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Thorne Widgery

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Thorne Widgery

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

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.

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.

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

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/

01/05/2026

The UK job market is starting to cool, with unemployment rising and wage growth slowing.

For businesses, this creates a mixed picture. Recruitment may become easier in some areas, but a softer labour market can also point to weaker consumer confidence and more cautious spending.

With employment costs rising, now is a sensible time for business owners to review forecasts before making major decisions around recruitment, borrowing or investment.

Now is the time to review your forecasts carefully

Before making big decisions around recruitment, borrowing or investment, make sure the numbers still stack up in the current market.

A cooling job market does not automatically mean bad news, but it does mean business owners need to plan with a clearer view of what could be coming next.

27/04/2026

We’re pleased to welcome Anna-Marie Davies to TW as our new Bookkeeping Manager.

Anna-Marie brings over eight years’ experience in practice, supporting clients with bookkeeping, payroll, management accounts and treasury management, including work with international companies.

She is part-qualified ACCA and is working towards completing her final exams, while continuing to develop her knowledge across areas such as VAT and client support.

Outside of work, Anna-Marie is a busy mum who enjoys long family walks, getting outdoors and trying her hand at gardening.

It’s great to have you with us, Anna-Marie! 👏

13/04/2026

Our 2026–27 Tax Planning Handbook is now live.

With more tax changes on the horizon from April 2026, now is a good time to start looking ahead and thinking about what those changes could mean for you, your business and your long-term plans.

Our latest handbook has been put together to help make that easier.

Inside, we cover key areas including tax planning opportunities, upcoming changes, and practical considerations for business owners, directors and individuals — all explained clearly and backed up with real-world examples to bring the detail to life.

If you want a better understanding of what is changing and where planning ahead could make a real difference, this guide is a great place to start.

The 2026–27 Tax Planning Handbook is available now on our website.

09/04/2026

Transparency is key when it comes to payroll

From April 2027, Benefits in Kind (BIKs) will move to monthly payroll reporting, replacing the traditional year-end P11D process.

While this is a compliance change, it also brings a clear benefit:
👉 Improved visibility for employees

With BIKs processed through payroll:

Payslips will show benefits in real time
Tax and NIC will be applied more consistently
Employees will have a clearer understanding of what they’re being taxed on

It’s a shift towards greater transparency and simpler reporting — but it will require the right systems and processes in place.

2026 is the key preparation year.
Now is the time to review your payroll setup and ensure you’re ready for the transition.

👉 If you’d like to talk through what this means for your business, we’re here to help.

Address

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

Opening Hours

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

Website

http://www.thornewidgery.co.uk/

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