greater efficiency long term

For many clients, this will mean fewer last-minute pressures and more control over tax liabilities.

What You Need To Do Now

✔ Begin keeping records digitally if you do not already

We are already preparing to ensure a smooth and stress-free transition.

24/02/2026

Out of the office today.
Today will be information overload on the new Making Tax Digital for Income Tax and a lot of strong coffee….

04/02/2026

Nearly a million landlords, sole traders and self employed set to receive Making Tax Digital letters in next six weeks

HMRC confirms taxpayers in the £50,000 wave one of Making Tax Digital (MTD) for Income Tax can expect to receive a letter in the post with details

As the date for MTD for Income Tax starts from 6 April 2026 for self assessment taxpayers with income over £50,000 from earnings and property, HMRC is ramping up the communications campaign with a new awareness letter going out to taxpayers.

Over 860,000 landlords, self employed and sole traders will have to report to HMRC on a quarterly basis under the new rules, with the first quarterly filing date for 2026-27 tax year set for Friday 7 August 2026.

HMRC will write to taxpayers required to report under new MTD rules from 2 to 13 February and from 16 to 27 March informing them that they qualify to mandatory MTD from the new tax year.

The HMRC letter will cover key changes:

📍the basics on what is MTD for Income Tax and how it works;
📍when the individual self assessment taxpayer needs to start using MTD;
📍details about new reporting requirements, including quarterly reporting to HMRC via digital software;
📍important changes from the current system and reporting to how taxpayers currently record and report information;
📍how to prepare for MTD.
It is not just higher earners being dragged into quarterly reporting. Lower earners will be pulled into the MTD regime from April 2027 when the threshold drops to £30,000 and subsequently this will be reduced even further in April 2028 to £20,000.

But MTD still requires an annual self assessment tax return, despite the continual reporting to HMRC. So first year sign-ups will still have to meet 31 January 2027 deadline to file self assessment tax return in usual way for 2025-26.