What are the opening hours?

Monday 9am - 5pm Tuesday 9am - 5pm Wednesday 9am - 5pm Thursday 9am - 5pm Friday 9am - 4pm

https://www.accountinginc.co.uk/

Accounting Inc., Hoults Yard, Walker Road, Newcastle upon Tyne (2026)

30/04/2026

❓ FAQ of the Week: Selling shares in your own company. Can you claim BADR? 🏢💷

If you are selling shares in a personal or family company, Business Asset Disposal Relief can still be a big saver, but only if you tick the right boxes well before the sale.

💡 What does BADR do now?
For disposals from 6 April 2026, gains that qualify for BADR are taxed at 18%, subject to a £1 million lifetime limit per person. Spouses and civil partners each have their own lifetime limit.

✅ When do shares qualify?
BADR can apply to a sale of shares in your personal company, as long as the company is a trading company or the holding company of a trading group at the time of disposal. There is also a window to qualify if the company stopped trading recently, provided the disposal occurs within three years of cessation.

👤 What does “personal company” mean in practice?
You normally need at least 5% of the ordinary share capital and 5% of the voting rights. On top of that, you must also meet the economic test, meaning entitlement to at least 5% of distributable profits and assets on a winding up, or at least 5% of the sale proceeds.

⏳ How long do you need to meet the rules?
The conditions must generally be met throughout the two year qualifying period leading up to the disposal. You also need to be an officer or employee, such as a director, during that period.

🎁 What about gifting shares to family?
The article highlights that a gift of shares can sometimes qualify for BADR if Gift Hold Over Relief is not claimed, which can be useful in certain succession plans.

🧾 Do you need to claim it?
Yes. BADR is not automatic. It must be claimed, and there is a deadline to do so.

📌 Real world impact
In the article’s example, a shareholder with a £750,000 gain would pay £180,000 at 24% without BADR, versus £135,000 with BADR, a saving of £45,000.

🤝 How we can help
If you are planning a sale, retirement, management buyout, or family succession, we can review whether you qualify, spot any BADR risks early, and help you structure shareholdings, roles, and the timeline so you go into a deal with confidence.

hashtag hashtag hashtag

28/04/2026

This Week’s Tax Tip 🌟: Interest received and the savings rules people often mix up 💷🏦

Received bank or building society interest this year?

Many people know about the £1,000 allowance, but there is also a separate £5,000 starting rate for some taxpayers. Here is the difference, and when interest may need to be declared 👇

✅ The £1,000 Personal Savings Allowance

This is the allowance most people know about. Basic rate taxpayers can usually receive up to £1,000 of savings interest at 0%. Higher rate taxpayers get £500. Additional rate taxpayers get no Personal Savings Allowance.

✅ The £5,000 starting rate for savings

This is different. It is aimed at people with low non savings income. If your other income is less than £17,570, you may get up to £5,000 of savings interest taxed at 0%, and that band is reduced by £1 for every £1 your other income exceeds your Personal Allowance.

✅ These are separate reliefs

The £5,000 starting rate is for people with low other income. The £1,000 Personal Savings Allowance depends on your tax band. They are not the same thing.

✅ Do not forget the reporting point

If you complete a Self Assessment tax return, any interest earned on savings should be reported there. HMRC also says you need to register for Self Assessment if your income from savings and investments is over £10,000. If you are employed or receive a pension, HMRC may instead collect any tax due through your tax code.

23/04/2026

❓ FAQ of the Week: Who gets taxed on rental income when a couple owns the property together? 🏠💷

This catches a lot of landlords out, especially when one person earns more than the other or when rent lands in just one bank account.

👫 If you are married or in a civil partnership and living together
HMRC’s starting point is simple. Rental profits are taxed 50 50, even if you actually own the property in different shares. It’s a default rule, not a choice.

🚪 If you are no longer living together
The 50 50 rule can fall away where separation is likely to be permanent. At that point, HMRC looks at who is receiving or entitled to the profits in real terms. A recent tribunal case involved a jointly owned property rented via Airbnb, and the spouse who actually received and controlled the income was taxed on it, even though the income helped clear joint debts.

📄 Want the split to reflect unequal ownership while you are living together?
You generally need unequal beneficial interests as tenants in common, plus a valid Form 17 declaration to HMRC so the rental profits are taxed in line with the true ownership split. This needs to be backed up with evidence, and there is a strict submission window in practice, so timing matters.

✅ The key takeaway
You cannot fix this by simply paying the rent into the lower earner’s account. The legal ownership, the beneficial interest, and the reporting all need to match.

🤝 How we can help
We can review how your property is owned, confirm who should be taxed, advise on the right split, and handle the Form 17 process so everything is properly evidenced and reported correctly on your tax returns.

21/04/2026

This Week’s Tax Tip 🌟: Gifting property to children and the tax trap many families miss 🏠👨‍👩‍👧

Thinking of helping your children onto the property ladder by giving them a property?

The tax result can look very different depending on whether you gift an investment property or your main home. Here’s the key angle many families overlook 👇

✅ Gifting an investment property can trigger an immediate CGT bill

If you give a buy to let or investment property to your child, the transfer is normally treated as taking place at market value for capital gains tax purposes, even if no money changes hands. That can create a tax bill without any cash coming in to pay it.

✅ Gifting your main home can be much more tax-efficient

Where the property has qualified fully as your main residence, Principal Private Residence relief may mean there is no CGT to pay on the gift. For some families, that makes gifting the family home far more attractive than gifting an investment property.

✅ Do not forget the IHT rules

A lifetime gift is usually a potentially exempt transfer, so it can still fall back into your estate if you die within 7 years. And if you continue to benefit from the property after giving it away, the gifts with reservation rules can undo the planning.

Before gifting property to children, do not just think about who should receive it. Think carefully about which property you are giving and what tax cost comes with it.

16/04/2026

❓ FAQ of the Week: Does my company qualify for BADR, or could “non-trading” activities block the relief? 🧾🏢

BADR can still be valuable when you sell shares in your company, but one of the easiest ways to lose it is by failing the trading company test. For disposals from 6 April 2026, HMRC guidance notes that qualifying BADR gains are charged at 18%.

🔍 What does “trading company” actually mean?

In plain English, the company must be carrying on trading activities and must not have non-trading activities to a substantial extent. The same concept applies if you are selling shares in a holding company of a group, because the group needs to be trading overall.

⚠️ The word that catches people out is “substantial”

HMRC guidance often references a rough rule of thumb of around 20% when considering factors such as turnover, asset base, profits, and staff time, but case law has shown this is not a fixed mathematical test. It is a judgment call based on the facts.

🏠 Why property based income is a common danger zone

A recent tribunal case involving a business providing boat moorings and related services is a good reminder. The tribunal treated much of the income as arising from the exploitation of land rights, rather than from trading, and BADR was denied. The decision looked closely at what drove income and how the assets were actually used.

🧠 A quick way to sense check your risk

If a meaningful chunk of your company’s activity looks like investment style income, such as rent, licence fees, interest, surplus cash management, or owning assets that are not actively used in the trade, it is worth reviewing. HMRC and the tribunals will look at the substance of what the company actually does, not just how it describes itself.

👋 How we can help

If you are planning a sale, a share reorganisation, or just want to protect BADR for the future, we can review your trading status, identify any red flags, and help you tighten the structure and narrative before it becomes time critical.

12/02/2026

❓ FAQ of the Week: MTD for Income Tax is coming fast. Are you ready? 💻⏳

If you’re a landlord or sole trader and you still do your tax once a year in one big push, this is the change that forces a new rhythm.

👤 Who will be affected?

From 6 April 2026, MTD for Income Tax applies if your combined gross income from self employment and property is over £50,000. HMRC works this out using your latest tax return and it only looks at self employment and property income, not salary, dividends or other income.

From 6 April 2027, it extends to those over £30,000. From 6 April 2028, it extends to those over £20,000.

🧾 What will your obligations be?

You’ll need to use HMRC recognised software to keep digital records, then send quarterly updates to HMRC from that software. You’ll still submit your tax return by 31 January, but the admin is spread across the year instead of saved up for one deadline.

📅 What are the key deadlines?

If you’re in from April 2026, your first quarterly update is due 7 August 2026, then 7 November 2026, 7 February 2027, and 7 May 2027.

⚠️ How will this affect you in real life?

It means more frequent bookkeeping and less room for last minute catch ups. The upside is you can stay closer to your numbers and your software can show a running estimate of tax after updates.

✅ What about penalties?

HMRC is moving to a points system. If you’re mandated from 6 April 2026, HMRC says it will not apply penalty points for late quarterly updates for the first 12 months, but penalty points can still apply for late tax returns.

🤝 How we can help

We’ll confirm whether you’re in scope, get you set up on the right software, build a simple system for keeping records, and handle the quarterly updates and year-end filing for you so you stay compliant without it taking over your life.

10/02/2026

This Week’s Tax Tip 🌟: Renters’ Rights Act 2025 and the hidden tax angle for landlords 🏠📚

The Renters’ Rights Act 2025 has received Royal Assent and introduces major changes for private landlords in England, including the end of Section 21, a new Private Rented Sector Landlord Ombudsman, a Private Rented Sector Database, and higher standards around property conditions.

Here’s the tax angle many landlords miss 👇

✅ Turn extra compliance costs into tax relief where possible

Many ongoing costs of running and maintaining a rental property can reduce your taxable rental profit, but the treatment depends on whether the spend is a repair or an improvement. Repairs are usually deductible against rental income, while improvements are normally capital and not deductible from rental income.

✅ Do not assume penalties are deductible

Fines and penalties for breaking the law are not allowable deductions for tax purposes, so poor compliance can hurt twice.

✅ If the new rules push you towards selling, plan your CGT early

For 2025 to 2026 the CGT allowance is £3,000 and residential property gains are generally taxed at 18 per cent or 24 percent depending on your income band.

If CGT is due, you usually need to report and pay it within 60 days of completion.

If you are reviewing your portfolio because the numbers no longer stack up, get the tax planning right before you make your move.

🏡💷

20/11/2025

❓ FAQ of the Week: Should you consider incorporating your self‑employed business? 🧑‍💼📊

If you’re running your business as a sole trader you might be wondering whether moving to a limited company makes sense any more. Yes, it can still be beneficial, but the maths are tighter now and it very much depends on your profits and personal circumstances.

👥 Who might benefit from incorporation?

Incorporation tends to work better if your profits are high enough that the difference between income tax + National Insurance (for a sole trader) and corporation tax + dividend tax (for a company) becomes meaningful. It’s also more attractive if you don’t intend to withdraw all the profits immediately and you want to build in flexibility.

📌 What has shifted recently?

Recent changes mean the advantages are less clear cut. Corporation tax has risen for many companies, dividend allowances have been cut, dividend tax rates have gone up and some National Insurance reliefs for self‑employed have been removed or reduced. That means starting a company isn’t automatically the better tax route.

🧮 What should you compare?

You’ll want to compare:

✅ If you stay self‑employed: your income tax + Class 4 National Insurance on profits.

✅ If you incorporate: your corporation tax on company profits + tax on dividends and salary when you extract money.

Then weigh that against extra costs (company admin, payroll, accounting) and the flexibility you lose or gain. Tax Insider

📉 When might incorporation not be worthwhile?

If your profits are modest, you extract nearly all profits each year, or you prefer simplicity and fewer annual formalities, staying as a sole trader might be the better route. The gains from incorporation may be minimal or outweighed by extra paperwork and compliance.

👋 How we can help

We’ll run the numbers specific to your business, compare your current sole‑trader model with a company structure, look at profit extraction options, cost of compliance and the long‑term strategy. That way you’ll make an informed decision rather than guess.

04/11/2025

This Week’s Tax Tip 🌟: File Your Tax Return by 30 December to Pay via Your Tax Code 🧾💡

If you submit your Self Assessment tax return by 30 December 2025, HMRC may be able to collect any tax you owe (up to £3,000) through your PAYE tax code instead of requiring a lump-sum payment on 31 January 2026.

✅ Smooth cash flow

Rather than paying your entire bill in January, HMRC will spread the liability over the following tax year, deducting it in small amounts from your salary or pension.

✅ Eligibility

You must already pay tax through PAYE, have less than £3,000 due after deducting payments on account, and submit your return online by 30 December 2025.

✅ Automatic adjustment

HMRC will automatically code out the balance if you qualify no extra form needed.

✅ Avoid January stress

Filing early gives peace of mind and avoids last-minute errors, penalties or system crashes close to the 31 January deadline.

Submitting your return early doesn’t mean paying early. It means more control, easier budgeting, and one less thing to worry about in January.

21/10/2025

This Week’s Tax Tip 🌟: Tax Breaks for Commercial Property Landlords 💼🏢

If you’re investing in commercial property, there are valuable tax reliefs that can significantly reduce your overall tax bill, especially if you’re moving from residential buy-to-let into commercial property.

✅ Capital Allowances

You can claim tax relief on certain elements within the building, such as air conditioning, heating, lifts and lighting systems. These qualify as “plant and machinery” and can reduce your taxable profits.

✅ Structures and Buildings Allowance (SBA)

For construction or renovation costs on commercial property, you may be able to claim relief at 3% per year on eligible expenditure, including legal and professional fees linked to the build.

✅ Repairs vs Improvements

Routine repairs and maintenance are usually deductible in full, while improvement costs are capital in nature and may qualify for allowances. Keeping detailed records helps ensure you maximise your claims.

✅ VAT and SDLT

Commercial properties have different VAT and stamp duty rules to residential investments. Planning ahead and considering whether to “opt to tax” can make a big difference to cash flow and future liabilities.

🔍 The takeaway

If you own or are planning to buy commercial property, review how the purchase and fit-out are structured. Identifying qualifying expenditure early can unlock substantial tax savings and improve long-term returns.

🧾

Accounting Inc.

30/04/2026

28/04/2026

23/04/2026

21/04/2026

16/04/2026

12/02/2026

10/02/2026

20/11/2025

04/11/2025

21/10/2025

Address

Opening Hours

Telephone

Website

Alerts

Shortcuts

Share

Category

Monday	9am - 5pm
Tuesday	9am - 5pm
Wednesday	9am - 5pm
Thursday	9am - 5pm
Friday	9am - 4pm