Jbc Accountants And Consultants Limited

Jbc Accountants And Consultants Limited MEMBER OF ICAEW

25/07/2026

The second Self Assessment payment on account was due 31 July — but July is also the ideal time for a broader mid-year financial review. 📊

With six months of actual figures behind you and six months left to act, here's what a mid-year tax health check covers:

✅ Corporation Tax position — are your instalment payments accurate, or are you over/underpaying?
✅ Director remuneration — are dividends optimised for the full year, or heading toward an avoidable higher-rate charge?
✅ VAT scheme review — is your turnover pushing you toward a threshold or scheme change?
✅ Payroll compliance — are all changes from the first half of the year correctly processed?
✅ Payment on account reduction — if your income is lower this year, you may be able to reduce your 31 July payment right now

January feels far away. It isn't. The decisions you make now determine your year-end tax position.

We do mid-year reviews for every business client. If you'd like one, we're taking enquiries now.

📞 07512 861469
✉️ [email protected]
🌐 www.jbcaccounts.com

JBC Accountants and Consultants Limited, Leicester

24/07/2026

Small employers can recover 103% of Statutory Maternity Pay from HMRC — yet many never claim it. 💰

Here's what every employer should know about statutory pay:

👶 Statutory Maternity Pay (SMP): 90% of earnings for the first 6 weeks, then £187.18/week for 33 weeks
🤒 Statutory Sick Pay (SSP): £116.75/week for up to 28 weeks — paid by the employer (not recoverable from HMRC)
👨 Statutory Paternity Pay: £187.18/week for 1 or 2 weeks

SMP recovery from HMRC:
✅ Small employers (employer NIC bill under £45,000): recover 103% — you get 3% back as an admin bonus
✅ Larger employers: recover 92%

Recovery is made by reducing your monthly PAYE payment to HMRC. It is not automatic — it must be processed correctly through your payroll.

If you've paid SMP without recovering it, you may be owed money back.

We handle statutory pay calculation and HMRC recovery as part of our payroll service.

📞 07512 861469
✉️ [email protected]
🌐 www.jbcaccounts.com

JBC Accountants and Consultants Limited, Leicester

23/07/2026

Making Tax Digital for Income Tax is coming in April 2026 — and HMRC has confirmed there will be no further delays. 📱

Who is affected first:

👉 Self-employed individuals and landlords with combined income above £50,000 per year — mandatory from April 2026
👉 Those with income above £30,000 — mandatory from April 2027

What changes:

📋 Digital record-keeping becomes mandatory — spreadsheets alone are not compliant
📋 Quarterly updates must be submitted to HMRC (replacing part of your annual Self Assessment)
📋 You must use MTD-compatible software — Xero, QuickBooks, FreeAgent, or Sage

The transition takes time. Choosing the right software, migrating your records, and learning the new quarterly process all need to happen before your start date — not on the day it goes live.

We are supporting clients through the MTD for Income Tax transition now. If you're affected and haven't started preparing, please get in touch — we can make this straightforward.

📞 07512 861469
✉️ [email protected]
🌐 www.jbcaccounts.com

JBC Accountants and Consultants Limited, Leicester

22/07/2026

The Pensions Regulator issues thousands of fines to UK employers every year for auto-enrolment failures — and many of those employers thought they were compliant. ⚠️

The most common mistakes we see:

❌ Missing the 3-year re-enrolment date — previously opted-out workers must be re-enrolled every 3 years, whether they like it or not
❌ Failing to file the Declaration of Compliance with The Pensions Regulator (automatic £400 fine)
❌ Calculating contributions on the wrong earnings base
❌ Not enrolling workers who cross the £10,000 earnings threshold during the year

The minimum employer contribution is 3% of qualifying earnings. Total minimum (employer + employee) is 8%.

This applies to every UK employer with at least one eligible worker — there is no small business exemption.

We manage auto-enrolment compliance as part of our payroll service so nothing is missed. If you're not confident your pension obligations are fully up to date, give us a call.

📞 07512 861469
✉️ [email protected]
🌐 www.jbcaccounts.com

JBC Accountants and Consultants Limited, Leicester

21/07/2026

Under standard VAT accounting, HMRC wants the VAT on your invoice the moment you raise it — even if your customer doesn't pay for 60 or 90 days. 📅

The VAT Cash Accounting Scheme fixes this.

Under cash accounting:
✅ VAT only becomes due when you actually receive payment
✅ You only reclaim input VAT when you actually pay your supplier

For a business with slow-paying customers, this can free up tens of thousands of pounds in working capital — with no change to your ultimate tax liability.

Available to businesses with VAT-taxable turnover under £1.35 million per year.

One thing to note: if you also pay your suppliers slowly, the scheme delays your input VAT reclaim too. It works best when your customers pay slowly but you pay suppliers promptly.

Many VAT-registered businesses are on the wrong scheme without realising it. We review VAT scheme suitability for every client annually.

If you'd like us to check yours, get in touch.

📞 07512 861469
✉️ [email protected]
🌐 www.jbcaccounts.com

JBC Accountants and Consultants Limited, Leicester

20/07/2026

As your business grows, keeping everything in one company can become both a risk and a missed opportunity. 🏗️

A holding company structure changes that. Here's what it gives you:

🛡️ Asset protection — valuable assets (IP, property, retained cash) are ring-fenced from trading creditors in subsidiaries
💰 Inter-company dividends are tax-free — move profits from subsidiaries to the holding company without paying Corporation Tax again
📉 Group loss relief — losses in one entity offset profits in another, reducing the overall tax bill
🏆 Substantial Shareholding Exemption — sell a subsidiary with no Corporation Tax on the gain (if 10%+ held for 12+ months)

And the restructuring itself — if done correctly using a share-for-share exchange — is free of immediate CGT and Stamp Duty.

This is one of the most powerful structures available to growing UK businesses, but timing matters. It's most effective when set up before the business reaches peak value.

We advise growing businesses on when and how to restructure. If this is something you're thinking about, we're happy to have a confidential conversation.

📞 07512 861469
✉️ [email protected]
🌐 www.jbcaccounts.com

JBC Accountants and Consultants Limited, Leicester

19/07/2026

A company can buy back its own shares from a departing director or investor — but the tax treatment depends entirely on how it's structured. 📊

Default treatment: HMRC taxes the proceeds as a dividend — up to 33.75% for higher-rate taxpayers.

With proper structuring and HMRC clearance in advance: the proceeds can qualify as a capital receipt — taxed at 24% CGT, or just 10% with Business Asset Disposal Relief.

On a £500,000 share buyback, the difference between dividend and capital treatment is over £115,000 in tax.

To qualify for capital treatment:
✅ The company must be unquoted
✅ The shareholder must have held shares for at least 5 years
✅ The buyback must benefit the company's trade
✅ The shareholder's interest must be substantially reduced

HMRC clearance must be obtained before the transaction completes. We manage this process for clients regularly.

If a director or shareholder is planning to exit, speak to us before any documents are signed.

📞 07512 861469
✉️ [email protected]
🌐 www.jbcaccounts.com

JBC Accountants and Consultants Limited, Leicester

18/07/2026

From April 2026, the Inheritance Tax treatment of business assets is changing — and business owners need to act now. ⏰

Current position: Business Property Relief gives 100% IHT exemption on qualifying trading business assets. Pass your business to the next generation — no tax.

From April 2026: The first £1 million remains fully exempt. But assets above £1 million will only receive 50% relief — meaning an effective IHT rate of 20% on the excess.

For a business worth £3 million, this creates a potential six-figure tax bill that simply didn't exist before.

Key risks to be aware of:

⚠️ Surplus cash held in the company may not qualify for BPR at all
⚠️ Investment properties within the business are excluded
⚠️ The 2-year minimum ownership rule means you cannot act at the last minute

The planning window is narrowing. If your business is worth more than £1 million, this needs to be reviewed now — while there is still time to structure things correctly.

We are helping clients with this right now. If you'd like a confidential conversation, please get in touch.

📞 07512 861469
✉️ [email protected]
🌐 www.jbcaccounts.com

JBC Accountants and Consultants Limited, Leicester

17/07/2026

Sell your business and pay just 10% Capital Gains Tax — instead of 24%. That's what Business Asset Disposal Relief can do. 🏆

On a £1 million gain, that's a saving of £140,000.

But to qualify, you must meet strict conditions throughout the 2 years before the sale:

✅ Own at least 5% of the ordinary shares (with 5% voting rights)
✅ Be a director or employee of the company
✅ The company must be a trading company — not investment-oriented
✅ Lifetime limit: £1 million of qualifying gains

The most important thing to understand: this relief cannot be applied retrospectively. The planning must happen years before any sale — not the week you receive an offer.

Directors who discover they don't qualify after agreeing a deal have no way to fix it.

We check BADR eligibility for every business owner client — long before any transaction is on the table.

📞 07512 861469
✉️ [email protected]
🌐 www.jbcaccounts.com

JBC Accountants and Consultants Limited, Leicester

16/07/2026

The Employment Allowance increased to £10,500 per year from April 2025 — but thousands of eligible UK businesses still aren't claiming it. 💷

This is a straightforward relief that reduces your employer National Insurance bill by up to £10,500 every tax year. And it must be actively claimed — it doesn't renew automatically.

You qualify if:

✅ Your total employer NIC bill was under £100,000 in the prior tax year
✅ You have at least one employee who is not the sole director

Common mistakes:

❌ Not renewing the claim at the start of each new tax year
❌ Assuming you don't qualify because you're a small company — check first
❌ Not knowing you can claim retrospectively for up to 4 prior years

If you've been missing this, HMRC allows backdated claims. That could be up to £42,000 in unclaimed relief over four years for an eligible business.

We check Employment Allowance eligibility for every employer client we work with.

📞 07512 861469
✉️ [email protected]
🌐 www.jbcaccounts.com

JBC Accountants and Consultants Limited, Leicester

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5 Clement Avenue
Leicester
LE47QJ

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