Marshall Smalley Accountants Limited

Marshall Smalley Accountants Limited We are a firm of Chartered Accountants based in Gedling, Nottingham.

Are you ready for MTD yet?From 6th April 2026, landlords and sole traders with income over £50k (turnover and/or gross r...
25/03/2026

Are you ready for MTD yet?
From 6th April 2026, landlords and sole traders with income over £50k (turnover and/or gross rents) are mandated by HMRC to submit quarterly returns. These returns have to be made using compatible software, such as Xero.

At Marshall Smalley, we are proud to be a Silver Partner with Xero for MTD Income Tax (we do also work with other software providers) and are here to help with your MTD submissions.

Caught by MTD and not sure what it all means and what you have to do? Give us a call on 0115 956 9452, email [email protected] or drop us a DM.

Pleased to announce our latest sponsorship...
19/03/2026

Pleased to announce our latest sponsorship...

Do you have a villa in Spain? Or a holiday home in France? Do you rent these out? Or have you perhaps sold your overseas...
13/02/2026

Do you have a villa in Spain? Or a holiday home in France?

Do you rent these out? Or have you perhaps sold your overseas property?

There seems to be a common misconception that because these properties are abroad, any income from those properties doesn't count for UK tax, especially as the income may already have been subject to taxation overseas.

Unfortunately, that is wrong. 😱

In fact, whether tax has been paid overseas or not, if you receive income from abroad then you still need to declare it to HMRC. If foreign tax has already been paid there is a good chance that the tax paid can be offset against any UK tax on the foreign income.

Don't caught out by HMRC for not reporting all your income.

We can help. Give us a call on 0115 956 9452, email us at [email protected] or drop us a DM.

As a landlord, you are required to notify HMRC if you let a property and you then pay tax on any profit made from it - i...
12/02/2026

As a landlord, you are required to notify HMRC if you let a property and you then pay tax on any profit made from it - if you don't you could face fines and interest. But what happens after you have registered with HMRC? What do you need to do to be able to report your rental income to HMRC?

Once you have registered as a landlord, HMRC should start to send you self assessment tax returns. These are due to be filed by 31st January following the end of the tax year. Within the tax return is a section for rental income. This is where you will need to record all of your property income and expenses, calculate your net income, and calculate the tax you need to pay on this income. If a property is owned jointly then the figures get dividend between the legal owners, with each of you declaring your share individually on your own tax returns. For more details and examples of what income should be declared and the sort of expenses you can claim please see our latest blog https://buff.ly/4eF2IWh

As a landlord you should also be aware of future changes to landlord taxes. Some of you may already have heard about Making Tax Digital (MTD). This is a government drive to make tax returns online and more 'real time'. It has already happened for VAT returns and the next phase to be introduced will affect landlords.

Following delays, Making Tax Digital for Income Tax and Self Assessment (MTD for ITSA) is now due to commence in April 2026. For landlords, this means that if you have property income (and it is your gross income not your net profit) above £50,000 per year then you will be subject to the new MTD for ITSA.

From 6th April 2026, landlords under MTD for ITSA will need to send a quarterly summary of their income and expenses to HMRC using MTD compatible software. HMRC will then provide an estimated tax calculation based on this information to help budget for their rental tax. At the end of the tax year, any non-rental information will be submitted via the MTD software to finalise the tax affairs.

Need help?
We have years of experience in helping a range of landlords from new landlords starting out with a single property, to experienced landlords with a large portfolio of properties. Please get in touch to see how we can help you. Call us on 0115 956 9452 or email [email protected]

Do you need a bookkeeping health check?You've got the software, bank feeds connected, receipts 'snapped' and uploaded......
09/02/2026

Do you need a bookkeeping health check?

You've got the software, bank feeds connected, receipts 'snapped' and uploaded.... all good to go, right?

We frequently see clients that think they are doing everything right but are making small errors. Small errors can mean figures you rely on for cashflow are incorrect; small errors can mean VAT returns are incorrect and money is owed to HMRC; small errors can mean customers aren't chased for overdue debts.

Accounting software is great but it doesn't mean mistakes can't be made. Repeating the same mistake can cost you money.

Why wait until your records are checked for your year end accounts? We can review your bookkeeping, identify any key errors and if we see ways to improve we'll let you know.

Sound good? Give us a call on 0115 956 9452, email us at [email protected] or drop us a DM and we will happily discuss further.

Payroll errors..... have you been a victim to one? Would you know if you were? In today's world, software is king. Payro...
06/02/2026

Payroll errors..... have you been a victim to one? Would you know if you were?

In today's world, software is king. Payroll software is easily available, some is even free. Software can be used to work out the tax deductions and an employee's net pay at the touch of a button. Easy job, right? Understandably, if you have a handful of employee's you often want to run your own payroll as it's easy enough to do and it saves your hard earned money going into an accountant's or payroll bureau's pocket.

But..... the quality of the end result is only as good as the information that is entered into the software. A bit of missing data, or a box ticked or not ticked in error and the end result may look right but can easily be wrong. Would you know if it was?

Payroll processing without any real understanding of the way payroll works can be a dangerous thing. We've heard of the high profile stories where even the likes of Tesco and John Lewis have got things wrong. Recently the news has reported of multiple cases of student loan repayments being wrongly taken from employees, due to payrolls being set up incorrectly. These are just a few examples.

Add to the mix the many rules and regulations around auto enrolment, minimum wage, holiday pay as well as the PAYE and NI regulations and it's no wonder so many employers can unknowingly incorrectly pay their staff.

Software is amazing but software without knowledge can be a dangerous thing. There is an old saying "you don't know what you don't know". Are you sure you know everything you need to know to run your own payroll correctly?

Accountants aren't just here to prepare accounts and file your tax returns. We support with all aspects of taxes including payroll taxes. At Marshall Smalley we have our own in-house payroll bureau to support both our accounts clients and payroll only clients.

Outsourcing your payroll can free you from the hassle of keeping up to date with ever changing payroll rules, ensure your employees are paid correctly, and it will most likely cost a lot less than you might think.

Get in touch to see how we can support you. Give us a call on 0115 956 9452, email us on [email protected] or drop us a DM.

Do you work for yourself as a sole trader or landlord and turnover more than £50k? If so, you will be impacted by the ne...
05/02/2026

Do you work for yourself as a sole trader or landlord and turnover more than £50k?

If so, you will be impacted by the new Making Tax Digital (MTD) for Income Tax, which starts this April.

MTD for Income Tax is a new way to report your income and expenses. HMRC will require you to send quarterly updates to HMRC from recognised software.

The way you pay tax won't change, just the way you report it.

Need help? Call us on 0115 9569452, email [email protected] or drop us a DM.

Do you use accounting software? Software can be used just for basic bookkeeping or can be used to drive your business fo...
02/02/2026

Do you use accounting software?

Software can be used just for basic bookkeeping or can be used to drive your business forward with features such as generating on the spot customer invoices and automating credit control to help you get your cash faster.

There are a range of options out there and we have in-house expertise and certification in all the major ones.

If you want to discuss further how software can help you run your business more effectively and efficiently then give us a call on 0115 956 9452, email us at [email protected] or drop us a DM.

Tomorrow is deadline day! As accountants we face a flurry of last minute tax returns and a race against the clock before...
30/01/2026

Tomorrow is deadline day!

As accountants we face a flurry of last minute tax returns and a race against the clock before we can breathe a sigh of relief that another busy tax return season is behind us.

For our clients, we would like to remind you that if you haven't already paid your tax you have until midnight tomorrow to do so, or HMRC will start to charge interest.

For anyone that hasn't yet filed their self assessment tax return, you have until midnight tomorrow before HMRC charge you an automatic £100 fine. Need help? It might not be too late. Call us on 0115 956 9452, email us [email protected], or drop us a DM.

Do you help run a charity? Did you know all charities, whether registered with the Charity Commission or not, should pre...
29/01/2026

Do you help run a charity? Did you know all charities, whether registered with the Charity Commission or not, should prepare accounts and make them available on request?

And did you know that if the gross annual income of your charity is over £25,000 then you need to get your accounts independently examined and file them with the Charity Commission?

If you did, fantastic! 🙌 If not, don't worry, we can help. You got involved with your charity to make a difference and help people, not to panic about how to comply with charity accounting regulations.

We are experienced in helping charities like yours. Get in touch to see how we can help you.

Give us a call on 0115 956 9452, email us on [email protected] or drop us a DM.

Do you run your own payroll? Payroll is becoming more complex and harder to manage. Outsourcing your payroll can be a ga...
26/01/2026

Do you run your own payroll?

Payroll is becoming more complex and harder to manage.

Outsourcing your payroll can be a game-changer. Imagine not having to worry about calculating salaries, deducting taxes and generating payslips every month. Handing over the responsibility of payroll administration to experts allows you to save valuable time and resources that can be better used growing your business.

With experts taking care of your payroll tasks, you can ensure everything is handled efficiently and accurately. Outsourcing your payroll ensures accuracy and compliance with the ever-changing tax laws and regulations. Professional payroll service providers stay up to date with the latest legislation, taking the burden off your shoulders and reducing the risk of costly mistakes. This ensures your employees are paid accurately and on time, avoiding any potential disputes or legal issues.

Outsourcing sounds like it has lots of advantages, but these must come at a cost, right?? Actually, statistics show that businesses that outsource payroll enjoy significant cost savings. According to a study by the Society for Human Resource Management (SHRM), small businesses can save up to 18% by outsourcing payroll. This reduction in costs is attributed to various factors, such as eliminating the need for in-house payroll staff, reducing the risk of penalties, and streamlining processes with technology.

At Marshall Smalley, we have our own in-house payroll bureau to service the payroll needs of our clients. Let us take this burden off your shoulders and keep this sensitive area of your business away from the workplace.

Plus, it will probably cost less than you think!

Get in touch and let us help. Give us a call on 0115 956 9452, email us at [email protected] or drop us a DM

One week left to the self-assessment tax return deadline 😱 Have you completed yours?This the final week until the self-a...
23/01/2026

One week left to the self-assessment tax return deadline 😱 Have you completed yours?

This the final week until the self-assessment tax return deadline of 31st January. Miss the deadline and there is an immediate £100 fine. Interest will also be charged on any tax not paid by midnight on 31st January.

Remember, it doesn't matter if you have no tax to pay, you still have to file your tax return to avoid a fine.

Time is running out so contact us for help with your tax return as soon as possible. Call us on 0115 956 9452, email at [email protected] or drop us a DM.

Address

22A Main Road
Gedling
NG43HP

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 5pm

Telephone

+441159569452

Website

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