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Platinum Accountancy Services, Winterton Way, Macclesfield (2026)

28/05/2026

🚗 Company car tax: the basics (and why it gets complicated fast 👀)

Company cars might look like a simple employee benefit… but the tax rules behind them are anything but.

Here’s a clear breakdown of how it works 👇

💼 When is a company car taxed?

If an employee (or their household) gets a company car that’s available for private use, a tax charge usually applies.

👉 It doesn’t matter if they actually use it privately

👉 Just that it’s available for private use

💰 Cash equivalent: how tax is calculated

The taxable benefit is based on:

• The car’s original list price (not what was paid)

• Plus optional extras and VAT

• Multiplied by a CO₂-based percentage banding system

💡 Important points:

• Employee capital contributions can reduce the value (up to £5,000)

• Employee payments for private use also reduce the charge

• Diesel cars may have an extra 4% charge (unless RDE2 compliant)

• Maximum charge is capped at 37% of list price

⚡ Electric range matters

For lower-emission vehicles:

👉 CO₂ emissions + electric-only range determine the % charge

👉 The lower the emissions, the lower the tax bill (generally)

🚐 Cars vs vans vs pickups

Not everything is treated the same:

• Cars = most mechanically propelled vehicles

• Vans = goods vehicles under 3.5 tonnes

• Double cab pickups depend on payload (1 tonne rule is key)

👉 Classification can completely change the tax treatment.

👥 Pool cars exemption

A “pool car” can be tax-free if strict conditions are met:

✔ Used by multiple employees

✔ Not kept for one person’s exclusive use

✔ Private use is only incidental

✔ Not normally kept overnight at home

👉 If these conditions aren’t met, the exemption is lost.

⛔ Availability matters

Tax can be reduced if the car is genuinely unavailable (e.g. repairs), but:

👉 It must be unavailable for 30+ consecutive days

👉 Simply not using the car doesn’t count

💡 Bottom line

Company car tax isn’t just about the vehicle, it’s about:

➡️ Availability

➡️ Emissions

➡️ List price rules

➡️ And strict HMRC definitions

If you’re advising on company cars (or choosing one), the structure can make a big difference to the tax outcome 👍

27/05/2026

🚨 Big changes could be coming for small business owners…

HM Revenue & Customs (HMRC) has launched a consultation that could introduce much stricter reporting rules around director’s loan accounts and transactions with shareholders (participators).

And yes… it’s a big one 👀

💡 Why this matters:

The small business tax gap has hit £14.7bn, around 40% of corporation tax owed by small companies. HMRC believes part of this comes from blurred lines between company money and personal money.

So they’re looking to tighten things up.

🔍 What’s being proposed?

If this goes ahead, close companies may need to report far more detail to HMRC, including:

• Director’s loan repayments

• Dividends and distributions

• Buying/selling assets between director & company

• Any transfer of value (yes, pretty much everything)

• Potentially even write-offs or released loans

Plus… reporting could include:

👉 Names of individuals involved

👉 Dates and amounts of every transaction

👉 Possibly even National Insurance numbers in some cases

⚠️ What could this mean in practice?

For many owner-managed businesses, this would mean:

➡️ Much more admin and record-keeping

➡️ Less flexibility around director’s loans

➡️ Increased HMRC visibility on how you take money out of your business

At the moment, director’s loans can be a useful and legitimate tool, but HMRC clearly wants tighter control over how they’re used.

⏱️ When is this happening?

Nothing is confirmed yet, this is still a consultation stage.

📅 Deadline for feedback: 10 June

But given this sits within a wider anti-tax avoidance strategy, changes could move fairly quickly.

💬 My take?

This isn’t about catching people out, it’s about closing gaps and increasing transparency.

That said… for small businesses already juggling a lot, this could feel like another layer of complexity.

If you’re using a director’s loan account or regularly moving money between you and your company, it’s definitely one to keep an eye on 👀

And if you’re unsure how this could affect you, now’s a good time to give us a call! 👍

21/05/2026

Updates coming to Director's Loan Accounts

HMRC are back with another update… and this one’s a bit of a deep dive into how directors and small businesses handle their money 👀

In a new consultation, HM Revenue and Customs is proposing much tighter reporting rules around director’s loan accounts and transactions between companies and their shareholders (aka “participators”). The aim? To tackle the growing small business tax gap, now sitting at a chunky £14.7bn.

So, what’s changing? In simple terms… HMRC wants a lot more visibility.

If the proposals go ahead, businesses may need to report detailed information on pretty much every transaction between the company and its directors/shareholders, including:

- Payments in and out
- Loans and repayments
- Dividends
- Buying or selling assets
- Even write-offs and releases of loans

Yep… it’s a lot more admin.

The idea is to make sure there’s a clear line between company money and personal money (something that can get a bit blurred in smaller, owner-managed businesses). HMRC believes this will help reduce errors, and clamp down on any deliberate tax avoidance.

At the moment, there’s no confirmed start date, but it’s likely this could move fairly quickly as part of the government’s wider anti-avoidance push. The current thinking is an annual reporting requirement, aligned with company tax returns, although more frequent reporting hasn’t been ruled out.

For many small businesses (especially “close companies”), this could mean more record-keeping, more detail, and more pressure to get things right.

The good news? You don’t have to figure it all out on your own 😊

👉 If director’s loans, dividends or company finances are starting to feel a bit… murky, it’s a great time to get things organised.

At Platinum Accountancy Services, we help you keep everything clear, compliant, and stress-free, from managing director’s loan accounts to making sure your reporting is spot on.

Drop us a message if you’d like a second pair of eyes on things, we’ll help you stay one step ahead of any changes 🙌

20/05/2026

Late payment penalties

VAT deadlines… not exactly the most exciting dates in the diary, but definitely ones you don’t want to miss 😅

New figures show that around 1 in 4 VAT-registered businesses ended up with a late payment penalty last year. With 2.3 million VAT-registered entities in the UK, that’s a pretty big chunk feeling the sting.

In total, HM Revenue and Customs issued 582,000 fines in 2024–25, adding up to a hefty £302 million in penalties. That’s slightly up from the previous year… so not exactly heading in the right direction.

Interestingly, those fines are just a small piece of the puzzle. Unpaid VAT now makes up around 5% of the total tax gap, which has climbed to an eye-watering £11.9 billion. So while penalties are rising, there’s still a huge amount of VAT sitting unpaid.

Part of the issue? Rising costs, more admin, and a tougher penalty system introduced in 2023. Businesses now face 3% penalties after 16 days overdue, and another 3% after 31 days, so things can escalate quickly if VAT slips down the to-do list.

And HMRC isn’t slowing down anytime soon. With £629m being invested into debt recovery, it’s clear they’re getting stricter about chasing what’s owed. The message is simple: ignoring VAT bills isn’t going to make them disappear 👀

The good news? If cash flow is tight, there are options - like setting up a Time to Pay arrangement, but acting early is key.

👉 Need a hand staying on top of VAT (or avoiding those not-so-fun fines)?
At Platinum Accountancy Services, we help businesses keep things running smoothly behind the scenes, from filing returns on time to managing payments and dealing with HMRC.

Drop us a message if you’d like some support… we’ll help you stay organised and penalty-free 🙌

14/05/2026

🔐 New HMRC log-in rules: Gov.UK One Login replaces Government Gateway (for new users)

HMRC is gradually moving to a new digital access system called GOV.UK One Login, and from now on, anyone new to HMRC online services won’t be able to create a Government Gateway account.

Instead, they’ll need to set up a GOV.UK One Login.

👥 What about existing users?

If you already use a Government Gateway ID, nothing changes for now.

You can continue using your current login details. HMRC has confirmed that migration will be gradual, and existing users will be contacted when it’s time to switch.

The full transition is expected to be completed by the end of 2027.

Even if you already have a GOV.UK One Login for another service (like Companies House or managing your State Pension), you’ll still need to keep using Government Gateway for HMRC until told otherwise.

🆕 What’s different for new users?

Anyone registering for HMRC services for the first time will now:

✔ Create a GOV.UK One Login using an email address and password
✔ Verify their identity using the app (including photo ID and facial recognition)
✔ Answer security questions as part of the setup

Eventually, this single login will give access to over 200 government services, from Self Assessment and Making Tax Digital to passports and driving licences
⚠️ Practical considerations

The rollout is being described as cautious and closely monitored but there are some challenges.

Support is available via the Government Digital Service if users struggle with setup. However, the process is digital-first, and those without internet access may find it difficult to navigate, particularly as some support tools require online-generated codes.

The contact and help pages are currently labelled as a “beta” service, so further refinements are likely.

✨ What does this mean for you?

- If you already use Government Gateway → no action required yet

- If you’re new to HMRC services → you’ll need to set up GOV.UK One Login

- Expect gradual communication before any mandatory switch

💬 Unsure how this affects your business or Self Assessment access?
At Platinum, we can guide you through the changes and make sure your access to HMRC services stays smooth and secure 💙

13/05/2026

E-invoicing is coming… and if you’re thinking “wait, what even is that?” - you’re definitely not alone 😅

Despite plans from HM Revenue and Customs to make e-invoicing compulsory, a surprising number of small businesses are still in the dark. In fact, research found that 1 in 4 SMEs weren’t familiar at all with what e-invoicing actually means.

Here’s the key bit: from April 2029, businesses will be required to issue all VAT invoices electronically, following an announcement by Chancellor Rachel Reeves to “modernise the tax system”.

But… there’s a bit of a gap between plans and reality.

69% of SMEs said they’ve never used e-invoicing

91% hadn’t seen any HMRC communication about it

And 5% aren’t using any accounting software at all 😬

Interestingly, some businesses are already using e-invoicing… they just don’t realise it. If you’re using platforms like Sage, Xero or QuickBooks, you might already be closer than you think.

The concern is that this change could be rolled out all at once, without a gradual transition for smaller businesses, meaning a bit of a scramble if you’re not prepared.

The upside? Done right, e-invoicing can actually save time, reduce errors, and make life easier. It’s just a case of getting set up properly before it becomes mandatory.

👉 Not sure where you stand with e-invoicing?

That’s exactly where we come in 😊

At Platinum Accountancy Services, we can help you understand what’s required, get the right systems in place, and make sure you’re fully ready well before the 2029 deadline.

Drop us a message if you’d like a hand, future you will thank you 🙌

07/05/2026

📣 More tax changes for 2026… and this time it’s admin, penalties & costs creeping up

If you run a business, there are a few less obvious changes this year that could still hit your time (and your wallet) 💸

⚠️ Corporation tax penalties doubling

HM Revenue & Customs is increasing late filing penalties:

• £100 ➝ £200 (1 day late)
• £200 ➝ £400 (3 months late)
• Up to £2,000 for repeat offences

👉 Missing deadlines is getting a lot more expensive.

💻 End of free HMRC filing

The free corporation tax filing service has now closed

➡️ All companies must use paid/commercial software
➡️ Even amendments to old returns now need software

💡 If you were relying on the free system… time to switch.

📉 Capital allowances cut

• Main rate writing-down allowance: 18% ➝ 14%

👉 This means less tax relief over time on equipment purchases

There is some balance:
✔️ New 40% first-year allowance (for some businesses)
✔️ 100% relief for EVs & charge points extended

🚗 Road tax rising (including EVs)

From April 2026:

• Standard rate 👉 £200/year
• Expensive cars (£40k+) 👉 up to £640
• EVs ❌ no longer tax-free

👉 Even electric drivers now pay road tax.

🏢 Business rates shake-up

• Revaluation means some bills increasing
• Smaller retail/hospitality/leisure get lower multipliers
• BUT support is limited (mainly pubs & live music venues)

🧾 Other changes to note

• Economic crime levy – big increases for larger firms
• International tax rules updated (transfer pricing, PE rules)
• Va**ng duty coming from October (£2.20 per 10ml)
• CIS & compliance rules tightening further

💬 My take?

This isn’t one big headline change… it’s lots of smaller ones that add up:

➡️ Higher penalties
➡️ More admin
➡️ Less generous reliefs
➡️ Slightly higher running costs

Individually manageable… but together they increase the pressure on small businesses.

If you run a business, it’s worth checking:
✔️ Your filing process (no more free option!)
✔️ Deadlines (penalties now sting more)
✔️ Planned purchases (timing matters more)

A bit of forward planning here could save both time and money 👍

06/05/2026

🚗 Company car tax is going up again from April 2026…

If you’ve got a company car (or you’re thinking about one), this is worth knowing 👀

HM Revenue & Customs has confirmed Benefit in Kind (BIK) increases across most vehicle types including electric.

⚡ What’s changing?

• Electric vehicles (EVs) 👉 rising from 3% to 4%
• Low emission cars (1–50g/km) 👉 now 4% up to 20% depending on range
• Higher emission vehicles 👉 up to 37% 😬

👉 That top 37% rate will stay frozen until April 2028
💡 Quick reminder: how company car tax works

Your tax isn’t based on what your employer paid…

It’s based on the P11D value (list price + extras + VAT)
➡️ multiplied by the BIK %
➡️ then taxed at your personal income tax rate

So even a small % increase can mean a noticeable difference in your take-home pay.

📊 What does this mean in real terms?

➡️ EVs are still the most tax-efficient option but the gap is narrowing
➡️ Petrol & diesel cars continue to get more expensive from a tax perspective
➡️ Over 700,000 employees are expected to be affected

⛽ Fuel & van benefits also rising

There are also inflation-linked increases:

• Car fuel benefit multiplier 👉 £29,200 (up from £28,200)
• Van benefit 👉 £4,170 (up from £4,020)
• Van fuel benefit 👉 £798 (up from £769)

Good to know if your employer covers fuel for personal use 🚐

💬 My take?

This is a continuation of the government’s push:
➡️ Encourage lower emissions
➡️ But still increase overall tax take

EVs still come out on top… just not quite as generously as before.

If you’ve got a company car or are weighing up your options, it might be worth reviewing things before your next renewal 👍

30/04/2026

📣 Wages up… but so are employer costs 👀

From April 2026, there are some big changes to pay and employment rights that will impact both employees and business owners.

Here’s what you need to know 👇

💷 Minimum wage increases

From 1 April:

• National Living Wage (21+) 👉 £12.71 (+50p)
• 18–20 year olds 👉 £10.85
• 16–17 & apprentices 👉 £8.00

👉 That’s around £900 extra a year for full-time NLW workers
👉 And up to £1,500 more for younger workers

💡 The long-term aim? Moving towards a single adult rate.

🤒 Statutory Sick Pay (SSP) – big change

From 6 April:

• Paid from day one (not day four)
• No minimum earnings threshold
• Paid at £123.25/week or 80% of earnings (whichever is lower)

👉 This means more employees qualify
👉 And higher costs for employers
👶 Day one rights expanded

Employees now get from day one:

• Statutory sick pay
• Paternity leave
• Unpaid parental leave

👉 A clear shift towards stronger worker protections.

🏢 New enforcement body

A new regulator is launching:
Fair Work Agency

This brings together multiple bodies into one, with powers to:

• Inspect workplaces
• Issue penalties
• Take legal action

👉 Expect tighter enforcement on things like minimum wage compliance.

💬 What this means for businesses

Especially in sectors like retail & hospitality:

➡️ Increased payroll costs
➡️ Higher sickness-related costs
➡️ More compliance pressure

But for employees, it’s:
✔️ Better pay
✔️ Faster support when ill
✔️ Stronger rights from day one

💡 My take?

This is a pretty clear direction of travel:
➡️ Higher wages
➡️ Stronger protections
➡️ More enforcement

Which is great for employees, but businesses will need to plan carefully to absorb the extra costs.

If you employ staff, now’s a good time to review:
✔️ Payroll budgets
✔️ Absence policies
✔️ Employment contract

Getting ahead of this now will save headaches later 👍

27/04/2026

📣 New tax year = a LOT of changes for business owners

From April 2026, there’s a wave of updates affecting how you take money out of your business, invest, and plan ahead.

Here’s a simple breakdown of the key ones 👇

💸 Dividends & director’s loans

• Dividend tax rising to:
👉 10.75% (basic)
👉 35.75% (higher)
👉 39.35% (additional stays the same)

• Director’s loan tax (s455) increasing to 35.75%

👉 If you regularly use a director’s loan account for cashflow… this one matters.

📉 Business sales (BADR)

• Business Asset Disposal Relief increasing to 18%

Still beneficial vs full CGT - but less generous than before.

🧊 Frozen thresholds (again…)

No changes until 2031:

• Personal allowance: £12,570
• Higher rate kicks in: £50,271
• Additional rate: £125,140

👉 With rising incomes, this quietly increases your tax bill over time.

🌾 Big shift for inheritance tax (businesses & farms)

Changes to reliefs mean:

• First £2.5m at 100% relief
• Above that 👉 50% relief (so 20% IHT effective rate)

💡 Couples can pass on up to £5m
⚠️ Unmarried couples don’t get the combined allowance

📊 Making Tax Digital (MTD) begins

• Starts for those earning £50k+
• Applies to sole traders, landlords & self-employed
• Requires quarterly reporting

👉 Around 900,000 taxpayers affected in the first wave

🏗️ Other changes to be aware of

• CIS tightening – monthly returns required even if no payments
• Umbrella company rules – more PAYE responsibility shifting
• VCT relief dropping from 30% ➝ 20%
• EIS & EMI schemes expanding (more generous for growing companies)

💰 Savings & ISAs

• Personal savings allowance unchanged
• ISA changes coming (from 2027 👀)
👉 Cash ISA limit potentially reducing to £12k

👵 Personal bits

• State pension increasing to £241.30/week
• Child benefit also rising slightly

💬 My take?

There’s a clear theme here:
➡️ Higher taxes on extraction (dividends, loans)
➡️ More reporting (MTD, CIS)
➡️ Less generous reliefs in some areas

Which means… planning is becoming more important than ever.

If you’re a business owner, now’s a good time to review:

✔️ How you pay yourself
✔️ Whether you’re using director’s loans
✔️ Your longer-term exit & inheritance plans

Because a few small tweaks now could make a big difference later 👍

22/04/2026

💻 Side hustle? HMRC now has your data 👀

If you sell online, rent out property, or earn through content platforms, this is one to pay attention to.

HMRC has received huge volumes of data from digital platforms, covering millions of users and tens of billions in sales. That means far greater visibility of what people are earning outside traditional employment.

📊 What’s changed?

Since January 2024, online platforms must report seller data to HMRC if users:

- Make 30+ transactions a year, and
- Earn over £1,700

As a result, HMRC now has detailed information on millions of sellers - from online marketplaces to short-term rentals and content platforms.

⚠️ What does this mean?

In simple terms:

👉 HMRC can now cross-check what you earn against what you report

This is likely to lead to:

- More compliance checks

- Targeted enquiries

- Increased focus on undeclared income

If you’ve been earning money on the side and not reporting it correctly, the risk of being picked up is much higher than before.

💡 Do you actually need to pay tax?

Not always.

✔ Selling personal items occasionally (e.g. clearing out your wardrobe) → usually not taxable
✔ Running a side hustle or providing services → may be taxable

A good rule of thumb:

- If you earn over £1,000 a year, it could count as trading and may need to be declared

🧾 What should you do now?

- Review any income from online platforms

- Check whether it needs to be reported

- Make sure your tax returns are accurate and up to date

- Seek advice if you’re unsure

If you’ve missed anything historically, it’s better to deal with it early, options like payment plans may be available.

⏳ And don’t forget…

If your income is over £50,000, Making Tax Digital starts from April 2026 meaning more frequent reporting going forward.

✨ The key takeaway?

HMRC hasn’t changed the rules, but it now has far more data to enforce them.

💬 Not sure where you stand with your side income?

At Platinum, we can help you review your situation and get everything compliant (without the stress) 💙

Platinum Accountancy Services

28/05/2026

27/05/2026

21/05/2026

20/05/2026

14/05/2026

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07/05/2026

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