Ashton Knight Ltd - UK Accountants

26/07/2026

🚨 Self Assessment Tax Reminder – 31 July 2026 Deadline 🚨

If you normally make Payments on Account towards your Self Assessment tax, your second payment may be due to HMRC by 31 July 2026.

⚠️ Please note that not everyone is required to make a payment, so it’s important to check your Self Assessment calculation or HMRC online account to confirm whether an amount is due.

Paying on time can help you avoid unnecessary interest and penalties.

You can pay your Self Assessment tax bill online here:
👉 https://www.gov.uk/pay-self-assessment-tax-bill

📝 Still need to complete your 2025/26 Self Assessment Tax Return?

If you haven’t yet prepared your 2025/26 Self Assessment Tax Return, now is the perfect time to get organised. Our experienced team at Ashton Knight can prepare and submit your return accurately, ensuring you claim all available tax reliefs and meet your filing obligations.

📧 Get in touch today: [email protected]
🌐 www.ashtonknight.net

We’re here to make Self Assessment simple and stress-free.

Ashton Knight Accountants Empowering Your Financial Future with Expertise and Integrity

25/05/2026

📢 We’ve launched our official WhatsApp Channel!

Stay up to date with:
✅ Tax tips & updates
✅ Accounting insights
✅ Business news
✅ Financial planning advice
✅ Important HMRC deadlines

Perfect for all UK business owners and professionals operating through a limited company or self employed and anyone wanting simple financial guidance straight to their phone.

Join the channel here 👇
https://whatsapp.com/channel/0029Vb5GK5A0rGiVi3eHUi2v

Don’t miss out — follow us today and stay informed with quick, easy-to-understand updates.

Follow Ashton Knight Accountants's WhatsApp channel. Welcome to Ashton Knight, an accountancy practice with over 100 years of combined experience serving businesses and individuals across the UK. We will provide you with key updates relating to the HMRC. Join 13 followers for the latest updates.

25/05/2026

🚗 HMRC Mileage Rates Have Increased for 2026/27 🚗

Good news for employees and business owners who use their own vehicles for work purposes.

HMRC has increased the Approved Mileage Allowance Payment (AMAP) rate for cars and vans from 45p to 55p per mile for the first 10,000 business miles.

✅ New rates from 2026/27:

🔹Cars & Vans: 55p per mile (first 10,000 miles)
🔹Cars & Vans: 25p per mile (over 10,000 miles)
🔹Motorcycles: 24p per mile
🔹Bicycles: 20p per mile

This is the first increase in many years and could provide meaningful tax-free reimbursement savings for employees who travel for business.

Important reminders:
✔ Applies to business travel only (not normal commuting)
✔ Employers can reimburse up to these rates tax-free
✔ If your employer pays less, employees may be able to claim tax relief on the difference from HMRC

Businesses should now review:
🔹Mileage reimbursement policies
🔹Payroll settings
🔹Employee expense procedures

Full HMRC guidance here:
https://www.gov.uk/government/publications/rates-and-allowances-travel-mileage-and-fuel-allowances/travel-mileage-and-fuel-rates-and-allowances

Ashton Knight can also help you optimise your tax position and ensure you are claiming all available business travel reliefs Ashton Knight Ltd - UK Accountants

We’d like to set additional cookies to understand how you use GOV.UK, remember your settings and improve government services.

28/03/2026

🚨 Making Tax Digital is coming – are you ready?

From 6 April 2026, HMRC is changing how self-employed individuals and landlords report their income. If you earn over £50,000, this will apply to you.

👉 No more one annual tax return
👉 Quarterly updates will become mandatory
👉 Digital record-keeping will be essential

Who’s affected?
✔️ Sole traders & freelancers
✔️ Landlords
✔️ Anyone with combined income over £50k

If your 2024/25 tax return crosses the threshold, you’ll need to be compliant by April 2026.

💡 The good news? You don’t have to figure this out alone.

At Ashton Knight, we help you:
✔️ Get set up with MTD-compatible software
✔️ Register with HMRC
✔️ Stay compliant with quarterly submissions
✔️ Remove the stress from the entire process

📩 Not sure if this applies to you? Let’s have a quick chat and get you ahead of the change.

🔗 www.ashtonknightaccountants.co.uk

22/02/2026

🔍 HMRC enquiries are rarely random.

HM Revenue & Customs uses a sophisticated data-analysis system called Connect, which cross-references information from hundreds of sources — including bank data, Companies House filings, Land Registry records, online marketplaces, and other third-party reports.

It processes vast amounts of data to build a financial profile of individuals and businesses.

When something doesn’t align — such as undeclared rental income, discrepancies between declared income and lifestyle, or unusual year-on-year fluctuations — the system flags this as an anomaly. That’s typically when an enquiry is opened, and often HMRC already has a detailed understanding of the position before contacting you.

💼 The key takeaway?
Accuracy, consistency, and proactive tax planning are critical. Mistakes, omissions, or inconsistencies can trigger unnecessary scrutiny.

Ashton Knight Accountants, we help ensure your tax affairs are accurate, compliant, and consistent — so you’re never caught off guard. And if HMRC does come calling, we’re right there with you, managing the process, communicating on your behalf, and working to achieve the best possible outcome.

✅ Proactive tax planning
✅ Accurate and timely submissions
✅ Full support through any HMRC enquiry
Don’t wait until there’s a problem. Get ahead of it.

📩 Get in touch with the team at Ashton Knight Accountants today and let us give you the peace of mind you deserve. Drop us an email at [email protected] and we’ll be happy to help.

14/02/2026

📢 Need to Make a Disclosure to HMRC for the tax year 2025-2026, Ashton Knight Can Help. 🇬🇧💼

Many people assume HMRC won’t notice missing income or gains. The reality? HMRC already holds more data about you than you might think.

🔎 What information does HMRC already have?

HMRC receives data directly from:

▪ Employers (PAYE salary, bonuses & benefits)
▪ Banks & building societies (interest income)
▪ Investment platforms (dividends & disposals)
▪ Crypto exchanges (from 1 January 2026 under new reporting rules)
▪ The Land Registry (property sales)
▪ Letting agents & property platforms
▪ Overseas tax authorities through international data-sharing agreements

This means HMRC can cross-check your Self Assessment against third-party data.

⚠️ If something is missing, it can trigger enquiries, penalties and interest.

✅ How Ashton Knight Can Help

At Ashton Knight Accountants, we help you get ahead of the issue, not react to it.

✅Review your full income position
✅ Identify undeclared income or gains
✅ Calculate capital gains (including crypto & property)
✅ Prepare accurate disclosures for the current tax year
✅ Advise on voluntary disclosure if needed
✅ Minimise penalties where possible

Whether it’s crypto trading, rental income, overseas income, dividends, or self-employment, we ensure everything is disclosed correctly and tax-efficiently.

💬 If you’re unsure whether you need to declare something, it’s better to check now than deal with an HMRC enquiry later.

📩 Message or email ([email protected]) us confidentially to review your position.

Ashton Knight -Clear advice, Full compliance. Peace of mind.

13/02/2026

Tax Digital (MTD) for Income Tax – Are You Ready?

Big changes are coming from HM Revenue & Customs and if you’re self-employed or a landlord, this will affect you.

📅 When does it start?

MTD for Income Tax will become mandatory:

• April 2026 – If your qualifying income is over £50,000 (based on your 2024/25 tax return)
• April 2027 – If your qualifying income is over £30,000

(Qualifying income = gross income from self-employment and/or property before expenses.)

👥 Who does it impact?

MTD applies to:
✅ Sole traders
✅ Self-employed professionals
✅ Landlords (UK or overseas property income)

If you currently submit one Self Assessment tax return per year, you’ll soon need to:

✅ Keep digital records
✅ Submit quarterly updates to HMRC
✅ File a final declaration at year end

💷 What happens if you don’t comply?

HMRC will apply a new points-based penalty system:

⚠️ You’ll receive a penalty point for each late submission
⚠️ Once you reach the threshold, a £200 fine applies
⚠️ Further late submissions trigger additional £200 penalties
⚠️ Late payment interest will also apply

💡 The key message? Don’t wait until April 2026.

We can help you become compliant and get your processes right.

If you’d like to check whether you’ll be affected and how to prepare, feel free to message me.

10/02/2026

🚨 Making Tax Digital (MTD) for Income Tax – Are You Ready? 🚨

If you earn income from self-employment and/or property, important changes are coming – and they will be mandatory.

📅 When MTD becomes compulsory (based on qualifying income):
✅ April 2026 – over £50,000 (2024–25 tax year)
✅ April 2027 – over £30,000 (2025–26 tax year)
✅ April 2028 – over £20,000 (2026–27 tax year – legislation planned)

This means:
📊 Digital record-keeping
📤 Quarterly income and expense submissions to HMRC
🧾 An end-of-year final declaration

🔹 If you run a business

You’ll need to:
✅Understand the MTD for Income Tax requirements
✅Prepare your systems and processes in advance
✅Choose MTD-compatible software
✅Authorise your accountant or agent (if applicable)
✅Use MTD to improve cash flow visibility and planning

🔹 Sole traders or landlords

You will need to:
✅Understand how MTD applies to property income
✅Prepare digital records for rental income and expenses
✅Decide on suitable software
✅Authorise an agent if you want support
✅Identify any efficiencies and benefits from digital reporting

📌 MTD is a major change – early preparation is key. The sooner you get ready, the smoother the transition.

👉 Comment “MTD” or message us if you’d like help preparing for Making Tax Digital.

15/01/2026

🚨 Self Assessment Deadline: 31 January 2026 – Is Yours Ready? 🚨

The deadline to submit your Self Assessment tax return and pay any tax due is 31 January 2026.

Whether you’re self-employed, a limited company director, or juggling a mix of both, now is the perfect time to get everything in order and avoid the January rush (or panic 😅).

✅ Already submitted and paid? Amazing — you’re done.
⏳ Still working on it? No stress — but here’s what to double-check before you hit submit 👇

🧾 What to Include in Your Return

HMRC expects the full picture, even where tax has already been deducted. Make sure you’ve included all taxable income, such as:

🔹Self-employment or sole trader income
🔹Limited company income (salary and dividends)
🔹Rental income
🔹Savings interest
🔹Pension income
🔹Freelance, side-hustle or part-time work
🔹Benefits in kind (e.g. company car, private healthcare)

💸 Don’t Forget to Claim What You’re Entitled To

The right claims can significantly reduce your tax bill, so don’t leave money on the table.

If you’re self-employed or a sole trader:
🔹Business travel and mileage
🔹Use of home as an office
🔹Phone and internet (business-use proportion)
🔹Tools, subscriptions and training

If you’re a director:
🔹Salary and dividend income
🔹Correctly reimbursed expenses
🔹Charitable donations
🔹Pension contributions and tax reliefs
🔹Professional fees and subscriptions

🧠 Getting it right now = fewer surprises later

If you’re unsure what needs to be included or what you can legitimately claim, getting advice early can save time, tax, and stress.

📅 31 January 2026 will come around quickly.

07/12/2025

📣 Selling on Vinted, eBay, Depop or Etsy? Don’t panic if you’re asked for your National Insurance Number!

We’ve seen more people receiving pop-ups on market place apps asking for their NI number after selling items worth more than £1,700 or more than 30 items and it’s causing some worry.

💡 Here’s the truth for UK sellers:
From 1 January 2024, online selling platforms must report certain seller information to HMRC if you:

✅ Sell 30 or more items in a calendar year, or
✅ Make £1,700 or more in total sales

This is just a reporting requirement.
It does NOT mean:

❌ you automatically owe tax
❌ HMRC thinks you’re running a business
❌ your second-hand sales are taxable

👍 If you’re simply decluttering, you won’t owe tax. Selling your own second-hand clothes, shoes or household items. especially at a loss is not taxable.

💼 Tax only applies if:
🔹You are buying items to resell for profit,
🔹OR your overall online selling profit is more than £1,000 per year (the Trading Allowance),
🔹OR you sell a single item worth over £6,000 (Capital Gains Tax may apply).

HMRC can already spot business-like activity (e.g. multiple identical items, items bought and quickly resold), which is why these new rules help them identify genuine trading — not casual sellers.

If you’re unsure whether your online selling counts as a small business or just a clear-out, Ashton Knight can advise.

📩 Contact us at: [email protected]
We’re here to help you stay compliant, stress-free and fully informed.