Taxace LTD

Taxace LTD TaxAce is an online accounting services firm. We combine seasoned accounting professionals with the 🌍 We Speak Your Language!

Accounting Support Available in Ukrainian 🇺🇦, Romanian 🇷🇴, and English 🇬🇧

29/05/2026

Top 6 cheltuieli pe care HMRC le poate refuza!
Mulți contribuabili cred că regula este simplă: “am folosit-o pentru muncă, deci o deduc”.
În realitate, tax cases celebre arată exact opusul.

Haine, mese, drumuri, chirie temporară, legal fees sau plăți comerciale mari — totul depinde de scopul real al cheltuielii și de existența unui beneficiu personal.

De aceea, înainte să treci ceva pe business, merită verificat corect.

Nu tot ce pare business expense este și deductibil.

📋 5 tax changes that could affect sole traders, landlords and business owners this year — and what to check now. https:/...
28/05/2026

📋 5 tax changes that could affect sole traders, landlords and business owners this year — and what to check now. https://m.me/taxaceltd?ref=fb_post

The new tax year has brought some important changes, and a few could catch people off guard if they are not prepared.

1. Making Tax Digital for Income Tax
From 6 April 2026, sole traders and landlords with qualifying income over £50,000 must keep digital records, use compatible software, and send quarterly updates to HMRC. Lower thresholds are due to follow in later years.

2. Dividend tax rates
If you run a limited company and pay yourself partly through dividends, your tax bill may increase. From 6 April 2026, the basic and higher dividend tax rates have gone up.

3. Business Asset Disposal Relief
Planning to sell a business or qualifying business assets? The BADR rate is now 18% on qualifying gains, so timing and planning matter.

4. Vehicle Excise Duty for electric vehicles
Electric vehicles are no longer automatically free from road tax. Some newer, higher-value zero-emission cars could pay £640 a year where the expensive car supplement applies.

5. Inheritance tax reliefs
Business Property Relief and Agricultural Property Relief are changing from 6 April 2026. The 100% relief is limited to a £2.5 million allowance, with qualifying value above that generally receiving 50% relief.

Not sure how these changes affect your situation? Drop us a message https://m.me/taxaceltd?ref=fb_post and we’ll walk you through it in plain English — no jargon, no surprises.

If you’ve got a side hustle, there’s a good chance HMRC is already paying attention. And the problem is, many people mis...
27/05/2026

If you’ve got a side hustle, there’s a good chance HMRC is already paying attention. And the problem is, many people miss income that doesn’t feel like income until it’s too late.

Here are 5 common examples people forget to declare:
Online selling
Selling on eBay, Etsy or Facebook Marketplace?
If you’re just clearing out old personal items, that’s usually different. But if you’re buying to resell or making products to sell, HMRC may see that as trading.

Example:
You sell your old sofa for £100 = usually not taxable.
You buy 20 phone cases and resell them for profit = that may need to be reported.

Casual jobs and one-off payments
Small bits of paid work can still count.

Example:
Helping a friend with admin, doing photography at an event, dog walking, gardening, or editing documents for cash.

Barter or “gift” payments
It doesn’t always have to be cash.

Example:
You design someone’s logo and they “pay” you with a laptop, free meals, or services in return. HMRC may still treat that as income.

Digital income
Online income is still income, even if it arrives in small amounts.

Example:
Selling Canva templates, Etsy downloads, Patreon subscriptions, stock photos, courses, or earning affiliate income.

Money from overseas
If you’re a UK tax resident, foreign income can still need to go on your UK tax return.

Example:
Payments from international clients, blog ad revenue from a US platform, or affiliate earnings from abroad.

The main issue is this:
It’s not about what feels like income. It’s about what HMRC classifies as income.

A good habit is to review:

bank transfers
payment platforms
online selling reports
digital platform earnings
overseas payments

Small amounts add up quickly, and that’s where people get caught out.

If you’re not sure whether something counts, it’s always better to check early than deal with tax, interest, and penalties later.

HMRC has increased the mileage rate for cars and vans from 45p to 55p per mile for the first 10,000 business miles from ...
26/05/2026

HMRC has increased the mileage rate for cars and vans from 45p to 55p per mile for the first 10,000 business miles from 6 April 2026.
That means if you use your own vehicle for work, your mileage claims could look very different in the 2026/27 tax year.

New HMRC approved mileage rates for 2026/27:
🚗 Cars and vans: 55p per mile for the first 10,000 miles
🚗 Cars and vans: 25p per mile after 10,000 miles
🏍 Motorcycles: 24p per mile
🚲 Bicycles: 20p per mile

This is a useful update for self-employed people, company directors, and anyone claiming business mileage.
If you are not keeping proper mileage records, now is the time to start.

Need help making sure your mileage claims are correct?
Send Taxace LTD a message - https://m.me/taxaceltd?ref=fb_post

26/05/2026

HMRC has updated the approved mileage rates for 2026/27.
From the new tax year, the rate for cars and vans is now 55p per mile for the first 10,000 business miles, with 25p per mile after that. Motorcycles stay at 24p, and bicycles stay at 20p.

If you use your own vehicle for work, this is worth knowing now — especially if you are self-employed, in CIS, or running a small business.

Need help with mileage claims or expense records? Send TAXACE a message https://m.me/taxaceltd?ref=fb_post

💡Most self-employed people and landlords pay more tax than they need to — not because they're doing anything wrong, but ...
22/05/2026

💡Most self-employed people and landlords pay more tax than they need to — not because they're doing anything wrong, but simply because no one's told them what they're entitled to.

Here are a few reliefs that often get missed:

→ Unclaimed pension relief (higher-rate taxpayers can reclaim extra relief through self-assessment — HMRC won't remind you)
→ Transferring income-producing assets to a lower-earning spouse (it's tax-neutral between partners, and can make a real difference on rental income)
→ Employing a family member for genuine work done in your business

None of these are loopholes. They're just things you're already entitled to — and that most people never claim.

Not sure if you're making the most of what's available to you?
Drop us a message in messenger https://m.me/taxaceltd?ref=fb_post and we'll take a look just clarity.

🚐 Your van might have quietly become a car - and the tax bill difference is significant. https://m.me/taxaceltd?ref=fb_p...
19/05/2026

🚐 Your van might have quietly become a car - and the tax bill difference is significant. https://m.me/taxaceltd?ref=fb_post

HMRC has updated its guidance on how certain vehicles are classified. Double-cab and crew-cab pickups — like a Ford Ranger or Toyota Hilux — now fall on the 'car' side of the line for tax purposes. That matters for two reasons.

First, the capital allowance relief you'd normally claim upfront on a van purchase could be dramatically reduced. We're talking the difference between a substantial first-year deduction and roughly 6% annual relief — a gap that takes decades to close.

Second, if a vehicle is available for personal use, Benefit-in-Kind tax applies — and the car calculation is based on list price and emissions, not a flat rate. For a director running a diesel crew-cab through their limited company, that shift could add thousands to your personal tax bill each year.

This is exactly the kind of change that should be on your accountant's radar before your next vehicle purchase — not flagged at year-end when the decision is already made.

If you've got a double-cab pickup in your business, or you're planning a vehicle purchase soon, drop us a message and we'll review how this affects your specific situation.

Drop us a message follow the link:
https://m.me/taxaceltd?ref=fb_post

Making Tax Digital a început deja, pentru cei care intră acum în sistem, prima actualizare trimestrială trebuie depusă p...
18/05/2026

Making Tax Digital a început deja, pentru cei care intră acum în sistem, prima actualizare trimestrială trebuie depusă până la 7 august 2026.

Dacă aveți activitate independentă sau venituri din chirii și încă nu v-ați înregistrat la MTD, este normal să aveți întrebări. Mulți contribuabili nu știu exact de unde să înceapă, ce software au nevoie, cm se face înregistrarea sau ce trebuie trimis către HMRC.

Aici intervenim noi.

La Taxace LTD vă ajutăm cu tot procesul:
- verificăm dacă intrați în MTD 2026,
- vă ajutăm cu înregistrarea lf HMRC,
- setăm soluția potrivită și ne ocupăm de depunerile trimestriale pentru dumneavoastră.

Astfel, nu pierdeți timp, nu vă stresați cu HMRC și nu riscați să începeți pe ultimul moment.

Totul se poate face simplu, cu o plată minima lunară fixă și suport profesionist.

Dacă încă nu știți de unde să apucați, scrieți-ne în messenger sau contactați-ne prin +442039659902

15/05/2026

HMRC collected a record £8.5 billion in inheritance tax last year — not because rates rose, but because their detection systems have become far more sophisticated. If you're gifting money to family, the documentation matters as much as the gift itself. Speak with our team at taxace.co.uk to ensure your estate planning is structured, compliant, and built to protect the people you're planning for.

📋 Making Tax Digital for Income Tax is no longer something to deal with 'later' — for sole traders and landlords earning...
15/05/2026

📋 Making Tax Digital for Income Tax is no longer something to deal with 'later' — for sole traders and landlords earning above a certain threshold, later is now. https://m.me/taxaceltd?ref=fb_post

Here's what's changed: instead of one annual self-assessment, you'll now need to keep digital records throughout the year and send quarterly updates to HMRC. Four times a year, not once. And one important detail many landlords miss — it's your gross rental income that counts toward the threshold, not your profit after expenses.

The good news? Once you've got the right software set up and registered with HMRC, it's genuinely straightforward. The stress usually comes from not knowing where to start — not from the process itself.

Here's your simple checklist:
✔ Check whether your gross income puts you in scope
✔ Register with HMRC for MTD for income tax
✔ Choose a compatible app
✔ Talk to your accountant this week, not next month

Not sure if your income level means you need to act right now? Drop us a message https://m.me/taxaceltd?ref=fb_post and we'll let you know.

Tax rules are subject to change. Professional advice recommended.

Address

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London
E151XH

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

Website

https://taxace.co.uk/

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