Ion Partners Accountant

Ion Partners Accountant We focus on salary managing, accounting, tax regulations, VAT consulting and managing, business cons

Failing to notify HMRC is not the same as submitting a tax return late.A “failure to notify” happens when you do not tel...
01/09/2026

Failing to notify HMRC is not the same as submitting a tax return late.

A “failure to notify” happens when you do not tell HMRC that a new tax liability has arisen. For example, when:

• Your business exceeds the VAT registration threshold
• Your company becomes liable for Corporation Tax
• You start receiving taxable income from self-employment or investments

The penalty is calculated as a percentage of the unpaid tax. The maximum can be:

• 30% for a non-deliberate failure
• 70% for a deliberate failure
• 100% if the failure was deliberate and concealed

The final penalty also depends on whether you contacted HMRC voluntarily, how quickly you acted and how much you cooperated. An unprompted disclosure can result in a significantly lower penalty.

If you had a reasonable excuse, HMRC may not charge a penalty, provided you notify them promptly once the circumstances preventing you from doing so have ended.

Ion Partners Accountant can review your situation, calculate the outstanding tax and help you make a complete disclosure to HMRC.

📞 01227 636720
📧 [email protected]
📍 128 High Street, Herne Bay, CT6 5JY

An interest-free company loan is not always tax-free.If your company lends money to an employee or director without char...
28/08/2026

An interest-free company loan is not always tax-free.

If your company lends money to an employee or director without charging interest, or charges less than HMRC’s official rate of 3.75%, the difference may become a taxable benefit.

If the outstanding balance exceeds £10,000 at any point during the tax year, the small loan exemption may no longer apply.

Ion Partners Accountant can review the loan, calculate any taxable benefit and make sure your P11D and National Insurance reporting is correct.

📞 01227 636720
📧 [email protected]
📍 128 High Street, Herne Bay, CT6 5JY

Are you planning to raise investment through SEIS or EIS?HMRC Advance Assurance can show potential investors that your p...
24/08/2026

Are you planning to raise investment through SEIS or EIS?

HMRC Advance Assurance can show potential investors that your proposed investment is likely to qualify. It is not a guarantee, but it can give investors greater confidence in your business.

Ion Partners Accountant can check your eligibility, prepare the required documents and submit the application to HMRC.

📞 01227 636720
📧 [email protected]
📍 128 High Street, Herne Bay, CT6 5JY

Do you know when your limited company needs to register for Corporation Tax?Once your company starts trading or receivin...
20/08/2026

Do you know when your limited company needs to register for Corporation Tax?

Once your company starts trading or receiving income, you normally need to inform HMRC within three months. If it has not started trading, it may be considered dormant, but Companies House filing requirements still apply.

Ion Partners Accountant can check your company’s status, complete the Corporation Tax registration and help you meet the correct deadlines.

📞 01227 636720
📧 [email protected]
📍128 High Street, Herne Bay, CT6 5JY

💷 Did you know HMRC could owe you money?It's more common than you might think. You may have paid too much tax if you've:...
07/08/2026

💷 Did you know HMRC could owe you money?

It's more common than you might think. You may have paid too much tax if you've:
• changed jobs;
• had work-related expenses you didn't claim;
• overpaid tax for other reasons.

If you've paid more tax than necessary, you could be entitled to a tax refund.

📩 Not sure if you can claim a refund? Get in touch with the team at Ion Partners Accountants and we'll help you check.

📊 Has your company had a difficult year?Every business faces challenges from time to time. The good news is that a tradi...
03/08/2026

📊 Has your company had a difficult year?

Every business faces challenges from time to time. The good news is that a trading loss doesn't always mean a tax loss.

Depending on your company's circumstances, trading losses may help reduce your Corporation Tax bill or even allow you to reclaim tax paid in previous years.

That's why it's worth reviewing your position before your year-end or Corporation Tax return is submitted.

📩 Every company is different. If you'd like to understand what relief may be available for your business, get in touch with the team at Ion Partners Accountants.

💷 VAT registered? You could be missing out on VAT you can reclaim.Many businesses don't claim all the VAT they're entitl...
31/07/2026

💷 VAT registered? You could be missing out on VAT you can reclaim.

Many businesses don't claim all the VAT they're entitled to.

✔️ Business purchases
✔️ Equipment and services
✔️ Some purchases made before VAT registration (subject to HMRC rules)

Every business is different, and VAT rules can be more complex than they appear.

📩 If you're unsure whether you're reclaiming everything you're entitled to, the team at Ion Partners Accountants is here to help.

📂 Self-employed? Keep your business records organised!If you're a sole trader, make sure you keep records of your income...
28/07/2026

📂 Self-employed? Keep your business records organised!

If you're a sole trader, make sure you keep records of your income, expenses, invoices and receipts.

📌 HMRC can ask to see your records, and they must be kept for at least 5 years.

Good record keeping means less stress when it's time to complete your Self Assessment.

Need advice? The team at Ion Partners Accountants is here to help.

🎨 Turning your hobby into extra income?Selling handmade products, photography, baking, repairing cars or reselling items...
17/07/2026

🎨 Turning your hobby into extra income?

Selling handmade products, photography, baking, repairing cars or reselling items doesn't automatically mean you're running a business.

However, if your hobby becomes more regular and profit-focused, HMRC may consider it a taxable business.

The good news? You may be able to use the £1,000 Trading Allowance, depending on your circumstances.

Not sure where you stand? Get in touch with Ion Partners Accountant for friendly advice.

Making Tax Digital: Are you ready for the first quarterly deadline?If you are registered for MTD for Income Tax, your fi...
10/07/2026

Making Tax Digital: Are you ready for the first quarterly deadline?

If you are registered for MTD for Income Tax, your first quarterly update must be submitted by 7 August 2026.

You will need to report your income and expenses through compatible software for each self-employment or property business, even if there was no activity during the period.

Although HMRC will not apply penalty points for late quarterly updates during the 2026/27 tax year, now is the right time to make sure your digital records and software are properly set up.

Need help preparing for MTD?

📞 +44 7394 464613
📧 [email protected]
🌐 ionpartnersaccountant.co.uk

Address

128 High Street
Herne Bay
CT65JY

Opening Hours

Monday 9am - 5:30pm
Tuesday 9am - 5:30pm
Wednesday 9am - 5:30pm
Thursday 9am - 5:30pm
Friday 9am - 5pm

Telephone

+447394464613

Website

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