Thorne Widgery

Thorne Widgery We’re a digital firm embracing technology and using it to transform accountancy. Total Xero Award Winners 2025!

A warm welcome to Lucy Edwards, who has joined TW as a Tax Senior.Lucy brings over 11 years of accountancy experience, h...
16/06/2026

A warm welcome to Lucy Edwards, who has joined TW as a Tax Senior.

Lucy brings over 11 years of accountancy experience, having started her career as an apprentice before completing both AAT and ACCA

After discovering a real interest in tax during her ACCA studies, she is now looking forward to developing her expertise further as part of our tax team.

Welcome to the team, Lucy!

15/06/2026

Your first MTD quarterly deadline is approaching.

If you’re affected by MTD for Income Tax, your first quarterly update must be submitted by 7 August 2026.

For those using standard update periods, it will cover your income and expense totals from 6 April to 5 July 2026..

Our latest blog explains:

• What information you’ll need
• How quarterly updates work
• How to submit your figures
• What happens if you miss the deadline
• How to start preparing now

Read the full blog to make sure you’re ready for your first MTD quarterly update.

https://www.thornewidgery.co.uk/your-first-mtd-quarterly-deadline-is-approaching-are-you-ready-for-7-august/

If you’re unsure about your responsibilities or need help preparing, our team is here to support you.

Some of the team enjoyed a light breakfast and a spot of rock decorating in the office this morning 🎨🪨Sometimes it's the...
11/06/2026

Some of the team enjoyed a light breakfast and a spot of rock decorating in the office this morning 🎨🪨

Sometimes it's the little things that bring people together, encourage a bit of creativity, and brighten up the working day ❤️

A great way to start the morning!

Salary sacrifice pensions are changing.From 6 April 2029, the National Insurance savings available on employee pension c...
10/06/2026

Salary sacrifice pensions are changing.

From 6 April 2029, the National Insurance savings available on employee pension contributions made through salary sacrifice will be capped at £2,000 per tax year.

That does not mean salary sacrifice is disappearing, and it does not stop employees paying more into their pension.

But it does mean employers should start reviewing how their current schemes work, what the cost could be, and how the changes may affect staff.

The benefit is being reduced, not removed.

Need help understanding what this could mean for your business? Let’s talk.

Running a small business often means making big decisions with limited time, limited resources and a lot of pressure.But...
03/06/2026

Running a small business often means making big decisions with limited time, limited resources and a lot of pressure.

But without clear, up-to-date financial information, it’s easy to miss the warning signs.

Cash flow gaps, rising costs, falling profitability and overspending can all build quietly in the background before becoming much harder to fix.

That’s where management accounts can make a real difference.

They give you a clearer view of how your business is performing throughout the year, not just when your annual accounts are prepared.

With regular management accounts, you can:
• Monitor cash flow
• Track profitability
• Compare performance against budgets
• Spot trends earlier
• Make more confident business decisions
• Support funding or finance applications

In short, better numbers lead to better decisions.

If you want to understand your business more clearly and plan your next steps with confidence, speak to our team today.

CIS rules are changing from April 2026, and contractors need to be prepared.Monthly CIS returns are coming back into sha...
21/05/2026

CIS rules are changing from April 2026, and contractors need to be prepared.

Monthly CIS returns are coming back into sharper focus, including nil returns where no subcontractors have been used.

If a return is missed or filed late, penalties can quickly build.

But the bigger issue is around compliance and due diligence.

HMRC will also have stronger powers where: If a business knew, or should have known, that a payment was connected to fraud - This could lead to serious consequences, including the immediate loss of Gross Payment Status, penalties and assessments for lost tax.

For contractors, this means CIS is no longer just a monthly admin task.
It is about having the right checks, records and processes in place to protect your business.

If your CIS processes have not been reviewed recently, now is the time to take a closer look

15/05/2026

The £100,000 tax trap catches more people than you think.

Earning £100,000+ sounds like a great position to be in and of course, it is.
But from a tax point of view, it can quickly become one of the least efficient places to sit.

Once your income goes over £100,000, your personal allowance starts to reduce. For every £2 earned above that level, you lose £1 of tax-free allowance.

The result?

An effective tax rate of up to 60% on that slice of income.
That means earning more may not leave you with as much extra take-home pay as you expected.

The key is acting early, not after the tax bill lands.

If your income is approaching or above £100,000, now is the time to review your options.

Get in touch with our team to discuss your position.

Outsourcing your bookkeeping isn’t just about handing off admin - it’s about freeing up time, reducing risk, and getting...
11/05/2026

Outsourcing your bookkeeping isn’t just about handing off admin - it’s about freeing up time, reducing risk, and getting clearer insight into how your business is really performing.

We’ve put together five key reasons more businesses are choosing to outsource:

✅ Often more cost-effective than hiring in-house
✅ You get your time back to focus on growth
✅ Expertise without the overheads
✅ Better compliance and fewer errors
✅ Clearer visibility of cash flow, profitability and spending trends

If you’d like the full breakdown, you can read the blog here:
https://www.thornewidgery.co.uk/five-reasons-to-outsource-your-bookkeeping-to-an-accountant/

08/05/2026

From April 2026, an important CIS change will put more responsibility on contractors.

If HMRC believes a contractor knew, or should have known, about subcontractor fraud, they may now be able to recover the lost tax from the contractor instead.

That makes this much more than a routine CIS check.

In practice, contractors will need to show reasonable care, carry out due diligence, and keep a closer eye on their supply chain. Ignoring warning signs could lead to tax recovery, penalties, and even loss of Gross Payment Status.

If you would like advice on how these changes could affect your business, get in touch with the team

If your business works in or around construction, the CITB Levy is something worth checking properly.A lot of firms assu...
06/05/2026

If your business works in or around construction, the CITB Levy is something worth checking properly.

A lot of firms assume it only applies to traditional builders, but the rules can reach further than many people realise. If your business is wholly or mainly engaged in construction industry activities, you may need to register with CITB and complete a Levy Return.

For the 2025 Levy, assessed in Spring 2026:
0.35% on payroll staff
1.25% on net paid CIS subcontractors
No Levy is due on gross paid CIS subcontractors

The biggest issue for many businesses is not the rate itself. It is understanding whether the rules apply in the first place.

We have put together a simple blog to help explain the basics in plain English.

Read more here: https://www.thornewidgery.co.uk/citb-levy-does-it-apply-to-your-business/

Address

2 Wyevale Business Park, Wyevale Way, Kings Acre
Hereford
HR47BS

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

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