LMBA Bookkeeping Services

28/05/2026

Got nothing for you today except for this....my favourite place to be!

25/05/2026

FreeAgent – A Simple, HMRC‑Recognised MTD for Income Tax Solution

FreeAgent is an HMRC-recognised software for Making Tax Digital (MTD) for Income Tax, making it a reliable choice for staying compliant.

Even better — it’s free to use if you bank with:

Mettle
NatWest
Royal Bank of Scotland
Ulster Bank

Why choose FreeAgent?

📱 Easy-to-use mobile app – Snap and store receipts on the go
🧾 Instant invoicing – Create and send invoices before you even leave the driveway
📊 Real-time tax estimates – See a provisional tax bill so you can plan ahead

If you’re one of the many who need to sign up for MTD for Income Tax and haven’t done so yet… what are you waiting for?

A quick word of caution!

While FreeAgent is an excellent tool, it can feel overwhelming if you’re unfamiliar with bookkeeping systems.
👉 To get the most out of it and stay compliant, it’s highly recommended to work with a bookkeeper or accountant who can help you set it up correctly and ensure everything runs smoothly.

21/05/2026

🌿 What if “doing nothing” wasn’t lazy… but necessary?

We’re so used to filling every gap — every quiet moment — with noise, scrolling, or productivity.

But your mind isn’t a machine.

It needs pauses. Space. Stillness.
Today, try this:

✨ Sit with your thoughts for 5 minutes
✨ No phone, no distractions
✨ Just breathe and notice how you feel

You might be surprised at what comes up… and what melts away.

Rest isn’t a reward.

It’s part of the process ❤️

18/05/2026

📢 Making Tax Digital for Income Tax – Exemptions (2026/27 Only)

As Making Tax Digital (MTD) for Income Tax is being rolled out, it’s important to know that not everyone will need to comply straight away.

For the 2026/27 tax year only, HMRC has confirmed a number of specific exemptions. If you fall into one of these categories, you won’t be required to join MTD for Income Tax just yet 👇

✅ Temporary Exemptions for 2026/27:
• Individuals with Trust or Estate income
• Those claiming averaging adjustments (e.g. farmers or creatives smoothing income fluctuations)
• Taxpayers claiming Qualifying Care Relief
• Individuals filing non-resident supplementary pages (SA109)
• Non-resident entertainers and sportspeople

💡 These exclusions are designed to allow additional time to adapt more complex tax affairs before bringing them into the MTD system.

📅 What does this mean for you?

If you’re in one of these groups, you’ll continue using the current Self Assessment system for now, but it’s wise to stay informed as future changes are expected.

👉 Need help understanding how MTD will affect you or your clients? Get in touch—planning ahead now can save time later.

14/05/2026

Wellbeing isn’t a luxury — it’s a foundation.

We often pour so much energy into supporting others that we forget to check in with ourselves.

But the truth is, you can’t show up fully for anyone else if you’re running on empty.

Taking care of your mental, emotional, and physical wellbeing isn’t selfish — it’s essential.
Rest when you need to.
Set boundaries without guilt.
Make time for things that refill your cup.

Because when you take care of yourself, you’re not just helping you — you’re strengthening your ability to care for those who rely on you.

You matter too. Always. 💛

11/05/2026

Making Tax Digital for Income Tax – One Month In.

Making Tax Digital (MTD) for Income Tax has now been live for a month.

If you’re already set up, you’ll have been keeping your records up to date — raising your sales invoices promptly and capturing your expenses as you go (even if that’s just snapping a quick photo in your software).

Some people see MTD as just another task added to the list. But in reality, staying on top of your accounts is what keeps your business healthy.

👉 If you don’t know who you’ve invoiced, it’s easy to miss income or delay billing — and that directly affects your cashflow.
👉 Poor cashflow means less ability to invest in your business or pay suppliers on time.

And it’s not just about income…

👉 Lost or damaged receipts (covered in oil, faded, or missing altogether) mean you can’t prove expenses.
👉 No proof = no claim = higher tax bill.
👉 A bank payment alone isn’t enough — HMRC still expects you to justify what the expense was.

Using software like FreeAgent or similar platforms can help — giving you a live estimate of your tax bill based on the data you’ve entered.

But let’s be clear…

It is NOT just “a click of a button.”

If you’re doing your own bookkeeping:

💠You’re entering the data
💠Your accountant/bookkeeper will still need to review everything at year-end
💠They’ll adjust for disallowable expenses (like personal coffees, lunches, etc.)

If those are included incorrectly:

💠Your tax estimate throughout the year will be wrong
💠You could face a shock bill at the end of the year
💠And potentially struggle with payments on account

On the other hand, if you:
✅ Work with a bookkeeper or accountant throughout the year
✅ Submit accurate quarterly updates

You’ll get a much more reliable view of your tax position — helping you plan, save, and avoid surprises.

The reality is:

💠Most of this record-keeping was already happening
💠The Key change with MTD IT is quarterly reporting to HMRC

✅ The rules haven’t changed
✅ Tax calculations haven’t changed
✅ Only the timing of reporting has

08/05/2026

Qualifying income, quarterly updates, penalty points: master the jargon and feel like a pro with our simple MTD dictionary.

08/05/2026

08/05/2026

Once you’ve verified your identity, you’ll receive a personal code. This code confirms your verified identity and must be provided to Companies House for all company roles to complete the identity verification process.

When you need to provide your personal code depends on your role.

✅ Directors need to include their personal code in the company’s next confirmation statement.
✅ PSCs must provide their personal code using a separate service during a 14-day window.

Check the Companies House register to see the verification due dates for each role you hold.

07/05/2026

May is a reminder that success doesn’t come from constantly pushing—it comes from balance. 🌿
From giving your best at work and giving yourself permission to rest.
From knowing when to show up—and when to step back.

Work with purpose.
Live with intention.
Rest without guilt.

This month, choose a pace that supports both your ambition and your wellbeing.
Because a balanced life is a stronger one. ✨