Xtax Accountancy Services Ltd

14/01/2026

24/12/2025

Wishing all our valued clients a joyous Christmas and a Happy New Year, from everyone at Xtax. Looking forward to working with you in the new year!🎄🎊

02/12/2025

Xtax Accountancy Services Ltd are proud to support Circus Starr this Christmas, enabling a child to go to the pantomime. 🎄🎁🎅🏻

27/11/2025

As announced by the Chancellor in the Autumn Budget 2025, these are the new minimum wage rates. These will be effective from April 2026.💷

06/11/2025

It’s getting to that time of the year where staff Christmas parties are a hot topic!🎅🏼🎄

In the UK, employers can provide a tax-free annual staff party or social function, such as a Christmas party, under the Annual Events Exemption. It must meet specific conditions to use the tax benefit.

For the event to be exempt from Tax and NICs for the employees, and for the employer to claim tax relief, meeting the following conditions is mandatory:
- Must be an annual event
- Must be open to all employees
- Total must not exceed £150 per person, inclusive of VAT. As this is an exemption and not an allowance, if the total cost goes even 1p over the £150 per head, the entire amount becomes a taxable benefit.
- Note that the cost per head (£150 inc. VAT) includes all associated expenses, such as food, drink, entertainment and travel arrangements.

Employers must keep accurate records of all expenditure, the number of attendees and how costs were calculated to demonstrate HMRC compliance.

31/10/2025

𝑭𝙤𝒍𝙡𝒐𝙬 𝙪𝒔 𝒐𝙣 𝙄𝒏𝙨𝒕𝙖𝒈𝙧𝒂𝙢

https://www.instagram.com/xtaxaccountancyservices?igsh=ZTVxbTJxYXV1Y25k&utm_source=qr

27/10/2025

From winter 2025, the eligibility criteria for Winter Fuel Payments in England, Wales and Northern Ireland, and the Pension Age Winter Heating Payment in Scotland, will be expanded so that more pensioners are eligible.

If an individual has a total income of over £35,000, HMRC will recover winter payments through the tax system. A charge to income tax will apply that is equal to the full value of the payment received. The tax charge will apply in all parts of the UK.

For PAYE customers, HMRC will automatically collect the payment through a change to the customer’s tax code, unless they already file a Self Assessment tax return. Changing the tax code will mean their winter payment will be deducted from their income and paid to HMRC in monthly instalments across the 2026 to 2027 tax year, starting from April 2026.

For Self Assessment customers, no one needs to include their payment in this year’s tax return. If they complete an online tax return each year, where possible HMRC will automatically include the payment on their 2025 to 2026 tax return, due by 31 January 2027. Customers should check their winter payment is on their online return and include it themselves if not. If they file a paper Self Assessment tax return, they will need to include the payment on their 2025 to 2026 tax return, due by 31 October 2026. No one needs to register for Self Assessment because of the winter payments.

Further guidance on Winter Fuel Payments, Pension Age Winter Heating Payment and understanding tax and your pension is available.

23/10/2025

It's our annual reminder that it is officially 100 days to go until the 24/25 self-assessment deadline on 31 January 2026! Get those tax returns in. 📥⏰

22/10/2025

From next month, you may start to receive letters from HMRC about how you will be affected by Making Tax Digital for Income Tax. We recommend that you get in touch with your appointed accountant as soon as possible after you receive these so that they can discuss the process with you and get you set up, ready for April 2026. 📲💻📩

15/10/2025

If you are signed up with our insurance partners, Croner-i, we wanted to remind you that you get FREE access to Croner's Consultancy services via our dedicated advice line covering every aspect of Health & Safety, Employment Law and HR.

With the Employment Rights Bill set to introduce several changes this October, many employers across the UK are concerned about the implications it will have on their business.

You can call Croner-i on 0844 892 2807 to receive tailored advice ahead of the changes and to receive a free document compliance critique.

08/10/2025

https://www.instagram.com/p/DPi0UFjikx9/?igsh=MXBlMXJ0NmJ1MHhiZg==