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Not Just Bookkeeping Ltd, 12 Hammersmith Grove, Hammersmith (2026)

11/05/2026

Read this article to find out about the new rules in the UK for Trading Tech Goods; and if you need help understanding this, please feel free to book your free initial consultation here: https://notjustbookkeeping.co.uk/appointments/

New UK Rules: What Businesses Need to Know About Trading Tech Goods

Recent changes in the UK mean that businesses trading goods internationally, especially electronics like chips or tech components, need to be more careful than before.
The UK government is increasing checks on products that can be used for both everyday civilian and more sensitive military purposes. These are often called “dual use” goods. Even if your business is small or you are simply buying and selling components, these rules could still apply to you.
In practical terms, this means you may need to check:
- what your product is used for
- who your customer is
- where the goods are going
If something is flagged, you might need a licence before you can ship it. Missing this step can lead to delays, penalties, or issues with your accounts and tax reporting.
At the same time, HM Revenue & Customs is paying closer attention to international transactions. This includes making sure that figures are reported correctly and that businesses keep proper records to support their activity.
For many business owners, this can feel like a lot, especially when you are just trying to run your day to day operations. The key point is that tax, accounting, and compliance are now more connected than ever.
At Not Just Bookkeeping Ltd, we help businesses stay on top of these requirements in a simple and practical way, without unnecessary complexity.
If you are importing, exporting, or unsure whether these rules apply to you, feel free to get in touch. We are here to help you stay compliant and avoid surprises.

Not sure where to begin? Drop us an email, and we’ll walk you through it — no jargon, no stress, just a clear plan to get you ready for the new rules.

09/03/2026

Read this article to find out about the end of the Key UK Tax and Business Changes coming from April 2026; and if you need help understanding this, please feel free to book your free initial consultation here: https://notjustbookkeeping.co.uk/appointments/

Key UK Tax and Business Changes to Watch from 2026

From April 2026, a number of important tax and business changes announced in the 2025 Budget are expected to start affecting businesses, investors, and employers across the UK. While some of these measures may appear technical at first glance, their practical impact could be significant.

Among the main changes is the reduction in Inheritance Tax relief for AIM shares. These holdings have long been used as part of estate planning, but from April 2026 they will no longer benefit from full Business Property Relief. Instead, only 50% relief will apply, which may reduce their attractiveness for those looking at long-term succession planning.

Employers will also need to prepare for higher staffing costs, with National Minimum Wage rates rising above inflation. At a time when many businesses are already facing pressure on margins, this could make workforce planning and budgeting even more important.

There are also changes to incorporation relief. Businesses moving into a company structure will no longer receive this relief automatically and will instead need to claim it through the self-assessment process. In addition, the £6 per week working-from-home allowance is due to be abolished, removing a simple and widely used tax deduction for many employees.

Commercial property owners and occupiers should also pay attention to the upcoming business rates revaluation, while businesses considering employee incentives may welcome the expansion of the EMI share option scheme.

Taken together, these changes could affect estate planning, payroll costs, business structure, and future growth decisions. The key message is simple: planning early matters. Waiting until the rules are already in force may limit your options and increase the risk of unnecessary costs.

If you are unsure how these changes may affect you, this is the right time to review your position. A proactive discussion can help you identify risks, explore opportunities, and put the right strategy in place before April 2026.

If you would like clear, practical advice tailored to your situation, book an appointment with us. We will help you understand the impact and plan ahead with confidence.

05/02/2026

Read this article to find out about the end of the “£6 a week” tax claim if you work from home; and if you need help understanding this, please feel free to book your free initial consultation here: https://notjustbookkeeping.co.uk/appointments/

Working from home in 2026: the “£6 a week” tax claim is ending — what to do now

If you’re an employee who works from home and has been claiming tax relief for extra household costs, a big change is coming. HMRC is removing the process that lets employees claim an Income Tax deduction for non-reimbursed additional homeworking expenses from April 2026.
In plain English: if you pay the extra costs yourself (heating, electricity, etc.), you won’t be able to claim the relief directly from HMRC in the same way once the new rules apply. This matters for anyone still relying on the flat-rate homeworking claim or submitting claims for actual additional costs.

So what should you do now?
1. Check your employer’s policy. The change is aimed at employee claims, but employers can still reimburse homeworking expenses where the rules allow. If your employer already pays a homeworking allowance, confirm whether it will continue and how it will be treated through payroll.
2. Get organised before April 2026. If you’re eligible to claim for the current period, make sure your paperwork and submissions are up to date (especially if you’re claiming actual additional costs rather than a flat rate).
3. Self-employed? Different rules. This change is about employees. Sole traders and landlords still need to track costs properly anyway — and from 6 April 2026, Making Tax Digital for Income Tax starts for many people with qualifying income over £50,000, meaning digital records and quarterly updates.

The takeaway: if working from home is part of your normal routine, 2026 is the year to review your setup — and make sure you’re not leaving money (or compliance) on the table.

If you need tax advice tailored to your situation, please visit our website to book an appointment.

05/12/2025

Read this article to find out about the Budget 2025; and if you need help understanding this, please feel free to book your free initial consultation here: https://notjustbookkeeping.co.uk/appointments/

Budget 2025: Key Changes and What They Mean for Households and Businesses

Budget 2025 arrives at a pivotal moment, with the government attempting to balance economic pressures, public expectations, and long-term fiscal sustainability. The result is a budget that leans heavily on tax reform and structural adjustments — one that will be felt by households, investors and businesses in very real ways over the next decade.
On the personal finance front, income tax and National Insurance thresholds will remain frozen until 2030–31, continuing the effect of fiscal drag and gradually moving more people into higher tax bands. Pension planning is also changing: from April 2029, only the first £2,000 of salary sacrificed annually will be exempt from NI, making high levels of salary sacrifice less tax-efficient.
Savers face further adjustments. The Cash ISA allowance will fall from £20,000 to £12,000 from April 2027 for those under 65. In addition, tax rates on dividends, savings income and property income will rise by two percentage points, affecting landlords and investors alike. High-value property owners will also see the introduction of a new mansion tax on homes worth over £2 million, with steeper bands for more expensive properties.
In employment and business, the National Living Wage will continue its above-inflation trajectory, benefiting lower-paid workers while increasing pressure on payroll costs. SMEs may find some relief through government-funded apprenticeships for under-25s, aimed at supporting recruitment and skills development. However, new costs loom for specific sectors, including a new Vehicle Excise Duty for electric vehicles and a significant rise in remote gambling duty.
The welfare system sees a major shift with the removal of the two-child benefit cap from April 2026, a policy expected to have broad social implications.
Ultimately, Budget 2025 reflects a government preparing for slower growth, higher costs and rising demand for public services. With £26–£30 billion in additional tax revenue required to support its plans, the overall tax burden is set to reach historic highs by the end of the decade — signalling a challenging but defining period for the UK’s economic landscape.

Not sure where to begin? Drop us an email, and we’ll walk you through it — no jargon, no stress, just a clear plan to get you ready for this challenging period.

09/10/2025

Read this article to find out about the changes for Non-Doms in the UK; and if you need help understanding this, please feel free to book your free initial consultation here: https://notjustbookkeeping.co.uk/appointments/

From 6 April 2025, the UK is introducing major changes for non-domiciled residents. The old remittance basis, which allowed non-doms to pay UK tax only on UK income and any foreign income brought into the UK, will be replaced by a new Foreign Income and Gains (FIG) regime.
The FIG regime focuses on residence rather than domicile. For individuals who become UK tax residents after spending 10 consecutive years outside the UK, the first four years of UK residency will give 100% relief on foreign income and gains. During this time, only UK-source income and gains are taxed, while worldwide income remains untaxed. After the four-year period, worldwide income and gains are taxed on the normal arising basis.
To support the transition, the government has introduced a Temporary Repatriation Facility (TRF). This allows individuals to remit foreign income and gains accrued before 6 April 2025 at reduced tax rates: 12% for 2025/26 and 2026/27, and 15% in 2027/28. Taxpayers need to clearly identify and designate these funds in their Self-Assessment filings.
Inheritance tax is also being updated. From April 2025, IHT will be based on UK tax residence rather than domicile. Individuals who have been UK tax residents for 10 of the past 20 years may be liable for IHT on worldwide assets. A new “tax tail” provision means that IHT can continue to apply for 3–10 years after leaving the UK, depending on prior residency.
These reforms are significant because they impact income, capital gains, and inheritance planning. Non-doms will need to understand how the new FIG regime interacts with existing overseas income, remittance rules, and inheritance tax obligations.

Not sure where to begin? Drop us an email, and we’ll walk you through it — no jargon, no stress, just a clear plan to get you ready for these changes.

11/08/2025

Read this article to find out about the HMRC changing forever Tax Returns; and if you need help understanding this, please feel free to book your free initial consultation here: https://notjustbookkeeping.co.uk/appointments/

Tax Returns Are Changing Forever: What Making Tax Digital Means for You from April 2026

Big changes are coming to the way millions of people in the UK do their taxes — and it’s starting in April 2026. If you’re self-employed, run your own small business, or rent out a property, the traditional once-a-year Self Assessment tax return is on its way out.

Instead, we’re moving into the world of Making Tax Digital for Income Tax Self Assessment — or MTD for ITSA (yes, it’s a bit of a mouthful). The idea is simple: HMRC wants everything to go digital. They’ve already done it with VAT, and now income tax is next on the list.

Here’s the deal: from April 2026, if you earn more than £50,000 from self-employment or UK property, you’ll need to keep digital records, send income updates to HMRC every three months, and then wrap it all up at the end of the year with an End of Period Statement (EOPS) and a Final Declaration. If you earn between £30,000 and £50,000, you’ll join the party in April 2027.

Gone will be the days of leaving everything to the last minute in January. Instead, you’ll be chipping away at it throughout the year — which, honestly, could make life a lot easier if you get organised early. HMRC says this will reduce errors, keep everyone on track, and make tax a bit more predictable.

So, where do you start?

If you’re still using a notebook or a basic spreadsheet, now’s the time to look at MTD-compatible software like Xero, QuickBooks, or FreeAgent. And you don’t have to figure it out on your own. We’re already helping clients make the switch, set up the right tools, and keep things running smoothly.

Not sure where to begin? Drop us an email, and we’ll walk you through it — no jargon, no stress, just a clear plan to get you ready for the future of tax.

21/07/2025

Can HMRC Look at Your Bank Account Without Asking?

Read this article to find out about if HMRC can look into your bank account without your permission; and if you need help understanding this, please feel free to book your free initial consultation here: https://notjustbookkeeping.co.uk/appointments/

This is a question we often come across in our practice and the answer may surprise you: YES. HMRC can look into your bank account without your permission.
Since 2021, HMRC has had in fact the power to contact your bank directly if they suspect something isn’t quite right with your taxes. They don’t need to tell you first or get approval from a judge. If they believe it’s reasonable, they can request your bank statements, loan details, investment information, and more. This is done through what’s called a Financial Institution Notice.
HMRC might decide to check your account if your tax return doesn’t seem to match your income or lifestyle, if someone reports you for suspected tax issues, or simply as part of a random check.
This can happen to anyone, but sole traders should be especially careful. If your personal and business finances are mixed together, your entire account could be reviewed.
How to Stay Compliant
To stay on the safe side, make sure you keep accurate records of all business income and expenses. Filing your tax returns on time and being realistic and honest with any claims is also essential. Using simple accounting software can help you stay organised and reduce the chance of mistakes.
If you're self-employed, having a separate bank account for your business is a smart move. It helps keep things clearer and shows you’re handling your finances responsibly.

For more information or any concern, speak to your accountant or tax advisor or feel free to get in touch with us. We offer a free initial consultation and are happy to help.

24/06/2025

Don’t Miss These Key Dates for 2024/25 Benefits Reporting

Read this article to find out about managing employee benefits and if you need help understanding this, please feel free to book your free initial consultation here: https://notjustbookkeeping.co.uk/contact/

Managing employee benefits and expenses can feel like navigating a maze, especially when it comes to reporting to HMRC. If you’ve provided any taxable expenses or benefits in the 2024/25 tax year, it’s crucial to hit the right deadlines—both for HMRC filings and for keeping your team informed.
Even if you’ve payrolled benefits through real-time payroll reporting, there’s still work to do once the year ends. By 1 June 2025, each employee must receive a clear breakdown of their payrolled benefits. You can slip this onto their payslip, drop them a quick email, or send a letter—whatever works best for you. Then, come 6 July 2025, make sure your online P11D(b) return is filed, including all those payrolled amounts in your Class 1A National Insurance calculations.
For benefits outside your payroll—things not covered by a PAYE Settlement Agreement—you’ll need to issue individual P11D forms. These must also be submitted online by 6 July 2025; HMRC no longer accepts paper. Don’t forget that your P11D(b) needs to declare these non-payrolled benefits too, and the Class 1A liability you calculate must reflect every taxable perk you’ve provided.
Last but not least, your employees deserve to know exactly what’s been reported on their behalf. By the 6 July deadline, hand over each person’s P11D details—either as a copy of the form, or again by email or letter. Miss a deadline or make a mistake, and you could face hefty penalties. Stay organised, keep those dates in your diary, and you’ll breeze through this year’s benefits reporting with confidence.

13/05/2025

Read this article to find out how the taxation of company cars is changing in 2025/26 and beyond

Company‑Car Crunch Time: What the 2025–30 Tax Changes Mean for You

Thinking about taking a new company car or hanging on to the one you’ve got? Here’s the low‑down on how the tax rules are about to creep up over the next few years—and why your electric run‑about might not stay the bargain it looks today.
First, a quick refresher. If you can use your company car for personal trips, the taxman treats that perk as extra pay. They start with the car’s list price (plus any factory‑fitted toys) and multiply it by what HMRC calls the “appropriate percentage.” That percentage depends mainly on CO₂ emissions, with a diesel penalty if the engine isn’t squeaky‑clean. You can knock a bit off for any contribution you’ve made, or for weeks when the car sat idle at the office, but that’s the headline formula.
From April 2025 the percentages all rise by a full point, up to the usual 37 % ceiling. That might not sound like much, but it means pure‑electric cars jump from a 2 % charge to 3 %. On a £30,000 Tesla or Nissan Leaf, a higher‑rate taxpayer will fork out roughly £120 extra in 2025/26. Employers get stung too: the Class 1A National Insurance rate climbs from 13.8 % to 15 %, and of course a bigger benefit equals a bigger NI bill.
Looking one year further, 2026/27 sees another nudge for cleaner cars. Anything pumping out 74 g/km of CO₂ or less moves up an extra percentage point; the dirtier models hold steady. In 2027/28, HMRC tightens the screw again, this time only on vehicles at 69 g/km and below.
The big leap comes in 2028/29. Electric cars jump two points to 7 %, and the whole “electric‑range” break for hybrids disappears. Cars that emit between 1 and 50 g/km are all slapped with a flat 18 % charge—bad news if you’ve been enjoying the super‑low 5 % rate on a long‑range plug‑in. Everyone else moves up one point, and the top band rises to 38 %. A year later, 2029/30 repeats the trick: zero‑emission cars hit 9 %, the 1–50 g/km crowd move to 19 %, and the overall cap climbs to 39 %.
In plain English: the Government is clawing back revenue as more drivers go electric. If you keep a company car for three or four years, don’t just look at today’s headline rate—check where it will land in 2027, 2028, and beyond. That zippy EV perk might feel a lot pricier by the time you hand back the keys.

And if you need help understanding the new taxation of company cars, please feel free to book your free initial consultation here: https://notjustbookkeeping.co.uk/contact/

23/04/2025

What’s changing with National Insurance from April 2025? A quick, no-jargon rundown
Read this article to find out what National Insurance contributions are payable in 2025/26

Starting 6 April 2025, employers begin paying NI on an employee’s wages once those earnings hit £96 a week (that’s £417 a month or £5,000 a year). Because the threshold is dropping, some part-timers who used to fly under the radar will now cost their bosses NI. To make life tougher, the employer rate itself jumps from 13.8 % to 15 %. There is a sweetener: the Employment Allowance doubles to £10,500 and, for the first time, larger businesses can claim it (one-person companies where the sole worker is also the director still can’t). Smaller firms may even see their overall NI bill shrink thanks to that bigger allowance, but big employers should brace for a hefty hit. All the existing higher NI-free limits for under-21s, apprentices, veterans and those hired in Freeports or Investment Zones stay put, so recruiting in those categories still cuts costs. Class 1A and Class 1B rates, which cover benefits and PAYE settlement agreements, rise in step with the main employer rate to 15 %.
Employees get off lightly. Nothing changes to the point where your own NI kicks in: you still start paying at £242 a week (£1,048 a month or £12,570 a year) at a rate of 8 %, then drop to 2 % once earnings top £967 a week (£4,189 a month or £50,270 a year). If you earn between the lower earnings limit of £125 a week and that £242 threshold, you’re treated as though you’ve paid NI—even though you haven’t—so you still chalk up a qualifying year for the state pension.
For the self-employed, Class 4 NI stays as is: 6 % on profits between £12,570 and £50,270 and 2 % above that. The small-profits threshold nudges up to £6,845; if your profits land between that figure and the £12,570 lower profits limit, you get a credit to protect your pension record. Earn less than £6,845 and you can still choose to pay voluntary Class 2 contributions at £3.50 a week to keep that record going.
Finally, anyone who needs to plug gaps in their contribution history but can’t pay Class 2 can opt for voluntary Class 3 contributions, which will cost £17.75 a week for 2025/26.
In short, employers—especially the bigger ones—feel most of the squeeze, employees see no real change, and the self-employed only need to note a few small tweaks.

And if you need help understanding the new NICs , please feel free to book your free initial consultation here: https://notjustbookkeeping.co.uk/contact

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