Naylor Accountancy Services

18/03/2026

The Income Tax thresholds are set to stay the same for another three years, lasting until April 2031. This means that as wages rise, many of you could find yourselves paying more tax without any changes to tax rates. Imagine your higher earnings possibly pushing you into a higher tax bracket! 😲 This phenomenon is known as fiscal drag, and it could affect your financial planning. Are you ready for these changes? Let's discuss how to navigate this challenge!

It was confirmed as part of the Autumn Budget that the Income Tax thresholds will continue at their current levels for a further three years, ext

18/03/2026

Have you ever heard of "bona vacantia"? 🤔 This Latin term refers to "ownerless goods" and applies when a company is dissolved. When that happens, any remaining assets or rights—including tax refunds—automatically go to the Crown! 🌟 But here's the kicker: if the company was involved in a fraudulent claim, then no rights existed in the first place. Only officially dissolved companies fall under this category, so if a company is still in liquidation, its assets are safe. And there's hope! Companies dissolved within the last six years can apply to be restored, reclaiming any lost assets. Before you dissolve a company, ensure all assets are properly managed! Learn more about how this affects you and share your thoughts! What do you think about bona vacantia?

Bona vacantia is Latin term meaning “ownerless goods”. The bodies that deal with bona vacantia claims vary across the United Kingdom,

17/03/2026

If running your business feels heavier than it should, the issue might not be effort.

More often, it’s the foundations that need strengthening, not the hours you’re putting in.

What feels “heavy” in your business right now: time, team, or money?

16/03/2026

As we approach the end of the 2025-26 tax year on April 5, 2026, it's a perfect time to think about your future! Did you know increasing your pension savings can lead to valuable tax benefits? 💰 Pension contributions are one of the smartest ways to save for retirement, allowing you to get tax relief based on your earnings. Whether you're a basic, higher, or additional rate taxpayer, there's relief available for you. Plus, you can contribute up to £60,000 each year while still enjoying these tax benefits. Don’t forget, you can even utilize unused allowances from previous years! Start planning today for a secure tomorrow! How are you preparing for your retirement? Let us know in the comments!

With the end of the 2025–26 tax year approaching on 5 April 2026, there is still time for taxpayers to increase their pension savings and b

16/03/2026

🌟 Once the financial year wraps up, it’s essential for a private limited company to prepare annual accounts and file its company tax return. Here's a friendly reminder: the deadline is usually 12 months post-accounting period, and filing is online only! ⏳ But beware, if you're late after April 1, 2026, penalties will double! No one wants a hefty fine, so let’s get those returns in on time. It’s all about keeping your business healthy and compliant. Have you filed your returns yet? 👀

After the end of its financial year, a private limited company must prepare full annual accounts and submit a company tax return. In most cases,

16/03/2026

Have you ever felt like you've paid more tax than you should have? You're not alone! Many people overpay their taxes due to job changes, incorrect tax codes, or missing out on deductions. If you suspect that you've overpaid, it might be worth checking if you're eligible for a tax refund from HMRC. You could claim for things like job-related expenses, redundancy payments, or even UK income earned while living abroad. Visit HMRC's online service to explore your options and potentially get back what’s rightfully yours. Don’t miss out on this opportunity! 💰

If you have paid too much tax to HMRC, you may be able to claim a tax refund. Overpayments can happen for several reasons, such as a change in em

13/03/2026

Have you ever wondered who truly controls a company? Meet the Person with Significant Control (PSC)! These individuals, often referred to as beneficial owners, either own over 25% of shares, can appoint directors, or exert control over the company. Every UK company must register its PSCs with Companies House—so transparency is key! If you're involved in a business, take time to identify your PSCs. Let's foster trust and clear governance in our businesses! What steps are you taking towards transparency? Share in the comments!

A person with significant control (PSC) is someone who owns or exercises significant influence over a company. They can also be referred to as a…

11/03/2026

Are you dreaming of building your own home? 🏡 You might not know that reclaiming VAT through the VAT DIY Housebuilders Scheme can significantly cut down your costs! This unique scheme allows individuals like you to enjoy VAT benefits typically reserved for professional developers. With this scheme, you can reclaim the VAT on many building materials used in your new home or conversion project. Just remember to submit your claim within six months of completion! Want to learn more about how to take advantage of this? Drop a comment below or send us a message!

Reclaiming VAT on a self-build home project can significantly reduce the overall cost of building or converting your property. The VAT DIY Houseb

11/03/2026

🏡 Thinking of selling your property with tenants? Let’s break it down! When you sell your main residence, you typically won't face Capital Gains Tax (CGT) due to Private Residence Relief (PRR). But wait, if you rented part of your home, it gets a bit tricky. You might qualify for letting relief if you lived there at the same time as your tenant. The maximum letting relief you can claim is £40,000 or the gain from the rented part, whichever is lower. So, if you sold a property with a gain of £75,000, and you rented out 10%, you could potentially owe no CGT at all! Want to make the most of your property sale? Let’s chat!

If you have tenants living in your property, it is important to understand the Capital Gains Tax (CGT) implications. In most cases, there is no C

09/03/2026

Ever wonder what happens when a close company loans money to its directors or shareholders? 🤔 Well, there's a specific set of rules to ensure everything is done right—especially when it comes to taxes! Under CTA10/S455, if a close company lends money to its participators, it may face some tax obligations. 📊 If the loan isn't repaid within nine months and one day, a tax charge kicks in! As it stands, this charge is 33.75%, set to rise to 35.75% in April 2026. But don’t worry, if you pay the loan back, you can get a full refund! Curious how this might affect your business? Let's dive into it together in the comments! ✨

There are special rules to prevent close companies, generally companies controlled by a small group of individuals, from allowing directors or sh

09/03/2026

Exciting changes are coming in payroll reporting! Starting April 6, 2027, the mandatory payrolling of benefits in kind (BiKs) will eliminate the need for the annual P11D form for most benefits. This reform aims to simplify the way employers report these benefits through Real Time Information (RTI). Originally set for 2026, this roll-out has been extended to allow everyone ample time to prepare. Ready to pivot for these changes? Mark your calendars and ensure you’re ahead of the game. Let’s discuss how this impacts your business!

Mandatory payrolling of benefits in kind (BiKs) and taxable employment expenses will be introduced from 6 April 2027. This represents a

09/03/2026

Have you ever wondered how to secure your future with a solid National Insurance record? 🤔 National Insurance credits can fill in those contribution gaps, enhancing your eligibility for benefits like the State Pension. This can be a game-changer if you’ve had low earnings, were unemployed, or even worked abroad. Many people might not realize they qualify for these credits! If you're not working, you might be able to claim credits for being a job seeker, caring for a loved one, or even on jury duty. Don’t miss out on this opportunity, take action today to check if you qualify! 💪

If you have gaps in your National Insurance (NI) record, you may be able to improve your position through National Insurance credits or, in some