PCD Accountancy

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25/05/2026

What a Bank Holiday weekend it’s been!☀️
We hope everyone’s had the chance to relax, recharge and enjoy the heatwave! 😎

18/05/2026

Tax & Termination Payments...

Understanding the tax treatment of termination payments is essential for both employers and employees.

While the first £30,000 of qualifying termination payments is usually tax-free, not all payments qualify. Payments such as PILONs, gardening leave and PENP remain fully taxable and subject to National Insurance.

There are still valuable exemptions available, including employer pension contributions, certain legal fees, and some payments linked to injury or ill health.

Careful structuring of termination packages can make a significant difference to the overall tax position.

08/05/2026

💍 Could you and your partner save on tax with the Marriage Allowance?

If one partner earns below the Personal Allowance (£12,570 for 2026–27) and the other is a basic rate taxpayer, you may be able to transfer £1,260 of unused allowance and reduce your household tax bill by up to £252 per year.

✅ Available to married couples and civil partners.
✅ Claims can be backdated to 6 April 2022.
✅ Continues automatically unless your circumstances change.

For many couples, it’s a simple way to make your tax allowances work harder.

01/05/2026

May Tax Diary...

1st May 2026 – Due date for corporation tax due for the year ended 30th July 2025.

19th May 2026 – PAYE and NIC deductions due for month ended 5th May 2026. (If you pay your tax electronically the due date is 22nd May 2026).

19th May 2026 – Filing deadline for the CIS300 monthly return for the month ended 5th May 2026.

19th May 2026 – CIS tax deducted for the month ended 5th May 2026 is payable by today.

31st May 2026 – Ensure all employees have been given their P60s for the 2025/26 tax year.

27/04/2026

Interest Rate Outlook For 2026...

UK interest rates in 2026 are expected to remain relatively stable, with the possibility of small reductions if inflation continues to ease. However, rates are still higher than many businesses have been used to in recent years, meaning borrowing costs will likely stay elevated for now.

With the Bank of England taking a cautious approach to balancing inflation and economic growth, sharp rate cuts seem unlikely in the short term. Businesses should plan accordingly - reviewing cash flow forecasts, assessing financing options, and considering the benefits of fixed vs variable rate borrowing.

Higher rates don’t just impact loans - they also influence investment decisions, working capital, and business valuations. Regular financial reviews and forward planning are key to navigating ongoing uncertainty and staying aligned with long-term goals.

17/04/2026

📢 Employer Reminder: Benefits & Expenses Reporting Deadlines (2025–26)

If you provide employees with expenses or benefits in kind, key deadlines are approaching:

🗓️ By 6 July 2026
✔️ Report benefits to HMRC
✔️ Provide employees with details
✔️ Submit P11D(b) (unless fully payrolled)

💷 Class 1A NIC deadline:
• 22 July 2026 (19 July if paying by cheque)

📑 PAYE Settlement Agreements (PSA):
• Pay tax & Class 1B NIC by 22 October 2026 (19 October by cheque)

📊 Payrolling benefits?
Ensure tax & Class 1 NIC are processed through payroll during the year.

📁 Record keeping matters
Maintain clear documentation, valuations, and supporting evidence. Some exemptions may apply.

⚠️ Don’t miss deadlines
Late P11D(b) filings = £100 penalty per 50 employees per month + potential interest on late payments.

12/04/2026

📢 Working From Home Tax Relief Changes – 2026/27

From April 2026, most employees will no longer be able to claim tax relief for working from home.

✅ Still claimable if:

Homeworking is required by your job
Your employer doesn’t provide a workplace

❌ Not claimable if:

You choose to work from home (including flexible working)

💡 You can claim:

£6/week flat rate or actual extra costs (with evidence)

⏳ Don’t forget: You can still backdate claims for up to 4 years

These changes bring rules back to pre-pandemic levels.

03/04/2026

Happy Easter weekend 🐰🌸
Wishing you a lot of joy and maybe some chocolate too!🍫🐣

31/03/2026

April 2026 Tax Diary...

1st April 2026 – Due date for corporation tax due for the year ended 30th June 2025.

19th April 2026 – PAYE and NIC deductions due for month ended 5th April 2026 (If you pay your tax electronically the due date is 22nd April 2026).

19th April 2026 – Filing deadline for the CIS300 monthly return for the month ended 5th April 2026.

19th April 2026 – CIS tax deducted for the month ended 5th April 2026 is payable by today.

30th April 2026 – 2024-25 tax returns filed after this date will be subject to an additional £10 per day late filing penalty for a maximum of 90 days.

20/03/2026

📊 UK Accounting News Roundup - March 2026.

The UK accounting landscape is rapidly evolving as Making Tax Digital (MTD) rolls out from April 2026, requiring many sole traders and landlords to submit quarterly digital updates, a major shift from annual returns. This is expected to increase demand for accountants and push up fees.

Meanwhile, HMRC is stepping up compliance and enforcement, with deeper data analysis and a new clampdown on undeclared online income, signalling more proactive investigations ahead.

There are also ongoing modernisation efforts, including proposals to standardise company tax returns and move more processes fully online.

👉 Bottom line: Digitalisation, tighter compliance and rising demand are reshaping the role of accountants in 2026.

Address

17 Oak Tree Close
Gloucester
GL24TJ

Website

http://www.pcdaccountancy.co.uk/

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